The pet treats and chews market is poised to reach a valuation of US$ 8.2 Bn in 2022. As per a recent market analysis by Future Market Insights (FMI), Sales are projected to increase at a 5.2% CAGR, with the market valuation reaching US$ 13.7 Bn by 2032.
Growing pet adoption is expanding the consumer base in the pet treats and chews market. An increase in pet companionship, along with rising disposable income will fuel sales in the market. Pet treats and chews market has grown from being just âtreatsâ and âchewsâ for the pets, to now being a market for necessary claims such as health supplements, dental care products and functional treats.
The global market, which was primarily dominated by dog treats and chews, and is now being outpaced by cat treats and chews in terms sales. This has been mainly due to manufacturers focusing and introducing newer products in the cat category. The introduction of dry cat treats has been a major breakthrough in the industry, helping find an untapped sector which has immense growth potential.
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âIncreasing demand for vegan pet treats and chews products among consumers, along with growing preference for functional pet treats is expected to create opportunities for growth in the market,â says an FMI analyst.
The key players in the pet treats and chews market are Mars Pet, Inc., NestlĂ© Purina PetCare, The J.M. Smucker Co., Hillâs Pet Nutrition, Inc., General Mills, Inc., Diamond Pet Foods, Spectrum Brands/United Pet Group, Mammoth Pet, Fluff and Tuff Inc., Central Garden and Pet Co, ZippyPawsâ, PetMate, KONG Company, Eurocan Pet Products, Cadet Pet, Inc., Presidio Natural Pet Co, and Wellness Pet Company.
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