The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global pet snacks and treats market is in for substantial growth, projected to rise from $37.79 billion in 2022 to $42.41 billion in 2023, with a compound annual growth rate (CAGR) of 12.2%. The market is anticipated to reach $66.62 billion by 2027, with a CAGR of 12%. Let’s delve into the driving force behind this surge – the increasing spending on pet health – and explore the trend of product innovations shaping this thriving industry.

1. Paws and Claws Well-Being: Spending on Pet Health:

• The growth of the pet snacks and treats market is propelled by increased spending on pet health.
• Pet health encompasses the overall well-being of various domesticated pets, and treats play a crucial role in promoting their health.
• According to the American Pet Products Association, Americans spent $136.8 billion on pet health in 2022, reflecting a significant increase of 10.68% from the previous year.
• Pet snacks and treats serve as rewards during training, contribute to dental hygiene, and provide essential nutrients for a balanced diet.

2. Industry Leaders at a Glance: Major Players in the Pet Snacks and Treats Market:

• Key players in the pet snacks and treats market include Cargill Incorporated, Nestle S.A., Mars Incorporated, and many others.
• These industry leaders contribute to the market’s vibrancy, setting trends, and shaping the competitive landscape.

3. Trend Spotlight: Product Innovations in Pet Snacks and Treats:

• Product innovation emerges as a significant trend, with major companies focusing on developing new and inventive products.
• Wellness Pet Company, a US-based pet food company, introduced Good Dog by Wellness in May 2022 – an all-natural brand of dog treats.
• The Good Dog-happy puppy treats are specially designed for growing puppies, featuring purposeful ingredients like veggies and omega-rich flaxseed.
• These grain-free snacks support brain development, immune health, and overall well-being, offering pet parents a variety of options to address specific health and training needs.

4. Market Segmentation: Unraveling the Dimensions of Pet Snacks and Treats:a) By Product:

• Eatables
• Chewable 

  b) By Category:

• Conventional
• Organic

  c) By Pet Type:

• Dogs
• Cats
• Birds
• Fish
• Other Pets

  d) By Distribution Channel:

• Supermarkets And Hypermarkets
• Specialty Pet Stores
• Online
• Other Distribution Channels

  5. Regional Dynamics:

• North America takes the lead as the largest region in the pet snacks and treats market in 2022.
• Asia-Pacific is poised to be the fastest-growing region in the forecast period, indicating evolving market dynamics.

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The Pet Snacks And Treats Global Market Report 2023  provides an overview of the pet snacks and treats market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The pet snacks and treats market forecast analyzes pet snacks and treats market size, pet snacks and treats market share, leading competitor and their market positions.

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