Dog Food and Snacks Market size to exceed $91.34bn by 2027
Published Date: June 14, 2021 Authors: Kiran Pulidindi, Soumalya Chakraborty
Dog Food and Snacks Market size is forecast to exceed USD 91.34 billion by 2027, according to a new research report by Global Market Insights Inc.
Rapid urbanization is expected to increase the number of nuclear families living globally. It is a growing global trend to adopt dogs and consider them as part of the family. This results in spending more money on dog adoption and on their healthcare facilities. The human-animal bond offers a higher level of self-esteem and courage among children as dogs can be an important companion. Besides, the safekeeping of families and properties has led to an increased demand for trained dogs. These factors boost the adoption of dogs, which further leads to concerns related to dog health and diet. These concerns inspire the usage of dog food & snacks, contributing to an increase in market size by 2027.
Dogs are perfect companions for the aged population as dogs can easily adapt to different activities, likes, and lifestyles. Aged people have several health issues including fluctuating triglyceride levels, blood pressure, and cholesterol levels, which can be maintained by everyday activities with their companions. Smaller breeds generally cuddle on laps and bigger breeds can romp around & play, which increase the affection of dog owners toward their dogs. These activities need proper diet & care and pet owners are aware of the quality & natural solutions for their pets, which are likely to increase product demand in the upcoming period.
Several dog breeds are fit for police & military training and need special diets & nutrients for strong teeth and bones. Similarly, athletic dogs need a protein diet to build and maintain muscles as they are trained for entertaining sports, such as dog jumping and greyhound racing, which will also drive the dog food and snacks market statistics during the forecast period. The COVID-19 pandemic has positively impacted the dog food and snacks industry as consumers stocked up pet food products. Moreover, people are working from home and likely to change their lifestyles by adopting pets for emotional and mental support during the pandemic, which are expected to propel the product demand over the projected time.
Browse key industry insights spread across 185 pages with 178 market data tables & 23 figures & charts from the report, “Dog Food and Snacks Market Statistics, By Type (Dog Food, Treats & Mixers), Distribution Channel (Specialized Pet Food, Supermarket/Hypermarket, Online), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021-2027” in detail along with the table of contents:
The dry dog food segment will prove to be the fastest-growing product type by 2027
The dog food segment of dog food and snacks market provides specific nutrition to dogs based on the age, breed, diet, and serving option (wet or dry), providing a better option for owners to select from. Dry dog food accounted for over 70% of the market share in 2020 owing to its several advantages including improved digestion, better dental hygiene, and a stronger immune system.
Distribution through e-commerce will grasp a significant market share in 2021
In the current pandemic scenario, distribution through online platforms has showcased considerable growth owing to country-wide lockdown and disruption of logistics & supply channels. Online distribution channels will contribute to a fair share of over 20% by 2027. This distribution channel is well-known as it offers extensive types of dog food & treats with specifications to choose from. Moreover, the large availability of convenient & economical products and increasing use of e-commerce & other online selling platforms are likely to upsurge the product demand in the coming years.
Asia Pacific to display solid growth throughout the forecast time frame
APAC dog food and snacks market is projected to register more than 4% CAGR through 2027. Improving lifestyles, rising disposable incomes, rising high-income population & nuclear families, and steady improvement in the economic conditions of countries including China, Japan, India, and South Korea will promote significant business growth.
Moreover, many federal governments in the region are repeatedly promoting and investing in the pet food & snacks industry to create jobs, which will increase the economic growth of the country and propel the overall market growth across the region.
The dog food and snacks market are extremely competitive with the presence of several players including Mars, Incorporated, Nestle SA, Colgate-Palmolive Co., The J.M. Smucker Company, Schell & Kampeter, Blue Buffalo, Ltd., Unicharm Corp., Nippon Pet Food Co., Ltd., Champion Petfoods lp, United Petfood, and Tiernahrung Deuerer GmbH.