Dog Food and Snacks Market size to exceed $90bn by 2027
Published Date: July 19, 2021 Authors: Kiran Pulidindi, Sayan Mukherjee
Dog Food and Snacks Market size is forecast to exceed USD 90 billion by 2027, according to a new research report by Global Market Insights Inc.
The increasing adoption of pets across the globe is the primary driver for the dog food and snacks industry growth during the forecast period. The aging population across the globe has been a major contributor in the demand for companion animals. Dog ownership provides opportunities for outdoor activities & exercise, and improved socialization. These factors also reduce health risks such as high triglyceride levels, blood pressure & cholesterol levels in aged population. The above-mentioned factors will boost the adoption of dogs and indirectly aid dog food and snacks market expansion.
Dogs are used by the police and other defense agencies to counter criminal & terrorist activities. This has led to an increase in the demand for specific dog food and snacks to provide a nutritious diet to these trained dogs. The rising adoption of dogs to overcome autism in teens, ward off depression, and reduce the risks of heart diseases along with increasing disposable incomes will fuel the demand for high-quality functional ingredients in dog food and snacks.
Browse key industry insights spread across 295 pages with 352 market data tables & 27 figures & charts from the report, “Dog Food and Snacks Market Statistics By Raw Material (Plant-based, Animal-based), Type (Food [Dry, Wet], Treats & Mixers), Cost Category (Premium Pet Food, Mass/Bulk Pet Food), Distribution Channel (Specialized Pet Food Shops, Supermarkets/Hypermarkets, Online), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Increasing consumption of plant-based dog food and snacks
Raw materials used in the production of dog food & snacks include poultry, meat & seafood, soybean meal, and feed grains, which are primary ingredients. Animal-based raw materials currently account for the majority of the market share. However, plant-based pet food produced from cereal grains, such as cornmeal, soybean meal, barley, and cracked wheat, is used regularly to improve product consistency, and reduce raw material costs.
Increasing consumption of wet food products by dogs
Dog food is categorized into dry dog food & wet dog food. Dog food held the highest consumption rate of over 65% in terms of volume in 2020 and is highly consumed as it offers large portion per meal serving without adding any extra calories to diet and serves as a regular meal to dogs as compared to treats.
Treats & mixers particularly act as a snack and are mainly fed to dogs during the course of their training. These treats and mixtures mainly include biscuits & snacks, cookies, rawhide & bones, jerky, etc. Besides this, treats & mixers also provide chewing strength to their jaws.
Increasing consumption of premium pet food
Dog food and snacks market from premium pet food is anticipated to grow at a CAGR of 5% from 2021 to 2027. The rising consumer spending on pet food has enhanced the demand for premium & low carbohydrate pet food, enhancing the market share in terms of revenue. The availability of a variety of products that taste like human food along with several health benefits is expected to enhance the global market expansion over the forecast period.
Rising sales of dog food & snacks through online distribution channels
Specialized pet food shops accounted for around 25% of the global revenue share in 2020. They offer a wide range of pet food products with vital specifications to select from. Online distribution channels are witnessing a rise in the demand for dog food & snacks, with attractive growth prospects in the coming years.
Europe to exhibit promising gains until 2027
North America is forecast to contribute over 35% of the dog food and snacks market revenue by 2027. The federal governments in the region are constantly investing in the pet food & treats industry to generate jobs, which will increase the economic growth of the country. The Europe dog food & snacks industry is expected to hold around 30% market share by 2027. The growing ownership of dogs in Europe on account of robust disposable income along with increasing aging population is expected to boost the overall industry share.
Some of the top players in the dog food and snacks market include Mars Petcare Inc., Nestle SA, The J.M. Smucker Company, Nippon Pet Food, Colgate-Palmolive, Blue Buffalo, Schell & Kampeter. (Diamond pet food), Tiernahrung Deuerer, Champion Petfoods LP, and United Pet Group, among others.