Pet Treats Market Size, Share, Trends, Growth 2032

Pet Treats Industry Prospective:

The global pet treats market size was evaluated at $8,140 million in 2023 and is slated to hit $14,500 million by the end of 2032 with a CAGR of nearly 5.3% between 2024 and 2032.

Request Free Sample

Pet Treats Market: Overview

Pet treats are food items given to various pets and these items are extracted from plant as well as animal ingredients such as fat oils, meat, cereals, vegetables, fat oils, and fruits. Furthermore, pet treats include crunchy & chew snacks, biscuits & cookies, and various other food items. Moreover, it provides health awareness for pets such as dental health and joint flexibility.    

Key Insights

• As per the analysis shared by our research analyst, the global pet treats market is projected to expand annually at the annual growth rate of around 5.3% over the forecast timespan (2024-2032)
• In terms of revenue, the global pet treats market size was evaluated at nearly $8,140 million in 2023 and is expected to reach $14,500 million by 2032.
• The global pet treats market is anticipated to grow rapidly over the forecast timeline owing to a rise in pet care activities and an increase in per capita income.
• In terms of pet type, the dogs segment is slated to register the highest CAGR over the forecast period.
• Based on form, the dry segment is expected to dominate the global pet treats market share in terms of revenue in the forecasting years.
• Based on distribution channel, the supermarkets & hypermarkets segment is predicted to lead the segmental space in the upcoming years.
• Region-wise, the Asia-Pacific pet treats industry is projected to register the fastest CAGR during the projected timespan.

Pet Treats Market: Growth Factors

An increase in the adoption of pets across the globe is likely to steer the global market surge by 2032

A rise in pet care activities and an increase in the per capita income is likely to drive the growth of the global pet treats market. The availability of a robust distribution system for the product and strategies such as product innovations implemented by the product manufacturers will prop up the scope of the global market demand. A surge in pet ownership can embellish the expansion of the global market. The humungous popularity of organic pet treats among the end-users is projected to steer the growth of the market globally.

Moreover, the necessity of a healthy & nutritious diet for pets is anticipated to spearhead the expansion of the market across the globe. Launching of new products is anticipated to contribute sizably towards the global market proceeds in the years ahead. For instance, in February 2024, Coop Italia, a consumer co-operative Italian firm operating one of the largest supermarket chains, introduced more than 200 new pet food SKUs across its four pet treat product portfolios. The strategic move is likely to augment the growth of the market across the globe.

Pet Treats Market: Restraints

An increase in the prices of raw materials can obstruct the global industry surge over 2024-2032

Lack of uniformity in the pet treat laws can put brakes on the expansion of the global pet treat industry. The rise in the costs of raw components used for manufacturing pet treats is projected to hinder the growth of the industry globally.  

Pet Treats Market: Opportunities

A rise in the acceptance of puppies in Western countries is likely to open new growth opportunities for the global market

A massive adoption of puppies in European countries and the U.S. is likely to open a slew of opportunities for the global pet treats market.  

Pet Treats Market: Challenges

Stringent regulations about animal products in pet treat preparation to challenge the growth of the global industry by 2032

Strict government laws regarding the use of animal products in pet treats along with oscillation in the supply chain activities across the globe can prove to be a huge challenge for the global pet treats industry surge.

Pet Treats Market: Segmentation

The global pet treats market is sectored into pet type, form, distribution channel, and region.                                          

In pet type terms, the pet treats market across the globe is segregated into cats, dogs, and others segments. Furthermore, the dogs segment, which acquired nearly 49% of the global market proceeds in 2023, is anticipated to register the highest gains over the period from 2024 to 2032. The expansion of the segment from 2024 to 2032 can be due to a rise in the demand for pet treats such as vegetarian treats.  

Based on the form, the global pet treats industry is sectored into dry and wet segments. Additionally, the dry segment, which gathered a lucrative share of the global industry in 2023, is predicted to dominate the segmental growth in the upcoming years. The segmental progression from 2024 to 2032 can be owing to an increment in the demand for pet treats in dry form as the product can be easily stored without the requirement of a refrigerator.  

Based on the distribution channel, the global pet treats market is divided into online retail stores, supermarkets & hypermarkets, and specialty stores sectors. Additionally, the supermarkets & hypermarkets segment, which led to global market expansion in 2023, is anticipated to lead the global market expansion during the timeline from 2024 to 2032. The growth of the segment in the coming eight years can be due to a rise in the availability of pet treats in supermarkets & hypermarkets.

Pet Treats Market: Report Scope

Pet Treats Market: Regional Insights

North America is anticipated to retain the numero uno position in the global pet treats market in the forecast years

North America, which accounted for nearly 70% of the global pet treats market earnings in 2023, will be a dominating region in the coming eight years. In addition to this, the regional market elevation over the forecast timeline can be attributed to an increase in the demand for fresh treats by pet owners in countries such as Canada and the U.S. Apart from this, the presence of key product manufacturers in the region will steer the expansion of the market in the sub-continent. A rise in the use of sustainable packaging for pet treats adopted by the players of the region is likely to drive the regional market trends.        

Asia-Pacific pet treats industry is anticipated to register the fastest CAGR in the forecast timeline. The expansion of the industry in the APAC zone can be subject to a rise in the prescription of functional foods by veterinary doctors. In addition to this, the launching of plant-based diets for pets in countries such as India and Nepal is likely to prompt a regional industry surge.                 

Key Developments

• In August 2023, Worldwise, Inc., a leading U.S.-based firm in the pet food producing business, announced the launch of Treatly, a new pet treats & chews brand. The strategic move is likely to provide impetus to the growth of the pet treats market in the U.S.
•   In the first half of 2024, Besties Pets Company, an online retail firm providing a spectrum of pet products & pet accessories, declared the introduction of new pet products. Such initiatives are predicted to proliferate the size of the market globally.
• In September 2023, Omni, a UK-based vegan pet food firm, introduced a wet vegan dog food product that tastes like meat.
• In January 2024, Swedencare, a key pet health product provider, introduced WelliChews, a key product portfolio of functional soft chews for improving the health & wellness of pets in Europe. 

Pet Treats Market: Competitive Space

The global pet treats market profiles key players such as:

• Arden Grange Pet Foods
• Mars Petcare Inc.
• V-Dog
• Royal Canin
• Captain Zack
• Nestle S.A.
• The Hartz Mountain Corporation
• Hill's Pet Nutrition Inc.
• Canine India
• The Pack
• Pet Munchies
• Wild Harvest
• The Pet Beastro.

The global pet treats market is segmented as follows:

By Pet Type

• Cats
• Dogs
• Others

By Form

• Dry
• Wet

By Distribution Channel

• Supermarkets & Hypermarkets
• Online Retail Stores
• Specialty Stores

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa