Dog Treats Market Revenue Forecast by Fact MR

The increasing trend of people adopting dogs as status symbols is expected to drive up the demand for dog treats. According to data from Fact.MR, a market research and competitive intelligence provider, the global dog treats market (개 간식 시장) is projected to reach a value of US$ 275 billion by the end of 2033. This market is anticipated to grow at a compound annual growth rate (CAGR) of 22.5% throughout the forecast period from 2023 to 2033.

People are adopting dogs and other pets to tackle anxiety and loneliness. Thus, rising pet ownership is resulting in increased demand for pet treats around the world. Furthermore, individuals from middle-income groups across developing nations such as Thailand, India, etc., are willing to spend a higher amount of money on nutritious foods for their pets, which is expected to generate lucrative opportunities for dog food providers over the coming years.

Dog treats are widely used as dietary supplements, which are given to dogs to keep them engaged and active. These are also used as medicinal supplements for dogs. Dog treats generally constitute only a minor part of the routine nutrition for dogs to meet adequate nutritional standards.

The rising trend of pet humanization owing to the increasing millennial pet ownership is resulting in increasing premiumization of dog treats across the globe. In addition, the rising disposable income of people is also contributing to their increased purchasing power. Further, nutritional and safety requirements of pets are serving as significant factors stimulating the demand for dog treats. People are becoming aware of ingredients used in dog treats. In addition, they are also emphasizing the labeling of different dog treat products. Thus, the growing trend of pet humanization is estimated to serve as one of the pivotal factors propelling the demand for dog treats around the world over the coming 10 years.

List of Key Companies Profiled in The Report

• Ani Brands
• The J. M. Smucker Company
• Spectrum Brands Holdings, Inc.
• Plato Pet Treats
• Nestle SA
• Mars, Inc.
• Grandma Lucy’s LLC
• Others

Key Takeaways from Market Study

The worldwide demand for dog treats is expected to soar, reaching a market valuation of US$ 275 billion by the end of 2033. This impressive growth is forecasted to occur at a compound annual growth rate (CAGR) of 22.5% during the forecast period from 2023 to 2033. Currently, in 2023, the global dog treats market is valued at US$ 36.1 billion, highlighting the significant expansion anticipated over the next decade.

Regionally, the demand for dog treats in Canada is expected to rise at a CAGR of 20.1%. Meanwhile, Germany is also projected to see substantial growth in this market, with sales increasing at a CAGR of 18% from 2023 to 2033. In terms of product segments, the wet food category is anticipated to grow steadily, advancing at a CAGR of 4.9% over the same period. This data underscores the burgeoning interest in high-quality dog treats across various regions and product types.

Competitive Landscape

In the fiercely competitive arena of dog treats, major providers are strategically investing in fortifying their supply chain management systems to ensure the seamless delivery of end products to both local and global platforms. These robust distribution channels play a pivotal role in guaranteeing the timely delivery of high-quality products to the targeted customer base. Moreover, stringent guidelines established by regulatory bodies are in place to minimize the environmental impact of these products.

Key suppliers within the dog treats industry are actively engaged in pioneering developments to introduce enticing treats for our canine companions.

As an illustrative example, Dogsee Chew, a prominent Indian manufacturer specializing in natural pet products, made significant strides in July 2022. The company successfully launched two new product lines, namely Dogsee Play Treatoy and Dogsee Singles, in the thriving Indian market. The Dogsee Singles line stands out with its offering of natural hard chew bars, available in delightful coconut and carrot flavors. Notably, the manufacturing of these products incorporates Himalayan cheese. On the other hand, the Treatoy line introduces a unique concept of treat-cum-toy, crafted from non-toxic materials to ensure the safety of dogs during playtime. Such innovative endeavors underscore the commitment of key players to pushing the boundaries of creativity and product offerings in the dynamic dog treats market.