Pet Snacks And Treats Global Market Opportunities And Strategies To 2034

The pet snacks and treats market is segmented by product into eatables and chewable. The eatables market was the largest segment of the pet snacks and treats market segmented by product, accounting for 62.54% or $29.73 billion of the total in 2024. Going forward, the eatables segment is expected to be the fastest growing segment in the pet snacks and treats market segmented by product, at a CAGR of 10.75% during 2024-2029.

The pet snacks and treats market is segmented by category into conventional and organic. The conventional market was the largest segment of the pet snacks and treats market segmented by category, accounting for 85.06% or $40.44 billion of the total in 2024. Going forward, the organic segment is expected to be the fastest growing segment in the pet snacks and treats market segmented by category, at a CAGR of 11.01% during 2024-2029.

The pet snacks and treats market is segmented by pet type into dogs, cats, birds, fish and other pets. The dogs market was the largest segment of the pet snacks and treats market segmented by pet type, accounting for 53.48% or $25.42 billion of the total in 2024. Going forward, the dogs segment is expected to be the fastest growing segment in the pet snacks and treats market segmented by pet type, at a CAGR of 11.42% during 2024-2029.

The pet snacks and treats market is segmented by distribution channel into supermarkets and hypermarkets, specialty pet stores, online and other distribution channels. The specialty pet stores market was the largest segment of the pet snacks and treats market segmented by distribution channel, accounting for 41.74% or $19.84 billion of the total in 2024. Going forward, the online segment is expected to be the fastest growing segment in the pet snacks and treats market segmented by distribution channel, at a CAGR of 13.40% during 2024-2029.

North America was the largest region in the pet snacks and treats market, accounting for 43.19% or $20.53 billion of the total in 2024. It was followed by Western Europe, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the pet snacks and treats market will be Asia Pacific and Africa where growth will be at CAGRs of 15.38% and 10.87% respectively. These will be followed by South America and Eastern Europe where the markets are expected to grow at CAGRs of 10.16% and 10.05% respectively.

The global pet snacks and treats market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 35.25% of the total market in 2023. Nestlé Purina Pet Care (Nestlé SA) was the largest competitor with a 11.78% share of the market, followed by Mars Incorporated with 11.66%, Colgate-Palmolive Company (Hill's Pet Nutrition Inc.) with 5.00%, Spectrum Brands Holdings Inc with 1.86%, The J.M. Smucker Company with 1.67%, General Mills Inc. (Blue Buffalo) with 1.66%, Sunshine Mills Inc with 0.59%, BARK Inc with 0.57%, Diamond Pet Foods Inc with 0.28% and Freshpet Inc with 0.18%.

The top opportunities in the pet snacks and treats market segmented by product will arise in the eatables segment, which will gain $19.8 billion of global annual sales by 2029. The top opportunities in the pet snacks and treats market segmented by category will arise in the conventional segment, which will gain $25.13 billion of global annual sales by 2029. The top opportunities in the pet snacks and treats market segmented by pet type will arise in the dogs segment, which will gain $18.24 billion of global annual sales by 2029. The top opportunities in the pet snacks and treats market segmented by distribution channel will arise in the specialty pet stores segment, which will gain $13.23 billion of global annual sales by 2029. The pet snacks and treats market size will gain the most in the USA at $8.44 billion.

This report describes and explains the pet snacks and treats market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global pet snacks and treats market reached a value of nearly $47.55 billion in 2024, having grown at a compound annual growth rate (CAGR) of 11.60% since 2019. The market is expected to grow from $47.55 billion in 2024 to $77.55 billion in 2029 at a rate of 10.28%. The market is then expected to grow at a CAGR of 9.57% from 2029 and reach $122.46 billion in 2034.

Growth in the historic period resulted from the increased awareness of pet nutrition and health, increased pet population, increasing spending on animal healthcare and increasing pet food marketing and promotional campaigns. Factors that negatively affected growth in the historic period were increasing cost of pet food and regulatory barriers.

Going forward, the increased focus on transparency in ingredients and labeling in pet food, rise in sales of pet food through e-commerce medium, influence of social media and pet influencers and availability of functional and organic pet treats will drive the growth. Factor that could hinder the growth of the pet snacks and treats market in the future include allergies and dietary sensitivities in pets, short shelf life of natural ingredients and impact of trade war and tariff.

Market-trend-based strategies for the pet snacks and treats market include focus on innovative freeze-dried yogurt treats transforming pet nutrition, focus on new pet treat formulas focused on calming and dental care, focus on innovation in pet treats with the rise of non-GMO vegetable proteins, focus on strategic investment to strengthen footprint in the pet nutrition market and focus on advancing sustainable pet nutrition through collaborative innovation.

Player-adopted strategies in the pet snacks and treats market include focus on expanding business capabilities through new acquisition, focus on expanding business capabilities through new launches and focus on expanding business capabilities through strategic partnerships.

To take advantage of the opportunities, the analyst recommends the pet snacks and treats market companies to focus on developing innovative, functional pet snacks, focus on developing functional treats for targeted health benefits, focus on incorporating non-GMO plant-based proteins in pet treats, focus on eatables segment to drive growth in pet snacks and treats, focus on organic segment to capture rapid growth in pet snacks and treats, focus on dogs segment to maximize growth in pet snacks and treats, expand in emerging markets, focus on expanding manufacturing capacity to meet demand, focus on strategic partnerships to drive innovation and sustainability, focus on tiered pricing to maximize market coverage and profitability, focus on digital promotion to drive reach and engagement, focus on educational promotion to strengthen brand trust and loyalty and focus on online channel to capture rapid growth in pet snacks and treats.

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