Allied Market Research has published a report titled Functional Pet Treat Market 2021-2031 (Functional Pet Treat Market by Pet (Dog, Cat, And Others)). According to this document , the global functional dog and cat treat industry generated $291 million in 2021 and is set to reach a CAGR of 9.2% by 2031.
Manufacturers use product differentiation to increase sales by offering functional treats associated with specific diseases and targeted at different stages of life and certain breeds of pets. An increase in the humanization of pets and an increase in pet care costs is expected to drive the development of the functional treats market during the forecast period.
Products for dogs make up more than two-thirds of the offer. It is estimated that dog treats will continue to lead the way into the future, thanks to the need for people to keep these animals for companionship and safety. However, the production and sale of functional cat treats is expected to grow very rapidly, with a CAGR of 9.5% between 2022 and 2031.
The most popular treats in 2021 were those containing ingredients to reduce the risk of skin diseases, such as oats and barley. They made up almost a third of the market. According to the forecast, such products will maintain their leading position during the forecast period. But the highest average annual growth rate from 2022 to 2031 - at 11.9% - experts expect for products designed to maintain brain health. This should be due to increased awareness among pet owners about pet mental health issues and the availability of functional treats that can control and improve the mental health of four-legged companions.
In terms of distribution channels for treats, in 2021 the largest share — almost two-fifths of the global market — was in the pet store segment. The rapid growth in the number of pet supply stores in developing countries will help maintain this position. The online shopping segment from 2022 to 2031 will show the highest average annual growth rate of 10%. This is due to the increase in the use of various online portals in developing regions and the increase in the number of offers or discounts provided.
According to the authors of the report, the top players in the functional treat market include Better Choice Company Inc., Sunshine Mills Inc., The J.M. Smucker Co., Plato Pet Treats, Mars Incorporated, Real Pet Food Company Pvt. Ltd., General Mills Inc., Thai Union Group PCL., Wellness Pet Company, Inc. and Natural Balance Pet Foods, Inc., Colgate-Palmolive Company, Nestle S.A., Nulo Pet Food, Pure Treats Inc . and Charoen Pokphand Foods PLC.
Source: Pet Food Industry
Photo: DenisNata / AdobeStock
Manufacturers use product differentiation to increase sales by offering functional treats associated with specific diseases and targeted at different stages of life and certain breeds of pets. An increase in the humanization of pets and an increase in pet care costs is expected to drive the development of the functional treats market during the forecast period.
Products for dogs make up more than two-thirds of the offer. It is estimated that dog treats will continue to lead the way into the future, thanks to the need for people to keep these animals for companionship and safety. However, the production and sale of functional cat treats is expected to grow very rapidly, with a CAGR of 9.5% between 2022 and 2031.
The most popular treats in 2021 were those containing ingredients to reduce the risk of skin diseases, such as oats and barley. They made up almost a third of the market. According to the forecast, such products will maintain their leading position during the forecast period. But the highest average annual growth rate from 2022 to 2031 - at 11.9% - experts expect for products designed to maintain brain health. This should be due to increased awareness among pet owners about pet mental health issues and the availability of functional treats that can control and improve the mental health of four-legged companions.
In terms of distribution channels for treats, in 2021 the largest share — almost two-fifths of the global market — was in the pet store segment. The rapid growth in the number of pet supply stores in developing countries will help maintain this position. The online shopping segment from 2022 to 2031 will show the highest average annual growth rate of 10%. This is due to the increase in the use of various online portals in developing regions and the increase in the number of offers or discounts provided.
According to the authors of the report, the top players in the functional treat market include Better Choice Company Inc., Sunshine Mills Inc., The J.M. Smucker Co., Plato Pet Treats, Mars Incorporated, Real Pet Food Company Pvt. Ltd., General Mills Inc., Thai Union Group PCL., Wellness Pet Company, Inc. and Natural Balance Pet Foods, Inc., Colgate-Palmolive Company, Nestle S.A., Nulo Pet Food, Pure Treats Inc . and Charoen Pokphand Foods PLC.
Source: Pet Food Industry
Photo: DenisNata / AdobeStock
