Pet Snacks And Treats Market
Report ID: UCMIG30C2054
Pet Snacks And Treats Market Size
SkyQuest Technology's Pet snacks and treats market size, share and forecast Report is based on the analysis of market data and Industry trends impacting the global Pet Snacks And Treats Market and the revenue of top companies operating in it. Market Size Data and Statistics are based on the comprehensive research by our Team of Analysts and Industry experts.
Pet Snacks And Treats Market Insights
Market Overview:
The global market for pet snacks and treats achieved a value of $8.12 billion in 2022 and is projected to exhibit a compound annual growth rate (CAGR) of 5.2% from 2023 to 2030. In recent times, pet guardians in the United States have increasingly invested in the health and nutrition of their pets. This trend aligns with the expansion of specific pet food categories, such as wholesome treats, snacks, specialized pet foods, and premium alternatives. Even in the face of the COVID-19 pandemic and the subsequent global economic challenges, sales within the pet industry surpassed $29.17 billion in 2020. This expansion can be primarily attributed to the growing number of individuals embracing pet ownership, with many turning to pets for solace and companionship during the pandemic.
Pet Snacks And Treats Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Food Retail by segment aggregation, the contribution of the Food Retail in Food & Staples Retailing and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Pet Snacks And Treats Market Report Snapshots
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