Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Vegan Pet Food Market size is expected to reach $14.1 billion by 2028, rising at a market growth of 5.7% CAGR during the forecast period.
The Conventional segment acquired the maximum revenue share in the Global Vegan Pet Food Market by Form in 2021, thereby, achieving a market value of $10.1 billion by 2028. This is due to the high consumption of conventional vegan pet food among pets globally. Conventional vegan pet food is made from regularly grown farm products. These are widely available and thus, there is a high demand for them.
The Wet segment is showcasing a CAGR of 5.9% during (2022 - 2028). Wet food items have a high moisture content, which helps to keep pets hydrated whilst also being excellent for their urinary tract. Wet form food comes in cans, foils trays, and pouches and contains a lot of moisture.
The Dogs segment is leading the Global Vegan Pet Food Market by Pet Type in 2021, thereby, achieving a market value of $6.1 billion by 2028. This is due to an increase in the number of nuclear households and consumers' increased need for companionship and security from dogs. Furthermore, in order to remain healthy, dogs require a range of nutrients. As a result, dog owners have concentrated on feeding their dogs appropriate pet food that contains important nutrients in order to keep them healthy. As a result, these variables are expected to improve the segment's growth during the forecast period.
The Specialty Stores market dominated the Global Vegan Pet Food Market by Distribution Channel in 2021, thereby, achieving a market value of $5.3 billion by 2028. The significant consumer preference for buying products from major retail outlets, where consumers are offered an abundance of alternatives in terms of brands and pricing, can be ascribed to this dominance. Attractive shelf-arrangements at specialized dog and cat food retail shops, as well as increased availability of unusual, custom-designed, and premium pet food products in these stores, are likely to fuel the segment's expansion.
The North America is the fastest growing region in the Global Vegan Pet Food Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5.4 billion by 2028, growing at a CAGR of 5.2 % during the forecast period. The Europe market is estimated to witness a CAGR of 5.3% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 6.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/vegan-pet-food-market/
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Colgate-Palmolive Company, Mars, Inc. (API Fish Care), Nestle S.A., United Natural Foods, Inc. (Wild Harvest), V-Dog, Inc., The Pack Pet Limited, Supreme Pet Foods Ltd., Freshpet, Inc., and Evolution Diet Pet Food Co.
By Pet Food Type
By Pet Type
By Distribution Channel
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