Global Vegan Pet Food Market Size, Share & Industry Trends Analysis Report By Form, By Pet Food Type, By Pet Type, By Distribution Channel, By Regional Outlook and Forecast, 2022 – 2028 – Yahoo Finance

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. People care about their dogs and are willing to spend a lot of money to keep them healthy.
New York, June 02, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Vegan Pet Food Market Size, Share & Industry Trends Analysis Report By Form, By Pet Food Type, By Pet Type, By Distribution Channel, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06283474/?utm_source=GNW
Vegan pet owners choose to provide vegan food to their animals. Clean labeling, sustainability promises, and appropriate nutrition are always preferred by most pet owners. Pet owners are increasingly looking for labeling and packaging that reflect their specific feeding preferences and requirements. The majority of Europeans consider their pet to be a member of their family. Dogs and cats are the most popular pets among other animals, such as birds, rabbits, fish, and others, due to their friendly nature.

Dogs are renowned for their bravery and loyalty. Furthermore, some of the households have more than one dog. Additionally, the number of pet-friendly workplaces is rapidly expanding throughout the world. Many parents ask their children to look after their pets on their own. It gives them company and aids in the development of a sense of responsibility. Some young couples choose to begin their family by adopting a dog and raising it as if it were their child.

Pets have varied roles in each family since they are trained differently in different cultures. This increased humanization of pets raises awareness of the quality and ingredients of pet food provided by owners, resulting in a surge in demand for vegan pet food. People are also more worried about the slaughter of helpless animals and the environmental destruction caused by animal husbandry. Some people are devoted to their pets and recognize that animals, like humans, experience pain, hunger, love, joy, fear, thirst, and loneliness. As a result, they favor vegan diets for both themselves and their dogs, boosting the vegan pet food business.

COVID-19 Impact

The global vegan pet food sector is benefiting from the COVID-19 pandemic. During the pandemic, there was a spike in demand for vegan pet food among pet owners. This occurred because as people stayed at home, it resulted in a higher rate of pet adoption, which in turn increased demand for pet food and vegan pet food. Various sales channels, like hypermarkets/supermarkets and specialized stores, were shut down as a result of rigorous lockout policies, resulting in a modest decrease in the availability of vegan pet food. Numerous significant businesses, on the other hand, are shifting their sales channels to the internet, and they are working to boost the volume of pet food production.

Market Growth Factors

The Humanization of Pets and Increase in Rate of Pet Ownership

Pet humanization has become a buzzword in the mainstream media around the world in recent years. The transition from pet ownership to pet parenting has been a significant and fundamental development in the pet food industry, particularly in developed nations. In prosperous countries, more than one-third of families have a pet. As a result, as pets become more humanized, the pet food business is predicted to rise. The growing relationship between pet owners and their pets’ influences consumers’ willingness to spend more on pet food. The optimum health of their pets is becoming one of the topmost priorities of pet owners. They try to keep their pets healthy by giving them a proper nutrient-filled diet that is easy to digest.

Increasing Acceptance of Vegan Food Products

The invention of vegan alternatives in pet the food market has arrived at an opportune moment as the vegan pet owners want their pets to adapt to this lifestyle along with them. This discovery has been critical for industry growth. Organic dog food has a number of health benefits for dogs, including fewer skin allergies and diseases, fewer digestive disorders, improved general health, and a higher quality of life. The global expansion of dog ownership is being driven by changing family structures and lifestyles that encourage pet adoption, resulting in increased demand for organic dog food. Vegan formulations are widely used to help dogs with digestive difficulties such as stomach upset, constipation, and bloating.

Market Restraining Factors

Lack of Uniformity in Regulations Limits International Trade

According to the Federal Food, Drug, and Cosmetic Act of 1938, animal food must be safe to eat and produced in sanitary conditions (FFDCA). There must be no harmful components in the foods, and they must be labeled as correctly as possible. The Food Safety Modernization Act of 2010 (FSMA) set certification, sterilization, cleanliness, and ingredient labeling requirements for pet food manufacturers in the United States. In contrast to the Asia Pacific and South American areas, the animal feed industry is subject to stringent government regulations. When it comes to pet food ingredients, preservatives, ethoxyquin, and food colorings are all controlled differently in different countries.

Form Outlook

Based on Form, the market is segmented into Conventional and Organic. The organic segment garnered a substantial revenue share in the vegan pet food market in 2021. As people are becoming more aware about harmful effects of pesticides and artificial fertilizers on the planet as well as the human health, they are attempting to move to organic food. This holds true for the vegan pet food market as well. Pet owners want their pet to only eat healthy organic vegan pet food made from organically grown products.

Pet Food Type Outlook

Based on Pet Food Type, the market is segmented into Dry, Wet, Treats & Snacks, and Others. The dry pet food segment acquired the largest revenue share in the vegan pet food market in 2021. Dry pet food is the most popular and fastest-growing type of pet food. Furthermore, the dry pet food market is in high demand due to the convenience it provides to pet owners. Dry food minimizes tartar and plaque development on dogs’ teeth, allowing them to maintain proper dental hygiene. In addition, this product category delivers the crunch and chewing that animals require to stay healthy. Dry food does not need to be frozen as much as canned food.

Pet Type Outlook

Based on Pet Type, the market is segmented into Dogs, Cats, and Others. The cat segment witnessed a substantial revenue share in the vegan pet food market in 2021. Cats require a lot of sulfuric amino acids like methionine, as well as taurine, an amino sulfone. Companies have increased their investments to meet the special needs of cats as a result of their distinct needs. The practice of owning numerous cats is gaining popularity around the world, propelling the industry forward. Cats, on the other hand, require less training and can spend more time alone than dogs.

Distribution Channel Outlook

Based on Distribution Channel, the market is segmented into Specialty Stores, Supermarket/Hypermarket, Online, and Others. The online segment observed a substantial revenue share in the vegan pet food market in 2021. Due to the global development of internet penetration and smartphones, which accelerates demand for vegan pet food, the online sales channel is the fastest expanding segment by distribution channel. However, because of the increased consumption of vegan pet food, the specialty stores segment is likely to remain the market’s largest and most dominant segment. The widespread availability of pet food through a number of outlets, ranging from modern trade to online sales channels, has aided industry expansion. Furthermore, the availability of pet food on e-commerce platforms has allowed people to purchase goods without having to leave their homes. E-commerce not only offers convenience and comfort, but also allows purchasers to do in-depth product research, compare pricing and benefits, and evaluate total value before making a purchase.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America acquired the largest revenue share in the vegan pet food market in 2021. This is due to the high rate of pet adoption in American households. Customers in North America have a positive attitude toward pet humanization, and it is widely accepted, which will help the regional market grow even more. Besides, the popularity of veganism is also on the rise in the United States and Canada, major countries in the region.

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.

Strategies Deployed in Vegan Pet Food Market

Jan-2022: Mars Petcare took over Nom Nom Now, a brand based in Nashville. Under this acquisition, Mars Petcare would assimilate the newly acquired brand within its Royal Canin division. This acquisition aimed to supplement the success of Nom Nom Now while complementing the portfolio of Mars Petcare.

Nov-2021: Hill’s Pet Nutrition joined hands with Bond Pet Foods, a company which utilizes precision fermentation to create meat proteins for pet food uses. The collaboration aimed to manufacture a more sustainable products to be an alternative to one of Hill’s most popular meat-based items. The fermented protein would be designed keeping in mind the dietary requirements of dogs and cats.

Nov-2021: V-Planet teamed up with Green Monday, a Hong Kong pioneer in vegan food. The collaboration aimed to release the V-Planet’s plant-based dog food range in Green Monday’s Shanghai Gheen Common outlets.

Sep-2021: THE PACK released a new variety of its wet food with which it is aiming to revolutionize the pet food industry. This launch would create numerous plant-based meat analogue wet dog food flavor.

Sep-2021: Freshpet unveiled its first-ever fresh, vegetarian dog food called Spring & Sprout. Spring & Sprout which has generated by Freshpet’s finest veterinarian nutritionists is a combination of plant-based protein, fruits and vegetables and cage-free eggs to provide dogs a balanced diet.

Jan-2021: Mars Petcare expanded its geographical footprints by establishing a manufacturing plant in Fort Smith, Arkansas, US. The expansion aimed to fulfill the growing needs of their customers. The expansion would create an additional 200,000ft² of space as well as two extra production lines to expand the production capacity by more than 40%.

Nov-2020: V-planet entered into a partnership with Dream Pet Foods, a distributor of pet foods in South Korea. Under this partnership, V-Planet made its plant-based pet food accessible to the pet owners across South Korea.

Nov-2020: V-planet announced the introduction of dental chews and treats to its product line. The newly launched products is available everywhere V-Dog products are distributed. Dental bones, which are a part of the newly launched products and available in two sizes: mini and regular, are hard chews created to freshen a dog’s breath. The treat section includes Wiggle Biscuits which are available in two flavors – blueberry and peanut butter – and are produced using USDA-organic superfoods.

Nov-2020: V-Planet expanded its geographical footprints by releasing its products in Japan. V-Planet introduced its kibble and snacks in the region through a Japanese distributor of plant-based and whole foods in Kyoto. The plant-based pet food were options were severely limited in Japan before the company brought its totally balanced vegan and pet-approved option for environmentally conscious pet owners.

Scope of the Study

Market Segments covered in the Report:

By Form

• Conventional

• Organic

By Pet Food Type

• Dry

• Wet

• Treats & Snacks

• Others

By Pet Type

• Dogs

• Cats

• Others

By Distribution Channel

• Specialty Stores

• Supermarket/Hypermarket

• Online

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• 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.

• Evolution Diet Pet Food Co.

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06283474/?utm_source=GNW

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