At 7.8% CAGR, Vegan Dog Food Market Size & Share to Surpass – GlobeNewswire

June 27, 2022 08:40 ET | Source: The Insight Partners The Insight Partners
Pune, INDIA
New York, June 27, 2022 (GLOBE NEWSWIRE) — The Insight Partners has published a new research report titled Vegan Dog Food Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Dry Food, Wet Food, Treats, and Others); Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others); and Geography. The growth of the market is attributed to the rising popularity of plant-based diets amongst dog owners and the surging rate of pet adoption across North America, Europe, and Asia-Pacific.
The vegan dog food market in Asia-Pacific is projected to grow at the fastest CAGR during the forecast period. The Pet adoption rate across Asia-Pacific is significantly increasing. Dogs are amongst the most popular pets in Asia-Pacific countries, such as India. Many youngsters across the country are increasingly adopting dogs and puppies. For instance, according to the article published in Bloomberg Quint, the rate of puppy adoption in India surged by 50–100% in 2020 compared to 2019.

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Strategic Insights – Vegan Dog Food Market
Vegan Dog Food Market: Competition Landscape and Key Developments

Antos B.V.; Benevo; Bond Pet Foods, Inc.; V-dog; Soopa Pets; Vegan4dogs; Wild Earth; Yarrah; Isoropimene Zootrofe Georgios Tsappis Ltd.; and Halo Pets are among the key vegan dog food market players. The market players are aiming to cater to the rising consumption of vegan food to secure better market position. For instance, V-dog, a leading national dog food company committed to providing 100% vegan products, has been named one of the top plant-based products of 2020 by the editors of VegNews, the largest vegan media brand in the world. Moreover, Halo Pets with more than 1 million votes won the prestigious 2018 VegNews Veggie Award for “Best Dog Food,” leaping ahead of the competition. Such strategies are expected to boost the adoption of vegan dog food across different regions in the coming years.
Due to the COVID-19 outbreak pandemic and lockdowns, people readily adopted pets to spend their time at home. Moreover, the trend of veganism is rapidly emerging in Asia-Pacific as animal welfare concerns have acquired precedence in the minds of people. Thus, the rising trend of veganism amongst the people and the growing adoption of animals in Asia-Pacific are expected to create lucrative growth opportunities for the vegan dog food market in the region in the coming years.

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Growing Humanization of Pets
People value their pets and are also ready to spend significant money on keeping them healthy. Most pet owners always opt for products that have clean labels, sustainability claims, and functional nutrition. The majority of the global population considers their pet as a family member. More than half of the population in America owns a dog in their home. Dogs are known for their loyalty and bravery. The US has the highest dog population per capita, and there is one dog for every four people. In addition, some of the families own more than just one dog, making them an integral part of the household. Moreover, the number of pet-friendly workplaces in the US is increasing at a significant rate. The health and wellness of dogs are amongst the topmost priorities of dog owners. Vegan diet is gaining huge popularity amongst the owners. Vegan dog food offers various advantages. For examples, it helps reduce the odor of the dog’s feces and lower food deposits on bones and joints that can mitigate the risk of articular gout. Moreover, as vegan diet is clean, dogs fed with vegan food face less digestion problems. Cancer and hypothyroidism are less likely to strike. Thus, the rising popularity of vegan diet amongst the dog owners owing to its benefits is primarily driving the market growth. Moreover, as dog parents place a high priority on the well-being and health of their dogs, they are readily preferring vegan dog food, which is expected to propel the market growth during the forecast period.
Vegan Dog Food Market: Segmental Overview
Based on product type, the vegan dog food market is segmented into dry food, wet food, treats, and others. In 2020, the dry food segment accounted for the largest market share. Dry vegan dog food is made with various ingredients such as corn, rice, soybean, oats, chickpea, sunflower seed meals, pea protein, hydrolyzed vegetable meal, and flaxseed meal. The food is moisture-stable and does not need refrigeration. It is available in different forms, such as kibble, flaked cereals, and pellets. Dry dog food is high in fiber content. It helps in proper digestion of food. As the food does not require specific storage conditions, it is easy to carry to different places without any problem of deterioration. Therefore, dry vegan dog food is becoming popular amongst the dog owners.
Based on distribution channel, the vegan dog food market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The market for the online retail segment is expected to grow at the highest rate during the forecast period. E-commerce platforms are gaining huge popularity across the globe owing to the availability of different product brands under one roof, convenience provided by online platforms in choosing different products, delivery of products at doorsteps of consumers, and attractive discounts and offers. Moreover, online retail platforms have widespread distribution network and they deliver the products to remote areas. Owing to all these factors, dog owners are readily preferring online distribution channels over other platforms for buying vegan dog food, which is significantly driving the market growth for the online retain segment.

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In 2020, Europe held the largest share in the vegan dog food market. Rising trend of veganism and rising concerns related to pet health and nutrition are the primary factors driving the market growth. Veganism, or the practice of avoiding the use of animal products in one’s diet, is gaining popularity in the region.
Based on product type, dry food segment led the vegan dog food market in 2020. Dry foods are low in moisture and come in a variety of forms, including pellets, kibbles, and flaked cereals, among others. It is manufactured using ingredients such as corn, rice, soybean, oats, chickpea, sunflower seed meals, pea protein, hydrolyzed vegetable meal, flaxseed meal, and other plant-based components.
Based on distribution channel, in 2020, the supermarkets and hypermarkets segment led the global vegan dog food market. Supermarkets and hypermarkets are amongst the significant distribution channels for vegan dog foods, owing to factors such as the access to a greater range of products from well-known brands under one roof, ease of product selection, and discounts and attractive deals.
Based on distribution channel, the online retail segment is projected to grow at the fastest CAGR over the forecast period owing to factors such as ease of accessibility, availability of wide range of products, convenience offered by these channels in terms of delivery of the products, cashbacks, discount coupons, and attractive deals.
Based on product type, the treats segment is projected to register the fastest CAGR from 2021 to 2028. Vegan treats provide good nutrition, improve dental health of dogs, increase activity, and promote emotional well-being.

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Impact of COVID-19 Pandemic on Vegan Dog Food Market
The COVID-19 pandemic posed unprecedented challenges to several industries, such as the food & beverage industry. During the early months of the pandemic, the food processing industry faced raw material shortage and distribution problems due to nationwide lockdown, manufacturing plants shutdown, and border restrictions under COVID-19 safety protocols. Small enterprises struggled to operate and sell their products because of the implementation of the COVID-19 safety regulations. Due to the nationwide lockdown and border restrictions, supply chains were entirely disrupted, significantly impacting the sales of various food and beverage goods.  However, it was observed that many pet owners spent a significant amount of money on their pets’ health and nutrition. During lockdowns, people spent more time alone at home, which led to an upsurge in animal adoption. This factor has dramatically increased the demand for pet care items, such as pet food, positively impacting the global vegan dog food market. However, due to the shortage of raw materials and labor, there was a demand and supply gap, which hindered the sales and availability of products. Moreover, many distribution centers such as supermarkets and hypermarkets remained close due to lockdowns, which hampered product availability.
Businesses are gaining ground as previously imposed limitations are being eased across various locations. Moreover, the introduction of COVID-19 vaccines by governments of different countries has eased the situation leading to a rise in business activities across the world. Due to rising vaccination rates globally, the global marketplace has started recovering from the losses, which is expected to fuel the growth of the vegan dog food market. Moreover, e-commerce platforms played a significant role in reviving product sales because of their extensive logistics and distribution capabilities. The online retail platforms made the product available at the doorsteps of the consumers. These factors are projected to create lucrative opportunities for the market in the coming years.  

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Major Key Player – Vegan Dog Food Market


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