The vegan dog food market is forecast to shows steady rise with its overall valuation reaching US$ 12.22 Bn in 2021. As per Future Market Insights (FMI), vegan dog food sales are expected to surge at 6.9% CAGR between 2021 and 2031. Overall growth forecast for the market will remain positive for the assessment period.
The global vegan dog food market is primarily driven by the increasing demographics for vegan population. The growing opportunity for vegan dog food due to rising pet ownership, along with increasing demand for healthy pet food products will spur the overall market growth around the world.
According to a new report by Future Market Insights (FMI), the market is set to rise at a CAGR of 6.9% through the end of the forecast period in 2031 with a valuation of over US$ 12.22 Bn.
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The increasing focus on the health of dogs has augmented the market demand for vegan dog food.
Dog owners are looking for food products with higher nutritional value. The growing awareness regarding healthy dog food is propelling the demand of vegan dog food in the market. These aspects are encouraging product launches, subsequently driving overall growth.
- In May 2020, Bond Pet Foods, Inc., has introduced its first consumer product – animal-free, a high-protein dog treat bar. The company is headquartered in the U.S. and work with biotechnology to produce the convenient Protein-Packed treat bar for dogs that has been accepted by veterinary nutritionists for high palatability and digestibility.
Key Takeaways from the Vegan Dog Food Market Study
- In terms of nature, conventional vegan dog food is most preferred and will hold a dominant share of more than 81.2% in 2021. It is expected to grow at a CAGR of 6.0% over the forecast period.
- Kibbles or dry vegan dog food will hold the maximum share of 24.3% in 2021 exhibiting a CAGR of 5.8% in the forecast period.
- Puppies are dominating the global vegan dog food industry in terms of age group with the market share of 53.6% in 2021.
- Among the sales channel, store based retailing is the most preferred and holds a dominant share of more than 86.4% in 2021 and is expected to grow at a CAGR of 6.1% over the forecast period.
- Bags will hold the maximum share of 36.8% in 2021. The use of stand-up bags in the pet food packaging business is the newest trend.
“The expansion of the vegan industry has evidently created opportunities vegan dog food sales. Besides this, awareness regarding their pet’s health and wellbeing has attracted pet owners to shift towards vegan diet for their dogs.” said a lead analyst at FMI
Who is winning?
To meet the rising demand from customers, manufacturers are investing extensively to refresh their stocks with vegan dog food products. For instance:
- In May 2020, Nestlé Purina PetCare, has announced about the series of investments (CHF 100 million) in plants, such as plant-based pet food products, this will further build up the company’s footprint in the Chinese market.
- In November 2019, Nestlé Purina PetCare authoritatively opened its 21st U.S.-based pet care product production unit in the Hartwell. Purina will manufacture its wet pet food brands, including Purina ONE, Pro Plan, and Fancy Feast at its new plant (Hartwell) and mainly serve the south-eastern pet food market.
Some of the key players in vegan dog food market are Mars Incorporated, Hill’s Pet Nutrition, Lafeber Co., Fromm Family Foods LLC., Dave’s Pet Food, Boulder Dog Food Company, L.L.C., Champion Petfoods, Nutro Products Inc., Evanger’s Dog & Dog Food Company, Inc.
Get Valuable Insights into Vegan Dog Food Market
Future Market Insights, in its new offering, provides an unbiased analysis of the Vegan Dog Food market, presenting historical demand data (2016-2020) and forecast statistics for the period from (2021-2031). The study divulges compelling insights on the vegan dog food market based on product type (kibble/dry, dehydrated food, treats and chews, freeze-dried raw, wet food, frozen, powder and freeze-dried food), nature (organic and conventional), by age group (adult, senior, puppy), by packaging (pouches, bags, folding cartons, tubs & cups, can, bottles & jars) (by distribution channel (direct sales/B2B, HoReCa, and indirect sales) across ten major regions North America, Latin America, Europe, APEJ, Japan, Oceania, and MEA.
Key Points Covered in Vegan Dog Food Market Survey
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Vegan Dog Food and How to Navigate
- Recommendation on Key Winning Strategies
For Complete TOC @ https://www.futuremarketinsights.com/toc/rep-gb-13685
Key Questions Answered in the Report
- What is the overall global Vegan Dog Food market value?
The global vegan dog food market is expected to surpass a valuation of US$ 10,560.40 Mn by 2021.
- What is the demand outlook for Vegan Dog Food market?
The vegan dog food market will register a steady rise in demand through 2021. As per FMI, the market is expected to register a CAGR of 6.9% in the forecast period.
- What are the key trends dominant in the Vegan Dog Food market?
The main determining variables are the growing vegan preferences in pet food and manufacturers’ focus on meeting regulatory criteria.
- What are the key factors propelling the sales of Vegan Dog Food?
Increasing health concerns among pet dogs have resulted in a demand for meat-free dog food, as dog owners have become more concerned about their dogs’ health and well-being, are significant reasons driving vegan dog food sales.
- What is the North America Vegan Dog Food market outlook?
North America is a major market for vegan dog food. It will register 4.8% CAGR through the end of 2031.
- What is the cumulative share of the top ten companies in the Vegan Dog Food market?
The top five companies operating in the Vegan dog food market are Nestlé Purina PetCare, Mars Incorporated, Hill’s Pet, Evanger’s Dog & Cat Food Company, Inc., and Rollover Premium Pet Food Ltd. These companies hold a market share of 30 to 40% of the global vegan dog food market.
- At what rate will the Vegan Dog Food market grow in Europe?
Future Market Insights has forecast the European vegan dog food market to exhibit a CAGR of 6.6% between 2021 and 2031.
- Which are the top 5 countries exhibiting high demand for Vegan Dog Food?
The U.S., Canada, U.K., Japan, Germany and France are among the leading markets for vegan dog food, exhibiting consistently high demand.
- What is the share of the Germany and China Vegan Dog Food markets?
As per Future Market Insights, Germany vegan dog food market accounts for 14.7% in Europe, while China accounts for 37.3% of the East Asia market.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
