The vegan dog food market is growing due to increased pet ownership and demand for healthy options, with a projected CAGR of 6.9% by 2031.
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.
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.
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Key Takeaways from the Vegan Dog Food Market Study
“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:
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
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Key Questions Answered in the Report
The global vegan dog food market is expected to surpass a valuation of US$ 10,560.40 Mn by 2021.
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.
The main determining variables are the growing vegan preferences in pet food and manufacturers’ focus on meeting regulatory criteria.
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.
North America is a major market for vegan dog food. It will register 4.8% CAGR through the end of 2031.
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.
Future Market Insights has forecast the European vegan dog food market to exhibit a CAGR of 6.6% between 2021 and 2031.
The U.S., Canada, U.K., Japan, Germany and France are among the leading markets for vegan dog food, exhibiting consistently high demand.
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.
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The article discusses the growth and trends in the vegan dog food market, driven by rising pet ownership and health-conscious consumers.
The vegan dog food market is expected to grow at a CAGR of 6.9% through 2031, reaching a valuation of over $12.22 billion.
Key players include Mars Incorporated, Hill’s Pet Nutrition, and Nestlé Purina PetCare, among others.
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