The market for plant-based pet food market is predicted to grow gradually, with a total value of US$ 23.82 billion in 2021. Plant-based pet food sales are predicted to grow at a 9.2% CAGR between 2021 and 2031, according to Future Market Insights (FMI). For the assessment period, the market’s overall growth prediction will stay positive. There are no animal-derived raw materials in plant-based pet food, ensuring that no animals have been harmed or abused in any way. The vegan movement, pet humanization, and an increasing number of vegan pet owners who prefer a plant-based diet for their pets are all contributing to the plant-based pet food industry.
Plant-based pet food sales will account for 23.8 percent of total pet food sales in 2021, according to the aforementioned considerations. The concept of humanizing pets has recently acquired traction in the mainstream media around the world. The transition from pet ownership to pet parenting has been a crucial and defining development in the plant-based pet food sector, particularly in developed countries.
Competitive Landscape
Cannapple, Nature’s Recipe, Nature’s Diet, Wysong, Benevo, Evanger’s Dog & Cat Food, My Astra, Evolution Diet, Eco Dog and Cats, Dr.good pet, and others are some of the prominent firms in the plant-based pet food market. To attract a large customer base, plant-based pet food manufacturers seek to provide natural and healthful products to market.
Key Takeaways from the Plant-Based Pet Food Market Study:
- In 2021, North America will account for 36.1 percent of the global market for plant-based pet food. North America’s growth is predicted to be led by the United States.
- Kibbles come in a variety of sizes and shapes and are projected to be the most popular type of plant-based pet food for the foreseeable future. In 2021, kibbles will account for 23.5 percent of the global market, having been dried, chilled, and covered with a protective coating.
- During the projected period, demand for plant-based pet food for adult cats would expand at a CAGR of 6.3 percent (2021-2031).
- In 2021, store-based retailing held 86.4 percent of the market share, and it is expected to continue to increase at a stable rate throughout the forecast period.
- Bags accounted for 35.8% of all plant-based pet food sold globally.
