Vegan Pet Food Market to Reach $16.3 Billion, Globally and by 2030, At 5.5% CAGR – Report by Allied Market Research


Vegan Pet Food Market

The vegan pet grocery store is segmented into form, pet type, pet food type, distribution channel, and region.

The rise in innovation within the product line of vegan pet food stays the important thing strategy and the rise in influence of commercial are a few of the foremost aspects, which drive the expansion of the market”

— Shankar Bhandalkar

PORTLAND, OREGON, UNITED STATES, July 27, 2022 / — Based on a recent report published by Allied Market Research, titled, “Vegan Pet Food Market by Form, Pet Type, Pet Food Type, and Distribution Channel: Global Opportunity Evaluation and Industry Forecast, 2021–2030,”. The report offers an in depth evaluation of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces evaluation, and competitive landscape.

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The vegan pet grocery store was valued at $9.6 billion in 2020 and is estimated to achieve $16.3 billion by 2030, registering a CAGR of 5.5% from 2021 to 2030.

Owing to the expansion in health awareness regarding pets and various food allergies, pets owners now shift towards vegan pet food with the intention to avoid any skin allergy or health issue amongst their pets. Due to this fact, the rise in trend towards veganism coupled with pets’ health awaness and advantages of vegan pet food propel the demand for vegan pet food amongst pet owners.

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Nonetheless, the market faces stiff challenge as per the Australian Veterinary Association Ltd. The study found that majority of the Australian population, which is greater than half dreams to own a recent dog. Nonetheless, only 13% of the respondents confirmed that they intend to purchase a pet inside a 12 months. There are multiple reasons liable for resistance in pet or dog adoption, equivalent to, responsibility of pet ownership, having an inappropriate home that are unsuitable for the dog or unsuitable lifestyle, and the proven fact that other members of the household usually are not comfortable living with pets.

Furthermore, various public places equivalent to restaurants, malls, and hotels restrict the entry of pets including dogs. These aspects collectively restrict pet adoption, which in the method restraints the expansion of the vegan pet grocery store.

The vegan pet grocery store is segmented into form, pet type, pet food type, distribution channel, and region. On the premise of form, the market is bifurcated into organic and traditional segment. Based on pet type, the market is subdivided into pet food, cat food, and others. On the premise of pet food type, the market is categorized into dry pet food, wet pet food, treats & snacks, and others. On the premise of distribution channel, the market is classed into hypermarket/supermarket, specialty stores, online sales channels, and others.

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Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and remainder of Europe), Asia-Pacific (China, India, Japan, Recent Zealand, Australia, Singapore, South Korea and remainder of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, MENA, and remainder of LAMEA).

The important thing players operating within the Vegan Pet Food Industry include:

○ Benevo
○ Evolution Eating regimen
○ Freshpet
○ Hill’s Pet Nutrition
○ Mars
○ Incorporated
○ Nestle Purina
○ Supreme Petfoods
○ V-dog
○ Wild Harvest.

Key Findings of Report

○ By form, the standard segment is predicted to stay the dominant segment within the 12 months 2020, and is predicted to realize market share in the approaching years.
○ By pet type, the others pet food segment is anticipated to be the fastest growing segment throughout the forecast period.
○ By pet food type, dry pet food was the dominating segment in 2020 and is anticipated to be the fastest growing segment throughout the forecast period.
○ By distribution channel, online sales channel is anticipated to be the fastest growing vegan pet grocery store segment throughout the forecast period.
○ By region, North America dominated when it comes to the market share in 2020, and is predicted to retain its dominance throughout the forecast period.

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Related Reports:

○ Pet Toys Market Growing Rapidly with Significant CAGR From 2020-2027
○ Online Pet Food Supplies Market Growth Opportunities In Global Industry

David Correa
Allied Analytics LLP
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July 27, 2022, 14:19 GMT

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