Plant-based Pet Food Market Value to Grow by Almost USD

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NEWARK, Del: , Sept. 20, 2022 (GLOBE NEWSWIRE) — The plant-based pet grocery store is more likely to expand at a promising CAGR of 9.2% and is forecasted to succeed in a valuation of USD 57.43 Bn by 2032, while it holds a revenue of USD 26.01 Bn in 2022. The plant-based pet grocery store is fueled by the vegan movement, the humanization of pets, and the growing variety of vegan pet owners selecting a plant-based weight loss plan for his or her pets. These are the explanations contributing to the expansion of the plant-based pet food business. 

The evaluation at FMI explains that the demand for plant-based pet food has increased at the next growth rate than traditional pet food. Vegan formulas are designed by certified nutritionists in accordance with the identical standards as meat-based formulas are wooing pet parents. Rising awareness around vegan consumables coupled with increased adoption of pets fuels the sales of plant-based pet food, bringing innovation for plant-based food items. 

The industry is growing because pet owners are prepared to spend more cash on high-quality premium plant-based pet food and goods to enhance their pets’ health and quality of life. Packaging claims and labels may help construct brand equity and confidence by telling customers about ingredient sources, unique processing techniques, functionality, and certifications.

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Key Takeaways from Market Study 

  • North America will proceed to dominate the worldwide plant-based pet grocery store share.  Where U.S. market forplant-based pet food market is predicted to be valued at US$ 63 Bn in 2022. 
  • India plant-based pet grocery store is predicted to be account for over 38%of the South Asia market in 2022 
  • In the character type category, conventional pet food holds the most important share of 5%in 2022 while the organic segment will hold 23.4% in 2022. The demand for plant-based pet food is attributed to rising sales of vegan pet food and increasing emphasis on nutrition profile of pet food items 
  • Within the pet type category, Senior cats hold a market share of 1%among the many cats’ segment in the worldwide plant-based pet food business in 2022.  

 “The longer term of the market goes to be fruitful attributable to the brand new cultivation methods of plant-based food. The pet food industry is working on nutrients for cats and dogs, healthy and glossy coats, body weight balancing, and reducing bad breath. Vegetarian and plant-based diets have recently been introduced to the pet grocery store, offering a possible solution to the moral dilemma faced by vegetarians and vegans who live with omnivores and carnivorous dogs.

Increasing demand for organic and high-quality ingredients has fueled the sales of plant-based pet foods. Consumption of plant-based pet food is believed to attenuate allergies, skin concerns, improve bad breath, and maintain weight in pets. This enhances the demand of plant-based pet foods in multiple regions.”  says a Future Market Insights analyst while discussing the long run of the market. 

Competitive Landscape: 

The plant-based pet grocery store holds the potential of getting multiple brands at its bay. These players have been using various tactics to amass an even bigger share of the market lately. Recent progressive players have the advantage of launching flavor and complement types to boost the market space.

A few of the leading plant-based pet food manufacturers are improving their web presence and investing in research and development initiatives. To expand their product options, multinational plant-based pet food firms are focusing their efforts on expanding their manufacturing facilities to boost productivity.

Recent Market Development   

  • Aistra in 2020 recently launched its plant-based pet food store in India, after noticing a necessity for healthy plant-based pet food within the Indian market.
  • Global Food and Ingredients Inc. has announced to amass a cutting-edge plant-based pet food ingredients manufacturing facility in Bowden, Alberta in addition to the launch of GFI’s recent plant-Based Pet Food Ingredients business unit.

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Key Segments

By Nature:

By Product Type:

  • Kibble/Dry
  • Dehydrated Food
  • Treats and Chews
  • Freeze-Dried Raw
  • Wet Food
  • Frozen

By Pet Type:

  • Cat
  • Dog
  • Birds
  • Others (Rabbits, Hamsters, etc.)

By Distribution Channel:

  • Store-based Retailing
  • Online Retailers

By Packaging Type:

  • Pouches
  • Bags
  • Folding cartons
  • Tubs & Cups
  • Can
  • Bottles & jars

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Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Evaluation

    1.5. Evaluation and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

    3.2. Scenario Forecast

    3.3. Opportunity Map Evaluation

    3.4. Product Life Cycle Evaluation

    3.5. Supply Chain Evaluation

TOC continued..!

About Food & Beverage Division at Future Market Insights 

The Food & Beverage team at Future Market Insights provides all of the mandatory insights and consulting evaluation to fulfil the unique business intelligence needs of clients worldwide. With a listing of greater than 500 reports in regards to the latest statistics and evaluation from the food & beverage industry, the team is blissful to assist with every business intelligence research and consulting requirement. 

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About Future Market Insights, Inc.

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