Rising Number of Pet Owners to Drive Market Growth
According to our latest market study on “Vegan Dog Food Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Dry Food, Wet Food, Treats, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others),” the market was valued at US$ 6,386.83 million in 2021 and is projected to reach US$ 10,839.65 million by 2028; it is expected to grow at a CAGR of 7.8% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players, along with their developments, in the market.
Vegan dog food is made with 100% plant-based ingredients and does not contain animal components or byproducts. Human food trends such as clean labeling, veganism, alternative proteins, and healthy ingredients influence pet food trends. Vegan pet owners prefer to feed vegan food to their pets, which fuels the growth of the vegan dog food market. Moreover, the rising adoption of dogs and puppies and the surging rate of pet ownership are a few of the key factors driving the market growth.
The pet population is growing at the same rate as the human population. Dogs are one of the most popular pets across the world. According to a recent survey conducted by the America Pet Products Association, pet ownership in the US is rising, particularly dog ownership. According to the survey, 67% of households in the country have a pet. To put that in context, about 85 million families in the US own a pet. In addition, according to American Pet Products Associations, in 2020, Americans spent a record-breaking US$ 99 billion on pet-related products, ranging from pet food to veterinary care. Furthermore, according to Petsecure.com, Americans spend more than US$ 50 billion on their dogs each year. Also, Norwegians are concerned about the diet of their pets and spend around US$ 629 million on it. The number of pets in Asian countries has also increased significantly. According to PetSecure.com, Argentina has the highest pet ownership percentage in South America, with 80% of those surveyed claiming themselves to be pet owners. Brazil is in second place, with 75% of people owning a pet. The rising number of pets, especially dogs, is driving pet food manufacturers to increase production.
Additionally, with the growing trend of veganism in North America, South America, Europe, and various Asian and African countries, pet owners choose plant-based pet food products. Due to the nutritional advantages of plant protein, the owners, especially dog owners, prefer a vegan diet for their dogs. All of these factors drive the growth of the global vegan dog food market.
A few well-established players operating in the global vegan dog food market are Antos B.V.; Benevo; Bond Pet Foods, Inc.; V-dog; Soopa Pets; Vegan4dogs; Wild Earth; Yarrah; Isoropimene Zootrofe Georgios Tsappis Ltd.; and Halo Pets.
Impact of COVID-19 Pandemic on Vegan Dog Food Market
The COVID-19 pandemic posed unprecedented challenges to several industries, such as the food & beverage industry. During the early months of the pandemic, the food processing industry faced raw material shortage and distribution problems due to nationwide lockdown, manufacturing plants shutdown, and border restrictions under COVID-19 safety protocols. Small enterprises struggled to operate and sell their products because of the implementation of the COVID-19 safety regulations. Due to the nationwide lockdown and border restrictions, supply chains were entirely disrupted, significantly impacting the sales of various food and beverage goods. However, it was observed that many pet owners spent a significant amount of money on their pets' health and nutrition. During lockdowns, people spent more time alone at home, which led to an upsurge in animal adoption. This factor has dramatically increased the demand for pet care items, such as pet food, positively impacting the global vegan dog food market. However, due to the shortage of raw materials and labor, there was a demand and supply gap, which hindered the sales and availability of products. Moreover, many distribution centers such as supermarkets and hypermarkets remained close due to lockdowns, which hampered product availability.
Businesses are gaining ground as previously imposed limitations are being eased across various locations. Moreover, the introduction of COVID-19 vaccines by governments of different countries has eased the situation leading to a rise in business activities across the world. Due to rising vaccination rates globally, the global marketplace has started recovering from the losses, which is expected to fuel the growth of the vegan dog food market. Moreover, e-commerce platforms played a significant role in reviving product sales because of their extensive logistics and distribution capabilities. The online retail platforms made the product available at the doorsteps of the consumers. These factors are projected to create lucrative opportunities for the market in the coming years.
Global Vegan Dog Food Market – by Region, 2020
Vegan Dog Food Market 2028 - Industry Report
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Vegan Dog Food Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Dry Food, Wet Food, Treats, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
Vegan Dog Food Market 2028 - Industry Report
Download Free SampleVegan Dog Food Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Dry Food, Wet Food, Treats, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)