Vegan Pet Food Market

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

Vegan pet food is produced using plant-based and natural ingredients without any animal-derived raw material by certifying no cruelty or exploitation of animals in any sorts. The key trends in the pet food market are influenced by human food trends such as veganism, clean labels, alternative proteins, and healthier ingredients.

Expansion of sales channel is the major factor expected to contribute to the vegan pet food market growth in the near future. Online retail platform is one of the fastest growing segment in the market. Presently, many retail players manage their own web-based retail stores where customers learn more about the organization and its products. The availability of multiple options of product and their price comparison on online platforms also result in the increase in online shopping. This is beneficial to key players of the market as it eliminates the need for physical outlets or stores and also helps customers to read reviews provided by other users, and compare various stores, products as well as the price by different sellers for the particular vegan pet food. Furthermore, as per the World Bank data, of the year 2019, North America was the leader with approximately 88.4% of the population of internet users, followed by Europe and Central Asia, accounting for around 83.9% of internet users. Some of the popular online retailers in the vegan pet food market are Amazon.com, and Flipkart.com. Besides sales channel, the product availability is rising even in convenient stores and local shops in small regions, which augments the market growth.

Segment Review

The vegan pet food market is segmented into form, pet type, pet food type, distribution channel, and region. On the basis of form, the market is bifurcated into organic and conventional form. On the basis of pet type, the market is subdivided into dog food, cat food, and others. On the basis of pet food type, the market is categorized into dry pet food, wet pet food, treats & snacks, and others. On the basis of distribution channel, the market is classified into hypermarket/supermarket, specialty stores, online sales channels, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, India, Japan, New Zealand, Australia, Singapore, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, MENA, and rest of LAMEA).

On the basis of form, the conventional segment is the dominating segment for the year 2020, owing to high consumption of conventional vegan pet food among pets globally, which propels the demand for conventional vegan pet food in the market.

By pet type, the other pets segment is the fastest growing, owing to the surge in adoption of various animals other than dogs and cats, which is expected to lead to the rise in demand for other pet food in the market during the forecast period. However, the dog food segment is anticipated to remain the largest dominating segment of the market, owing to high dog adoption ratio globally, which leads to high demand for vegan pet food among dog owners.

By pet food type, dry pet food is the dominating segment and is also the fastest growing segment owing to the growth in demand for vegan dry food for pets among the pet owners. Furthermore, the dry pet food segment is highly in demand owing to its ease in consumption.

By distribution channel, the online sales channel is the fastest growing segment, owing to the growth of internet penetration and smart phones globally, which propels the demand for vegan pet food. However, the specialty stores segment is expected to remain the largest dominating segment of the market owing to high consumption of vegan pet food.

The players operating in the global vegan pet food market adopt various developmental strategies to increase their market share, gain profitability, and remain competitive in the market. Key players operating in the market include, Benevo, Evolution Diet, Freshpet, Hill’s Pet Nutrition, Mars, Incorporated, Nestle Purina, Supreme Petfoods, THE PACK, V-dog, and Wild Harvest.

COVID-19 Impact Analysis

• The COVID-19 pandemic positively impacts the global vegan pet food market.
• There was a rise in demand for vegan pet food among the pet owners during the pandemic as people stayed home, owing to which the pet adoption rate increased, which further increased the demand for pet food.
• Owing to strict lockdown policies, various sales channels such as hypermarkets/supermarkets and specialty stores were shut down, which led to a small drop in availability of vegan pets’ food. However, various key players shift towards online sales channel and key players work towards the increase in the volume production of pet’s food.

Key Benefits For Stakeholders

• The report provides a quantitative analysis of the vegan pet food market trends, estimations, and dynamics of the vegan pet food market size from 2020 to 2030 to identify the prevailing opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth vegan pet food market analysis and the market size and segmentation assist to determine the prevailing vegan pet food market opportunities.
• The major countries in each region are mapped according to their revenue contribution to the market.
• The market player positioning analysis facilitates benchmarking and provides a clear understanding of the present position of the market players in the vegan pet food industry.

 Vegan Pet Food Market Report Highlights