Vegan Pet Food Market Growth and Analysis by 2028
Historic Data: 2018-2019 | Base Year: 2020 | Forecast Period: 2021-2028Vegan Pet Food Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Dry Food, Wet Food, Others), Pet Type (Dogs, Cats), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, Others)
- Report Date : May 2021
- Report Code : TIPRE00022433
- Category : Food and Beverages
- Status : Published
- Available Report Formats :
- No. of Pages : 142
The vegan pet food market was valued at US$ 8,667.97 million in 2020, it is expected to grow at a CAGR of 7.7% from 2021 to 2028.
Vegan pet food is produced with plant-based and natural ingredients without having a trace of animal derived raw material and ensuring no cruelty or exploitation of animals in any sorts. The factors such as the trend of veganism, humanization of pets, and increasing number of pet owners propel the growth of the vegan pet food market. However, nutrient deficiency related to vegan pet food hinders the market growth.
Asia-Pacific is anticipated to be the fastest-growing market for vegan pet foods in the coming years. With the economic growth and rise in disposable income of people, lifestyle and consumption pattern of food are changing in countries such as India, China, and Japan. People in the region tend to prefer vegan diet due to some holistic beliefs, to protect the environment, and to focus on weight management. Vegan pet owners are offering vegan pet food to their pets since it is healthy and easy to digest, which is further influencing the growth of the vegan pet food market in Asia-Pacific. Also, the vegan pet food industry in the region is witnessing the entrance of new manufacturers with innovative products.
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Vegan Pet Food Market: Strategic Insights
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Vegan Pet Food Market: Strategic Insights
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Impact of COVID-19 Pandemic on Vegan Pet Food Market
The COVID-19 outbreak is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The food & beverage industry is among the significant industries suffering from severe disruptions, such as restrictions on supply chain and shutdown of production plants. The shutdown of various plants and factories is hindering the global supply chains and negatively impacting the manufacturing activities, delivery schedules, and various goods sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hampering the business collaboration and partnership opportunities. The disturbed value chain during the initial days of the pandemic has had a negative impact on raw material supply and further impacting the vegan pet food market. However, as the economies are planning to revive their operations, the demand for vegan pet food is rising. In addition, most people are now working from home, and this change in lifestyle has further inspired families to welcome new pets to their families. So, the negative impact of COVID-19 pandemic has not been significant in the vegan pet food market. Instead, vegan pet food manufacturers witnessed a significant rise in the sale of their products through online retail.
Market Insights
Humanization of Pets
People value their pets and are also ready to spend significant money on keeping them healthy. The pet owners who are vegan prefer to feed vegan food to their pets. Most of the pet owners always opt for products that have clean labels, sustainability claims, and functional nutrition. Majority of the global population consider their pet as a family member. In addition, some of the families own more than just one dog, making them an integral part of the household. Moreover, the number of pet-friendly workplaces are increasing at a significant rate. Thus, growing humanization of pets increases the awareness regarding the quality and ingredients of the pet food provided by the owners, which propels the demand for the vegan pet food market.
Product Type Insights
Based on product type, the vegan pet food market is segmented into dry food, wet food, and others. The dry food segment led the market in 2020. Dry foods are low in moisture content and are available in various forms such as pellets, kibbles, flaked cereals, and others. Vegan dry pet food items contain plant-based ingredients such as corn, rice, soybean, oats, chickpea, sunflower seed meals, pea protein, hydrolysed vegetable meal, and flaxseed meal. Dry pet foods ensure the teeth health of dogs and cats by reducing the plaque build-up. Owing to its low moisture content, dry food can be stored without refrigeration unlike canned foods, which are prone to decay.
Pet Type Insights
Based on pet type, the vegan pet food market is bifurcated into dogs and cats. The dogs segment led the market in 2020. Dogs are the most popular and beloved pets among the pet owners worldwide. Dogs can be fed with vegan diet as vegan food is clean, light, and highly nutritious. This type of food helps in managing the weight of dogs and improving their energy levels. Moreover, it is easily digestible that improves the gut health of dogs and helps in overcoming the problems of constipation and loose stools.
Distribution Channel Insights
Based on distribution channel, the global vegan pet food market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The supermarkets and hypermarkets segment led the market in 2020. For vegan pet foods, supermarkets and hypermarkets are one of the most preferred distribution channels owing to the factors such as an availability of wide range of products with popular brands under one roof, convenience of selecting the products, and discounts and attractive deals.
A few players operating in the vegan pet 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. The companies in the market are continuously looking forward to expand and diversify their market presence along with acquisition of new customer base and tapping prevailing business opportunities.
Report Spotlights
- Progressive industry trends in the vegan pet food market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the vegan pet food market from 2019 to 2028
- Estimation of global demand for vegan pet food
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook as well as factors driving and restraining the growth of the vegan pet food market
- Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The size of the vegan pet food market size at various nodes
- Detailed overview and segmentation of the market, as well as the vegan pet food industry dynamics
- Size of the vegan pet food market in various regions with promising growth opportunities
Vegan Pet Food Market Regional Insights
The regional trends and factors influencing the Vegan Pet Food Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Vegan Pet Food Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
- Get the Regional Specific Data for Vegan Pet Food Market
Vegan Pet Food Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 8.67 Billion |
| Market Size by 2028 | US$ 15.65 Billion |
| Global CAGR (2020 - 2028) | 7.7% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Vegan Pet Food Market Players Density: Understanding Its Impact on Business Dynamics
The Vegan Pet Food Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Vegan Pet Food Market are:
- Antos B.V.
- Benevo
- Bond Pet Foods, Inc.
- V-dog
- Soopa Pets
Disclaimer: The companies listed above are not ranked in any particular order.
- Get the Vegan Pet Food Market top key players overview
Vegan Pet Food Market – by Product Type
- Dry Food
- Wet Food
- Others
Vegan Pet Food Market – by Pet Type
- Dogs
- Cats
Vegan Pet Food Market – by Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Retail
- Others
Company Profiles
- Antos B.V.
- Benevo
- Bond Pet Foods, Inc.
- V-dog
- Soopa Pets
- Vegan4dogs
- Wild Earth
- Yarrah
- Isoropimene Zootrofe Georgios Tsappis Ltd.
- Halo Pets
Frequently Asked Questions
Based on product type, which segment is leading the global vegan pet food market during the forecast period?
Among the three segments of product type, dry food segment has led the market in 2020. Dry foods are low in moisture content and are available in various forms such as pellets, kibbles, flaked cereals, and others. Vegan dry pet foods contain plant-based ingredients such as corn, rice, soybean, oats, chickpea, sunflower seed meals, pea protein, hydrolysed vegetable meal, flaxseed meal, etc. Dry pet foods ensure the teeth health of dogs and cats by reducing the plaque build-up. Owing to its low moisture content, dry food can be stored without refrigeration unlike canned foods which are prone to decay. Thus, the adoption of dry vegan pet food is comparatively higher which in turn is boosting the growth of the segment.
Can you list some of the major players operating in the global vegan pet food market?
The major players operating in the global vegan pet 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 amongst many others.
Which region held the largest share of the global vegan pet food market?
In 2020, the vegan pet food market was predominant by Europe at the global level. Easy availability and accessibility to vegan pet food coupled with increase in disposable income has led to an increase in demand for premium pet food products, driving the growth of the European vegan pet food market. According to the European Pet Food Industry in 2020, approximately 85 million households that have at least one pet animal as well as 25% of the households have cat as a pet animal and 24% of the households have dog as a pet. Thus, the factors such as increasing pet ownership, increase in spending on premium pet food products, more awareness about vegan food etc. are providing growth opportunities for the vegan pet food market in coming years.
Market Research & Consulting
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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The List of Companies - Global Vegan Pet Foods Market
- Antos B.V.
- Benevo
- Bond Pet Foods, Inc.
- V-dog
- Soopa Pets
- Vegan4dogs
- Wild Earth
- YARRAH
- Isoropimene Zootrofe Georgios Tsappis Ltd.
- Halo Pets
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