The value of the pet food market that relies on plants is projected to reach a staggering USD 47.7 billion by the year 2034.
The European Union's commitment to sustainability and animal welfare is driving a significant expansion in the plant-based pet food market. This shift is not limited to Europe, as the global market for plant-based pet food is experiencing rapid growth.
Mars, Inc., through its brand Lovebug, has entered the fray with a vegan cat food line, joining a growing list of companies catering to the increasing demand for plant-based pet nutrition. The dry food segment of the market holds over 46.30% of the market share, with supermarkets, hypermarkets, and pet specialty stores becoming trusted hubs for purchasing plant-based pet food.
Dogs hold a dominant market position, capturing more than 67.30% of the market share, but cats are not far behind. Benevo, a UK-based company, has launched a new line of vegan cat food, emphasizing complete nutrition for obligate carnivores. Meanwhile, Amì Pet Food, an Italian company, is expanding its product line to include more sustainable and organic plant-based pet food options.
The rising number of vegans in countries like the UK, Germany, and Sweden is boosting demand for plant-based pet foods in Europe. My Aistra, an Indian startup, has launched a plant-based pet food line targeting the growing demand for sustainable pet nutrition in India, focusing on using locally sourced ingredients.
The growth of store-based retailing is driven by consumers' preference for the hands-on shopping experience offered by physical stores. Households hold a dominant market position, securing an impressive 78.30% share, indicating a strong consumer base for plant-based pet food.
The Global Plant-based Pet Food Market is projected to expand from USD 22.5 billion in 2024 to USD 47.7 billion by 2034, growing at a CAGR of 7.8%. This growth is expected to be led by North America, which currently holds a substantial 43.20% market share and generates revenues close to USD 9.7 billion.
In the realm of general health and nutrition, plant-based pet food applications hold more than 54.20% of the market share, pointing towards the importance of these products in maintaining pet health. Dr. Goodpet, a U.S.-based company, has introduced a new range of plant-based supplements for pets, targeting digestive health and allergy relief.
While specific companies specializing in plant-based animal nutrition with an expansion towards more environmentally friendly and organic options could not be explicitly named in the search results provided, it is clear that the market is moving towards a more sustainable future for pet nutrition. The plant-based pet food market is no longer a niche market but a growing industry with a significant impact on the global pet food landscape.
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