Pet treats market seen reaching $29.7B by 2031

The global pet treats market is projected to grow from $20.1 billion in 2021 to $29.7 billion by 2031, driven by pet ownership, organic products and online sales. North America held about one-third of the market in 2021 and is expected to remain the leader while posting the fastest regional growth.

Why it matters: - The pet treats market is growing as pet owners spend more on food, health and specialty products. - The shift toward organic and vegan pet treats points to broader changes in consumer preferences and pet nutrition. - Growth in online retail is expanding access and could keep demand rising through 2031.

What happened: - The global pet treats market generated $20.1 billion in 2021. - The market is projected to reach $29.7 billion by 2031. - The forecast implies a 4.2% compound annual growth rate from 2022 to 2031. - The report covers pet type, form, sales channel and region. - Pet types include dog, cat and others. - Forms include organic and conventional. - Sales channels include online and offline. - The report was issued July 7, 2026 and focuses on market trends through 2031.

The details: - Product innovation remains a key growth strategy in pet treats. - Advertising influence is also driving the market. - Rising demand for proper pet food is supporting sales. - Organic pet treats are becoming more popular. - Online retail platform growth is widening distribution. - Pet adoption is increasing in many markets around the world. - Government agencies classified pet treat manufacturing as an essential operation during the pandemic, which helped the market keep growing steadily. - The report points to a consumer shift toward veganism. - More than 6% of the U.S. population identified as vegan in 2020, up from 1% in 2014. - More than 500,000 people joined Veganuary’s challenge in 2021, up 25% from 400,000 in 2020. - Pet owners are increasingly choosing vegan pet food to avoid skin allergies and other health issues in pets. - The report says those trends are lifting demand for vegan pet treats. - The report names Captain Zack, Pet Munchies, Arden Grange Pet Foods, Royal Canin, The Pet Beastro, Mars Petcare, The Hartz Mountain Corporation, Nestle, Canine India, Hill's Pet Nutrition, The Pack, V-Dog and Wild Harvest as key players. - These companies have used joint ventures, collaborations, expansion, new product launches and partnerships to strengthen their positions. - The report also reviews product portfolios, business performance and operating segments.

Between the lines: - The market's growth case is increasingly tied to premiumization, with organic and vegan offerings gaining traction alongside conventional treats. - Pet adoption remains a structural growth driver, but adoption barriers could limit category expansion in some markets. - The Australian Veterinary Association Ltd. found that more than half of Australians dream of owning a new dog, yet only 13% said they intend to buy a pet within a year. - Barriers include ownership responsibility, unsuitable housing, lifestyle constraints and household members who are uncomfortable with pets. - Restrictions on pets in places such as restaurants, malls and hotels also weigh on adoption. - North America held around one-third of the global market in 2021 and is expected to keep its lead through the forecast period. - North America is also projected to post the fastest regional CAGR at 5.1%.

What's next: - Demand is expected to keep rising as online shopping, pet health awareness and organic product adoption expand. - Market competition is likely to stay focused on launches, partnerships and distribution expansion. - Regional growth will depend on how quickly pet ownership and premium treat adoption spread beyond North America.

The bottom line: - Pet treats are moving from a basic pet-care category to a growth market shaped by health, convenience and changing consumer diets.