Vegan Dog Food Market Forecast and CAGR
According to latest research by Fact.MR, vegan dog food market is set to witness steady growth during 2021-2031. Demand for vegan dog diet will witness steady recovery in short-term, with optimistic growth outlook in the long-run.
The new trend of keeping pet dogs is about to play a major role in helping the overall demand by increasing pet adoption rates. In addition, as pet owners become more concerned about a healthy diet as a result of increased awareness about pet health, the demand is expected to expand in the coming years.
What is Driving Demand in Vegan Dog Food Market?
The pet dog population has been increasing globally owing to higher adoption of pets owing to increasing disposable income and pet trends. Being a pet dog owner comes with the responsibility of providing high nutritious and well-balanced food to its pet. This has raised a growing concern of dog owners pertaining to provide a healthy and balanced diet to their beloved pet has been a prime reason for growing vegan dog food demand.
Owing to such reasons, manufacturers are continuing to generate profits by introducing products in newer types such as chews, wet food, dry food etc., which could ease the process for the owners in providing a balanced diet to their pet dogs.
All in all, the global vegan dog diet sales is expected to grow at a higher rate, wet food and chews segment is expected to account for a larger market share, directly affecting the overall sales.
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Myriad Benefits of Vegan Dog Food to Bolster Market Growth
Vegan dog foods have myriad benefits over meat-based food. The majority of the veterinary clinics have reported food allergy in dogs caused due to consumption of meat-based products such as chicken, beef, egg etc. Such allergies have been a major cause for rashes, loose stool and other medical issues.
Switching to vegan food have shown a reduction in such health problems in dogs. Feeding a vegan-based diet to the dogs will reduce allergies, help relieve joint pain and arthritis, improves energy levels, balances weight and also is easily digestible for the dogs. With all such positive points in hand well aware dog owners are switching to vegan-based dog food as a result of which the demand for vegan dog food is significantly increasing.
US Vegan Dog Food Market Outlook
Dog ownership can be interpreted as a financial metric. When people's incomes grow, some can afford to get pets for the first time, while others opt to spend more on new toys, grooming appointments etc. On a macro level, as countries expand, new industries centered on dog doting and pampering emerge, such as dog shows and puppy hotels.
Unsurprisingly, the United States continues to be the world's most dog-loving country, with the world's largest pet dog population in both actual and per capita terms.
People in the US spend about a similar amount on their pet’s health as that of a kid in their family. Dog owners are getting aware of the benefits of switching to vegan food through veterinary clinics, the internet and pet enthusiasts, which has become one of the main reason for the increasing demand for vegan dog food in this country. As a whole contributing to the overall growth vegan dog food sales.
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Asia Demand Outlook for Vegan Dog Food Market
Asia market holds a significant share in the global vegan dog food market. This is due to the fact that the number of pet owners in this region is at a higher number compared to other regions. On a broader scale, China and the ASEAN region have are the ones contributing towards such an increased population of dogs in this region.
Statistically, China has a population of about 27.4 Bn pet dogs. On the other hand, ASEAN countries Indonesia, Philippines, Taiwan and Thailand have a rate of pet ownership of about 66%, 82%, 73% and 52% respectively. All these stats prove that the pet dog population in Asia is increasing which is anticipated to bolster the demand for the vegan dog diet.
Such a rise in dog population and pet owners' concerns about their dogs' health has led to a surge in demand for vegan dog food, which is directly impacting the demand in Asia. Furthermore, practicing activities such as organizing awareness campaign on vegan dog food through both online (social media etc.) and offline medium would help in increasing the adoption rate of such products and would attract newer customers in the market. All in all, contributing towards growing vegan dog food sales.
Who are the Key Manufacturers and Suppliers of Vegan Dog Food?
The global vegan dog food supply is fragmented in nature with presence of a lot many players around the globe. Some of the leading manufacturers and suppliers of Vegan Dog Food include
- Halo Pets
- Augustine Approved
- PETGUARD HOLDINGS LLC
- 4Legs Pet Food Company
- Isoropimene Zootrofe Georgios Tsappis Ltd.
- Natural Balance Pet Foods, Inc.
- Vegan Pet Food
- Bond Pet Foods Inc.
- Soopa Pets.
- Compassion Circle Inc.
- Yarrah Organic Petfood B.V.
- other prominent players.
The majority of producers and suppliers have a globally diversified supply chain network, allowing them to meet the increasing demand for vegan dog food. Furthermore, the manufacturers have maintained a diverse product range from which they are able to easily attract new customers.
Owing to COVID-19 pandemic, online purchases has been increasing, with dog owners ordering vegan dog food and other related edibles in bulk. As a result, key players involved in delivering them through the online mode have benefited from lucrative business opportunities during the current pandemic.
An Adaptive Approach to Modern-day Research Needs
Vegan Dog Food Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
- Dry Food
- Wet Food
- Leafy Vegetables
By Distribution Channel
- Online Retailing
- Veterinary Clinics
- Pet Food Stores
- Modern Trade
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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