According to a report by Data Bridge Market Researchthe worldwide vegan pet food market will see speedy progress within the coming years, with its worth growing from $12.27 billion in 2021 to $31.48 billion by 2029. This represents a CAGR of 12.5%.
The market will likely be pushed by the elevated “humanization” of pets, the place folks see pets as a part of their household and demand high-quality, nutritious, and digestible meals. Additionally, as extra shoppers undertake vegan diets with the idea that they’re more healthy and extra sustainable, many need to feed their pets a plant-based food regimen too.
Rise in pet possession
Worldwide, having a pet is turning into more and more well-liked, pushed by rising incomes and the influence of the pandemic. This is growing the demand for pet food, together with vegan varieties. As the market grows, firms are increasing their product ranges, which is growing gross sales and additional boosting market progress.
However, the vegan pet food market may endure some restraints, comparable to restricted availability of components, non-uniformity in worldwide commerce rules, and the availability of counterfeit merchandise.
By area, South America is predicted to see a number of the most important progress, significantly Brazil and Argentina. This is because of an increase in pet possession, traits in the direction of pet humanization, and elevated growth within the area. The vegan pet food market within the Asia Pacific will even develop quickly, with a specific deal with premium high quality merchandise. Another report from earlier this yr discovered that the Indian market would see “remarkable growth” of 30.8% from 2023 to 2033.
Healthy and sustainable
Research more and more demonstrates {that a} plant-based food regimen might be useful for dogs, that are omnivorous. A recent research examined the consequences of meat-based versus vegan canine meals over a three-month interval, discovering equally good well being outcomes in each.
Plant-based diets are additionally much more sustainable; one other research discovered that if all dogs worldwide have been fed an animal-free food regimen, an space of land bigger than Mexico might be saved.
“This study shows environmental benefits when vegan diets are used to feed not just people, but dogs and cats as well. However, to safeguard health, it’s important that people feed only vegan pet food labeled as nutritionally complete, produced by reputable companies with good standards,” stated Andrew Knight of Australia’s Griffith University, the writer of the research.
