According to a recent study conducted by the market research organization Future Market Insights (FMI), the market for dog treats, chews, and toppers in the United States is set to experience a compound annual growth rate (CAGR) of 4.9 percent in ten years’ time. This, in turn, can bring up its valuation from the current rate of USD 2.9 billion to USD 4.8 billion by 2033.
There are several factors that play a role in spurring the significant growth of the dog treat and chews market. In a report published by Yahoo! Finance, one of these is the changing perspectives that pet owners hold when it comes to pet health and welfare. Many pet owners are willing to spend on premium dog treats, chews, and toppers to gain advantages such as better joint care and dental support for their canine companions. In addition, they’re also keen on using quality treats and chews to reward pets for good behavior, cater to taste preferences, and avoid components that can trigger sensitivities.
To maximize the opportunities that the market presents, many dog food brands and manufacturers are rapidly expanding their offerings through ongoing innovation and product differentiation.
Supplying Dogs with Better Treats, Chews, and Toppers
It’s not just dog food and treat manufacturers who can benefit from the expected growth of the dog treats and chews market. Businesses that cater to pet owners, such as pet product stores, pet grooming salons, and dog daycares and walkers can also get a share of the pie by adding a wide selection of quality chews, treats, and toppers to their pet merchandise inventory. On top of selling custom dog toys and leashes, for instance, pet product stores can also start expanding their selection of custom dog treats.
Even businesses that are not directly in the pet industry can benefit from the increasing demand for quality pet treats. Pet-friendly hotels and resorts, for example, can offer treats and toppers to guests who are staying with their pets. This, in turn, can help them build a good relationship with the pet owners among their loyal clients and first-time visitors.
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