Vegan Dog Food Market worth $ 10,839.65 million by 2028 - Exclusive Research by The Insight Partners

Rising adoption of dogs and puppies and the surging rate of pet ownership are a few of the key factors driving the market growth (at a CAGR of 7.8%)

NEW YORK, UNITED STATES, January 24, 2022 /EINPresswire.com/ -- According to our latest market study on “Vegan Dog Food Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Dry Food, Wet Food, Treats, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others),” the market was valued at US$ 6,386.83 million in 2021 and is projected to reach US$ 10,839.65 million by 2028; it is expected to grow at a CAGR of 7.8% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players, along with their developments, in the market.

Report Coverage Details
Market Size Value in- US$ 6,386.83 million in 2021
Market Size Value by- US$ 10,839.65 million by 2028
Growth rate- CAGR of 7.8% from 2021 to 2028
Forecast Period- 2021-2028
Base Year- 2021
No. of Pages- 140
No. Tables- 56
No. of Charts & Figures- 73
Historical data available- Yes
Segments covered- Product Type and Distribution Channel
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Vegan dog food is made with 100% plant-based ingredients and does not contain animal components or byproducts. Human food trends such as clean labeling, veganism, alternative proteins, and healthy ingredients influence pet food trends. Vegan pet owners prefer to feed vegan food to their pets, which fuels the growth of the vegan dog food market. Moreover, the rising adoption of dogs and puppies and the surging rate of pet ownership are a few of the key factors driving the market growth.

Impact of COVID-19 Pandemic on Vegan Dog Food Market

The ongoing COVID-19 pandemic compelled the implementation of preventive measures that drastically altered the status of the animal feed industry and negatively impacted the growth of the Vegan Dog Food market. Governments across the globe have ordered the closure of their international ports, further causing disruptions in the Vegan Dog Food supply chain. The COVID-19 pandemic impacted the availability of raw materials to prepare Vegan Dog Food in almost all countries. Corn and soybeans are the main ingredients in Vegan Dog Foods. Many countries worldwide that depend on imports of these raw materials to prepare Vegan Dog Food have had substantial problems procuring the ingredients.

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Based on distribution channel, the vegan dog food market is segmented into supermarkets and hypermarkets, specialty stores, e-commerce, and others. The supermarkets and hypermarkets segment accounted for the largest market share in 2020, and the e-commerce segment is expected to register the highest CAGR in the market during the forecast period. E-commerce platforms offer a wide range of products of various categories to the customers across the world. Consumers can buy a product of their choice from homes or offices. Online retail is the fastest growing distribution channel for vegan dog foods owing to factors such as ease of accessibility, availability of wide range of products, convenience offered by these channels in terms of delivery of the products, cashbacks, discount coupons, and attractive deals. Moreover, due to the COVID-19 outbreak pandemic, people increasingly bought products through e-commerce platforms as they got convenient product delivery at their doorsteps. Many e-commerce platforms adopted the no-touch policy that ensured the safety of consumers. Such factors are expected to bolster the market growth for the e-commerce segment in the coming years.

Geographically, the global vegan dog food market is segmented into five regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). Europe held the largest market share in 2020, and Asia-Pacific is expected to register the highest CAGR during the forecast period. The rising adoption of plant-based diet in many European countries, such as Germany, the UK, and Italy, and the growing awareness about vegan pet food alternatives across the region are among the crucial factors driving the market growth in Europe. The presence of prominent market players, such as Antos B.V., Benevo, and Soopa Pets, is also expected to boost the market growth in the region during the forecast period. 

Vegan Dog Food Market: Competitive Landscape and Key Developments

Antos B.V.; Benevo; Bond Pet Foods, Inc.; V-dog; Soopa Pets; Vegan4dogs; Wild Earth; Yarrah; Isoropimene Zootrofe Georgios Tsappis Ltd.; and Halo Pets are among the key players in the global Vegan Dog Food market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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