The vegan food pet market is likely to grow during the period from 2021 to 2028 and reach $15.7 million. By the end of 2021, the value of this market should be around $ 9,3 million, meaning that it will grow by 7.7%.
Statistics show that more than 60% of pet owners are paying attention to their pets’ nutrition and trying to buy healthy products.
For a pet product to be considered vegan, it should be made with all-natural ingredients and have no meat, milk, eggs, or any by-products. There should also not be any kind of animal cruelty involved in the manufacturing process.
In 2020, the most sales of vegan food came from Europe, but the situation is going to change in the next 7 years. The highest growth is expected in Asia, with around 8.6% CAGR.
The growth in this market is influenced by trends in the human food industry. Since veganism and vegetarianism are on the rise, as 70% of the world is trying to reduce meat consumption, vegan pet food sales are increasing too.
Most vegan pet food buyers prefer buying the products they would buy for themselves. In other words, they want to get pet food with eco-friendly and healthy ingredients, with no meat or by-products.
Besides food, vegan supplements are also on the rise. People are trying to buy at least healthy vegan treats for their pets. CBD products like healthy all-natural treats and oils take up most of the market.
So, with the public interest and more environmental concerns, vegan pet food is sure to get a bigger share of the pet food market.
If you want to be a part of this statistic, be sure to consult your vet first. Not all pets are the same, and some are not able to thrive on meat-free diets.