North America Vegan Pet Food Market 2021-2028 | Projected to Reach $6.48 Billion by 2028 | Product Innovations & Developments are Key in this Highly Competitive Space – ResearchAndMarkets.com – Yahoo Finance

December 20, 2021 by No Comments

DUBLIN, December 20, 2021–(BUSINESS WIRE)–The “North America Vegan Pet Food Market Forecast to 2028 – COVID-19 Impact and Regional Analysis By Product Type (Dry Food, Wet Food, and Others), Pet Type (Dogs and Cats), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)” report has been added to ResearchAndMarkets.com’s offering.

According to the study, the market is expected to reach to US$ 6,485.86 million by 2028 from US$ 3,845.64 million in 2021. The market is estimated to grow at a CAGR of 7.8% from 2021 to 2028.

The growing number of pet owners, fostering humanized approach towards pets, and raising pet food fortification are the major factor driving the growth of the vegan pet food market. However, nutrient inadequacy related to vegan pet food hinders the growth of vegan pet food market.

The US in North America has the highest number of confirmed cases of COVID-19 among all key countries. This is likely to impact the overall animal feed industry in the region, including vegan pet food. The North American region is a significant contributor to the vegan pet food market.

Owing to the rise in COVID-19 cases, various trade shows and conferences – which are a medium to share information related to pet health, product innovations, and trends in relevant markets; and help the companies to realign their strategies – have been postponed or canceled. Cancellations of these events have impacted the growth of the vegan pet food market indirectly.

Market Segment Insights

North America vegan pet food market is segmented based on product type, pet type, and distribution channel.

  • The North America vegan pet food market, based on product type, is segmented into dry food, wet food, and others. Dry food segment accounted for the highest share in the market in 2020 is expected to be fastest growing during forecast period.

  • Based on pet type, is segmented into dogs and cats. The dogs segment accounted for the highest share in 2020 and is expected to be the fastest growing during forecast period.

  • Based on distribution channel, is segmented into supermarkets and hypermarkets, specialty stores, online retail and others. The supermarkets and hypermarkets segment accounted for the highest share in 2020 and online retail segment is expected to be the fastest growing during forecast period.

Competitive Analysis

Antos B.V.; V-dogs; Bond Pet Foods, Inc.; Wild Earth; Yarrah; and Halo Pets are among some of the …….

Source: https://finance.yahoo.com/news/north-america-vegan-pet-food-141400350.html

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