Packaged Facts analysis shows the pet treat market is slowing despite the popularity of treats. The group projects the pet treat market will continue to grow over the next five years capitalizing on key opportunities including:
- value-positioned treats
- treats for cats
- treats featuring alternative proteins
U.S. retail sales of pet treats reached $11 billion in 2022.” – Pet Treats and Chews in the US, 5th Edition report.
Source: Pet Product News, July 2023. Link.