Will high pet treat sales growth soon come down to earth?

Pet treats are popular but also a discretionary expense, and in inflationary times, some pet owners may reduce their spending in the category.

Debbie Phillips-Donaldson

August 14, 2024

Higher pet treat prices may be driving some pet owners to cut back on their spending, leading to falling sales growth.

Higher pet treat prices may be driving some pet owners to cut back on their spending, leading to falling sales growth.

ClarkandCompany | iStock.com

Pet treats have been one of the fastest-growing categories for several years. In 2023, U.S. sales of dog and cat treats rose more than 10% both online and in stores, according to NielsenIQ. That was on top of double-digit growth in 2022, helping U.S. pet treat sales reach US$11 billion, per Packaged Facts.

The U.S. is a long-developed pet food market, where pet owners tend to pamper their pets. Yet even in a developing region like Asia-Pacific, pet treats accounted for US$6 billion in 2022, 18% of the region’s pet food market.

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