SAN FRANCISCO, Dec. 16, 2021
SAN FRANCISCO, Dec. 16, 2021 /PRNewswire/ -- The global pet meal kit delivery services market size is expected to reach USD 5.20 billion by 2028, registering a CAGR of 15.3% over the forecast period, according to a new report by Grand View Research, Inc. Rising awareness among pet owners related to adverse effects of nutrition deficiency in pets, coupled with their increased spending on pet food is expected to drive market demand across the globe over the forecasted period. The dogs animal type segment led the market and accounted for the leading share of the total revenue in 2020.
Key Insights & Findings from the report:
Read 75 page market research report, "Pet Meal Kit Delivery Services Market Size, Share & Trends Analysis Report By Pet Type (Dogs, Cats), By Subscription Type (Topper, Full), By Food Type (Dry, Wet), By Region (APAC, Europe), And Segment Forecasts, 2021 - 2028", by Grand View Research
The segment is expected to rise over the anticipated period owing to the easy availability of multiple flavored meals offered by companies, such as PetPlate, NomNomNow Inc., The Farmer's Dog Inc., and Spot & Tango. For instance, NomNomNow Inc. offers meals in flavors, such as, beef, turkey, pork, and chicken, and thus offering a variety of selections for the consumers. Furthermore, with a rise in the cases of dog diseases due to nutritional deficiency, there is an increase in demand for meal kit delivery services to provide calculated meals based on the dog's profile.
The full subscription type segment led the market in 2020. Full subscription plans offer a higher discount to consumers, along with free trials that help them gain more popularity over budget-friendly topper subscriptions. Furthermore, full subscriptions are based on the pet's profile, which includes their weight, age, breed, activity level, allergies and health conditions, and taste preferences, which help consumers understand the required calorie intake for their pets. For instance, as per the Spot & Tango, an active small dog requires approximately 300 calories a day, while a medium and large dog requires around 600 and 1300 calories a day respectively.
Since full subscriptions cover 100% of the calorie intake required, it gets more convenient for the consumers to go forward with monthly/yearly subscriptions, thereby leading to boosting this segment's growth. North America dominated the global market and generated the highest contribution of sales to the market revenue in 2020. The rising investment by key players is one of the major factors driving the region's growth. For instance, in April 2020, Spot & Tango, U.S., received a seed funding of USD 4.2 million to launch their dry pet meal services across the globe.
Also, in January 2019, The Farmer's Dog Inc. received funding of USD 39 million to expand its services by shipping meal kits for pets across the globe. The market is fragmented with the presence of a large number of global and regional players and companies face stiff competition from each other as some of them are among the top providers that have a large customer base.
Grand View Research has segmented the global pet meal kit delivery services market on the basis of pet type, food type, subscription type, and region:
List of Key Players of Pet Meal Kit Delivery Services Market
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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