Pet Milk Replacers Market Growth & Trends
The global pet milk replacers market size is expected to reach USD 329.6 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.5% over the forecast period. Rising consumer trend of owning domestic animals, such as dogs and cats, is the key factor for the market growth. Moreover, increasing demand for the nutritious food products is anticipated to offer new avenues for the market over the forecast period.
With changing lifestyle and growing concerns over pet health, consumers have been increasingly spending on high quality food products. Animal owners have been overly concerned about their pets’ health as cats and dogs are more prone to various infections. According to various studies, 37% dogs and 90% cats are more prone to infection in their early stage on account of lack of their mother’s milk or various other reasons.
Domestic animal owners are expected to further breed puppies and kittens and employ the best kind of milk replacers at early stages in order to avoid sickness as well as infections. Puppy and kitten milk replacements include a wide range of supplements that help provide the proper ratio of amino acids to these animals. Most consumers particularly employ the best brands of puppy milk replacers, including Esbilac and Nutri-Vet Milk Replacement.
Pet Milk Replacers Market Report Highlights
- By pet category, the dogs segment accounted for the largest revenue share of 51.4% in 2019. It is expected to maintain the lead over the forecast period owing to large adoption of puppies by the customers across the globe
- The cats category is anticipated to be the fastest growing segment with a CAGR of 7.8% from 2020 to 2027. This growth is attributed to shifting trend towards ownership of more than one cat in developed economies of Europe and North America
- Based on product, the non-medicated segment accounted for the largest revenue share in 2019 and is expected to maintain the lead over the forecast period owing to large adoption of puppies by the customers across the globe
- The powder form accounted for the largest revenue share in 2019 and is anticipated to maintain its lead over the forecast period. Powder form of the product is widely used by consumers on account of their longer shelf life, easy transportation, storage, and handling
- North America held the largest share of more than 35.0 % in 2019. Growing trend of owning domestic animals, including cats and dogs, among consumers in U.S. is expected to fuel the product demand over the forecast period.