Global Pet Milk Replacement Products Market is valued approximately USD 198.31 million in 2020 and is anticipated to grow with a healthy growth rate of more than 7.06 % over the forecast period 2021-2027. Pet milk replacement products are a safe option for puppies and kittens who are deprived of milk from their mother due to a large litter size or the mother’s illness. Orphaned and nursing puppies and kittens are provided milk replacement products to meet their nutritional needs. Rising animal health awareness has resulted in an increase in the number of programs aimed at helping orphaned pups and kittens, which is projected to drive growth in the pet milk replacement products market throughout the forecast period. Growth in the pet food sector as a result of rising adoption of cats and dogs is also predicted to boost growth in the market for pet milk replacement products. Dogs are the most prevalent pets in Australia, followed by cats, according to the Royal Society for the Prevention of Cruelty to Animals (RSPCA Australia), with 38 percent of homes owning a dog. In 2016, there were around 4.8 million pet dogs and 3.9 million pet cats in Australia. According to a FEDIAF analysis issued in 2018, the yearly growth rate of the pet food business in Europe was 2.5 percent. According to FEDIAF, yearly sales of pet food items were 8.8 million tonnes in 2018. However, high costs are linked with pet replacement products, and these products are connected with specific problems, such as milk replacement products that do not entirely satisfy nutritional needs which hinders the growth of the market over the forecast period of 2021-2027. Also, manufacturers of pet milk replacement products market are focusing on different expansion methods such as mergers and acquisitions, and the popularity of domestic pets has risen considerably among consumers is likely to increase the market growth during the forecast period.
The Global Pet Milk Replacement Products market is segmented into major regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share attributing to the expanding trend of pet adoption among consumers and growing number of animal shelters for abandoned animals. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027. Factors such as the growing tendency of humanization of pets, as well as increased disposable income in countries, are important reasons driving up consumer expenditure on pet care, thus driving the market growth in the region.
Major market player included in this report are:
The Hartz Mountain Corporation
Petlife International Ltd.
GNC Holdings Inc.
Grober Nutrition Inc.
Manna Pro Products LLC
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Pet Type:
By Distribution Channel:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of the Global Pet Milk Replacement Products Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers