Pet milk or pet milk replacers serve as substitutes for a pet mother’s milk (colostrum) to nourish newborn puppies and kittens. When a mother dog or cat is absent or unable to produce sufficient milk due to poor health or other reasons, pet milk replacers are used to provide essential nutrients and proteins necessary for the survival, growth, and development of neonate dogs and cats.
This report profiles key players in the industry, including Pet Ag, Inc., Beaphar, B.V., Grober Nutrition, Inc., Fetch For Pets, LLC, Milk Products, Inc., Manna Pro Products, LLC, Petlife International Ltd., Royal Canin U.S.A., Inc., Toplife Formula Pvt. Ltd., and Versele-Laga, N.V.
The increasing trend of pet ownership, particularly owning dogs and cats, is gaining more popularity due to the associated physical and mental health benefits and improved social status. Owning a pet has been scientifically proven to reduce stress, boost confidence, maintain a healthy heart, and help control blood pressure and cholesterol levels. These factors encourage people to adopt pets, which in turn drives the growth of the pet milk market.
In terms of pet type, dogs currently contribute the most to the market revenue, with $59.2 million in 2019. However, the rising popularity of cats as pets may lead to both segments being nearly equivalent in terms of revenue during the forecast period. Dogs are more popular due to their trainability and ease of teaching commands. Nevertheless, cats are gaining significant traction in countries like the U.S., China, Japan, and the UK, as owning a cat requires lower costs, less space, and no obligation for outdoor walks. Consequently, the revenue generated from the cat segment is expected to match that of the dog segment in the future.
Among different product forms, the powder segment currently dominates the market with $86.9 million in 2019 and is projected to reach $131.3 million by 2027, growing at a CAGR of 5.0% during the forecast period. Powdered pet milk is highly preferred by customers and manufacturers due to its numerous advantages. It requires no refrigeration, offers convenient storage and distribution due to its lightweight nature, has a longer shelf-life, and can be easily stored at room temperature. These factors contribute to lower production costs and customer convenience, making the powder segment the leading choice in the global pet milk market.
Specialty stores are a popular distribution channel for purchasing pet milk, driven by the easy availability of desired brands and product forms. Online sales of pet milk through e-commerce platforms are also gaining popularity, thanks to the proliferation of digital platforms worldwide.
North America currently holds the largest share in the pet milk market and is expected to maintain its dominance throughout the forecast period. Factors such as high purchasing power, significant demand for companion animals like dogs and cats, the humanization of pets, and increased consumer awareness regarding the health benefits of pet ownership contribute to the growth of the pet milk market in this region.
Companies in the global pet milk industry have adopted various strategies to expand their market share, capitalize on market opportunities, and increase profitability.
The pet milk market was valued at $116.3 million in 2019 and is projected to reach $173.1 million by 2027, growing at a CAGR of 6.9% during the forecast period. The cat segment is expected to witness the fastest growth, with a CAGR of 5.1%. In 2019, the powder segment accounted for 74.7% of the global pet milk market share, with a value of $86.9 million. The U.S. was the leading market in North America in 2019 and is forecasted to reach $44.1 million by 2027, growing at a CAGR of 5.3%.
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