Global pet obesity management market
DUBLIN, May 16, 2024 (GLOBE NEWSWIRE) — Pet Obesity Management Market Size, Share by Product (Therapeutic Foods, Supplements), Animal Type (Dogs, Cats, Other Animals) and Distribution Channel and Trend Analysis Report” “Forecast by Region and Segment, 2024-2030” report has been added. ResearchAndMarkets.com Recruitment.
The global pet obesity management market size is expected to reach USD 14.5 billion by 2030 and is expected to expand at a CAGR of 5.94% during the forecast period. The growth of the market is attributed to the increasing prevalence of obesity in pets worldwide. For example, in the United States, 61% of cats and 59% of dogs were overweight or obese in 2022, according to the Association for Pet Obesity Prevention (APOP). The number of pets has increased dramatically in recent years as more families choose to keep pets to improve their quality of life. For example, the World Animal Health Association estimates that there are approximately 85 million dogs in the United States alone. According to the association, households in the United States, Europe and China own about 500 million dogs and cats. As of 2021, 70% of households own a pet, compared to 68% in 2016.
By comparison, the country’s dog and cat populations increased significantly from 2020 to 2022, according to the Canadian Animal Health Institute (CAHI). The number of cats increased from 8.1 million to 8.5 million. CAHI estimates for 2022 show that the annual medicalization rate for dogs remained stable at 86%, while the medicalization rate for cats increased by almost 3%. This shows that more domestic cats were brought to veterinarians from 2020 to 2022. Therefore, as the proportion of pet owners increases, the need for treatment of various diseases such as obesity also increases. This is because the majority of pet owners are concerned about the health of their animals and want better treatment results, which is driving the market growth. Additionally, a European study published in 2018 estimated body mass index (BMI) and found that 32% of dogs in the study were overweight or obese, 62% were normal weight, and 6% were underweight. It is stated that
Body fat index (BFI) charts showed that 56% of dogs were overweight or obese, while owners’ assessment of dog body condition score (BCS) showed that 22% of dogs were overweight or obese. It was shown that he was obese. In October 2022, Pinnacle Pet Group acquired Crum & Forster Pet Insurance Group’s UK operations, including Pet Protect and Biovet. Furthermore, in August 2022, Nestle India acquired Purina Petcare’s dog and cat food business, and Purina Petcare India was integrated into Nestle India. The move brings together two entities: Purina Pet Care India, which specializes in importing products, including the addition of wet cat food under the Fancy Feast brand. Such initiatives will foster deep penetration of pet obesity management products and drive lucrative growth of the market.
Market expansion efforts and new product launches are the key growth drivers. For example, in August 2023, Mars invested 800 million rupees (US$95.94 million) in the second phase expansion of its Telangana factory. Mars Petcare produces popular pet food brands such as Pedigree and Whiskers. 200 million dollars (US$23.98 million). The Government of Telangana and Mars have entered into a comprehensive partnership to strengthen efforts focused on pet care and nutrition in India. Additionally, Drools Pet Food Pvt. Ltd., a leading market player in India, will launch two groundbreaking initiatives in October 2023 aimed at revolutionizing pet medical services and veterinary practices across the country. Did. The first initiative, Drools Vet Thrive, is a visionary plan to strengthen veterinary hospitals and improve pet health services.
Pet Obesity Management Market Report Highlights
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The therapeutic food segment is expected to capture a market share of over 89.49% in 2023 due to the ever-increasing number of pets around the world, the prevalence of pet obesity, high palatability, and supportive efforts by industry players and government agencies. and monopolized the market.Nongovernmental organization
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Dog segment is expected to grow at the fastest CAGR during the forecast period
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E-commerce segment held the largest market share of 45.83% in 2023 and is expected to register the fastest CAGR from 2024 to 2030
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Consistent rise in pet ownership, increasing pet aging, growing startup culture, and rising pet spending contribute to market growth
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North America will lead the global industry in 2023 due to factors such as high obesity rates in dogs and cats, a high number of public-private partnerships, over-consumption of pets by owners, and growing awareness among pet parents about the importance of animals. monopolized.Care
Key attributes:
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report attributes |
detail |
|
number of pages |
140 |
|
Forecast period |
2023-2030 |
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Estimated market value in 2023 (USD) |
$9.58 billion |
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Projected market value to 2030 (USD) |
$14.5 billion |
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compound annual growth rate |
5.9% |
Main topics covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1. Market outlook
2.2. Segment outlook
2.3. Competitive Insights
Chapter 3 Pet Obesity Management Industry Outlook
3.1. Market system outlook
3.1.1. Parent market
3.1.2. Ancillary Market
3.2. Market trends
3.2.1. Analysis of market drivers
3.2.1.1. Pet obesity rates are increasing globally
3.2.1.2. Increase in pet insurance coverage amount
3.2.1.3. The growing number of pets around the world
3.2.1.4. Support activities
3.2.2. Market restraint analysis
3.2.2.1. Shortage of skilled veterinarians
3.2.2.2. Lack of precise regulation
3.2.3. Market opportunity analysis
3.2.4. Analysis of market issues
3.3. Pet Obesity Management Market Analysis Tools
3.4. Estimated obesity prevalence statistics by major species, 2023
3.5. Price analysis
3.6. Estimated animal populations by major species and major countries, 2023
3.7. Impact analysis of the new coronavirus infection
Chapter 4 Pet Obesity Management Market: Animal Type Estimation and Trend Analysis
4.1. Segment Dashboard
4.2. Global Pet Obesity Management Market: Animal Type Behavior Analysis
4.3. Global Pet Obesity Management Market Size and Trend Analysis, by Animal Type, 2018-2030 ($ Million)
4.4. Dog
4.5. Cat
4.6. Other animals
Chapter 5 Pet Obesity Management Market: Product Forecast and Trend Analysis
5.1. Segment Dashboard
5.2. Global Pet Obesity Management Market: Product Trend Analysis
5.3. Global Pet Obesity Management Market Size and Trend Analysis, by Product, 2018-2030 ($ Million)
5.3.1. Therapeutic food
5.3.2. Supplements
Chapter 6 Pet Obesity Management Market: Distribution Channel Estimation and Trend Analysis
6.1. Segment Dashboard
6.2. Global Pet Obesity Management Market: Distribution Channel Trend Analysis
6.3. Global Pet Obesity Management Market Size and Trend Analysis, by Distribution Channel, 2018 to 2030 (USD Million)
6.3.1. Pet specialty store
6.3.1.1. Therapeutic Foods Market Revenue Estimation and Forecast, 2018-2030 (USD Million)
6.3.2. Electronic commerce
Chapter 7 Pet Obesity Management Market: Regional Estimates and Trend Analysis
7.1. Regional Dashboard
7.2. Pet Obesity Management Market Share, by Regions, 2023 and 2030, USD Million
Chapter 8 Competitive Environment
8.1. Classification of market participants
8.2. Company market position analysis/heap map analysis
8.3. Company profile
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Mars Incorporated
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Hills Pet Nutrition Co., Ltd.
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Nestlé SA
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Yadare Pet Food Co., Ltd.
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farmina pet foods
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Now Foods
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billback
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Viovet Co., Ltd.
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Rolf C. Hagen & Co.
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Decla
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Vivaldis Health & Foods
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pro balance
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Masterpet Australia Pty Ltd.
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Neogen Co., Ltd.
For more information on this report, please visit https://www.researchandmarkets.com/r/m49it9.
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