Pet Milk Market to generate $173.1 million by 2027, with a CAGR of 6.9%
on-going trend of pet humanization, shift toward nuclear families due to urbanization, growth in rate of pet population, and rise in trend of pet adoption are crucial factors responsible for growth of the global pet milk market. The outbreak of COVID-19 pandemic has also led to increase in adoption of companion animals such as dogs and cats as people across the globe were in self-isolation at their homes. The e-commerce segment has positively impacted the overall pet food supply chain as the entire pet food industry witnessed approximately 6% surge in the revenue. These factors are expected to boost the pet milk market during the forecast period.
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Pet milk or pet milk replacers are used as substitute for pet mother’s milk (colostrum) to feed neonate puppies and kittens. When a mother dog or mother cat is not present or not capable of producing milk due to poor health conditions or sometimes if mother milk is available in insufficient quantity then pet milk replacers are used as they provides neonate dogs and cats with essential nutrients and proteins required for survival, growth, and development.
Growth in trend of owning a companion animal such as dogs and cats is gaining much more popularity than before due to factors such as physical and mental health related benefits and improved social status. Owning a pet can reduce stress, boost confidence, keep heart healthy, and help control blood pressure and cholesterol levels. These are scientifically proven facts that encourage people to own pets. Hence, rise in adoption of pets is a vital factor that propels growth of the pet milk market.
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Region wise, North America dominated the pet milk market in 2019, and is expected to sustain its dominance throughout the forecast period. The key factors driving the pet milk market growth in the region are high purchasing capacity of majority of the population, high demand for companion animals such as dogs and cats, humanization of pets, and consumer awareness regarding health benefits of owning a pet.
The players operating in the global pet milk industry have adopted various developmental strategies to expand their market share, exploit the pet milk market opportunity, and increase profitability in the market.
The key players profiled in this report include 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.
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1 https://www.alliedmarketresearch.com/pet-milk-market-A10842
2 https://www.alliedmarketresearch.com/cultured-buttermilk-market-A16931
3 https://www.alliedmarketresearch.com/milk-packaging-market
