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Press Release

Pet Care Products Market High Opportunities Offers and Future Business Growth 2027

This press release was orginally distributed by SBWire

Seattle, WA -- (SBWIRE) -- 11/11/2019 -- Pet care product is categorized under those products which are used to take care of pet health such as food and nutritional supplements. The market growth can be attributed to the growing number of people adopting is fueling the demand of pet care product. Shifting preference of the pet owner for a specialized diet owing to growing dietary recommendations by vets for maintaining the health of the pet is further propelling the market growth. Also, many manufacturers in the market is focusing on providing special pet care products such as Farmina, with its N&D product line provides all-natural products such as chicken & pomegranate puppy mini & medium, chicken & pomegranate adult maxi, fish & orange adult mini, and others. These products are GMO-free, gluten-free, and are rich in high-quality vitamins, thus ensuring a high-quality specialized food diet for pets.

Market Dynamics

Rising trend of pet ownership, growing focus of owners on weight management of the pets coupled with the increasing demand for ancillary pet product are the major factor fueling market growth. In India, Scientific Remedies introduced the world's first therapeutic pet food, Hill's, which deals with nutritional management of the animals. According to the Association for Pet Obesity Prevention, 54% of dogs and 59% of cats in the U.S. suffered from overweight or obesity in 2016, which is expected to increase sales of therapeutic dog and cat food, and calorie-controlled products. According to the Association for Pet Obesity Prevention, the sales in North America for the therapeutic product grew by almost 20% from 2012 to 2017. Other factors such as pet owners spending on ancillary pet products such as shampoos, pet spa, pet accessories, and other products is expected to fuel the growth of the pet care products market. According to the American Feed Industry Association, the global spending on pet care in 2016 was valued at over US$ 100 billion and is expected to increase significantly, in the near future with growing diet controlled pet foods and hygiene.

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The market of pet care products is also expected to gain benefit on the account of growing technological innovation in the pet care industry. For instance, PetPartner CRM is a mobile application, which connects to various vet clinics for appointments, reminders, track medications, pet insurance, and buy food and medications. Other applications such as VetOnDemand provide assistant and support for consulting purpose to help assess the severity of the symptoms the pet is experiencing. The American Veterinary Medical Association introduced a Human-Animal Bond certification, which offer owners advice on how to build a good bond with the pet. Moreover, recently manufacturers have launched various apps which provide owners to monitor their pets when out of sight. For instance, in 2012, Petcube, Inc. introduced various products such as pet cube bites, pet cube play, pet cube care, and others, which allows the owner to look after their pet even when away from home and also aids in interaction with their pets.

Market Outlook

Manufactures are introducing various litter products which are also known as a sandbox, litter tray, litter pan, or cat box is basically used to collect indoor feces and urine of dogs, cats, rabbits. Out of which cat litter segment is projected to experience significant growth over the forecast period. Various cat litters are available in the market such as clay cat litter, silica cat litter, and biodegradable cat litters.

Rising demand for the eco-friendly product is projected to increase the market growth of biodegradable cat litters which consist of cedar, sawdust, pine, corn, beet pulp, soybean, wheat, and recycled paper products that can be incinerated, decompose and used as mulch.

For instance, Draynecs BVBA, a company from Belgium, introduced Clumping Vegetal Catlitter, which is made from the organic cereal-based fiber with high odor controllability and better shelf-life. Other biodegradable cat litter products are Feline Pine Original Cat Litter, Biodegradable Bentonite Kitty Litter, Biodegradable, and Hygienic Tofu Cat Litter in Blueberry Flavor along with others.

North America is expected to account for a major share in the pet care products market over the forecast period. According to the American Pet Products Association, in 2017, US$ 69.36 billion was spent on pets in the U.S., which is an increase of US$ 40 billion from 2001. The major spending sectors for pet owners are food and vet care, which is US$ 30 billion and US$ 17 billion respectively.

The Asia Pacific is expected to be the fastest-growing pet care products market by 2025 and this can be attributed to the increasing pet adoption in countries such as India, South Korea, and others. In South Korea, 17% of the household owns a pet (cats, dogs, mini pigs, and others), which fueling the growth of the pet care products market in the Asia Pacific region. Furthermore, in China country, local players such as Shanghai Bridge Petcare and others are competing with the international players such as Mars Foods, Royal Canin Au Yu (Shanghai) Pet Food, and others by using North European standards in pet food manufacturing and exporting various products such as Nature Bridge, Nature Club, Kitchen Flavor, Nory, and others with competitive pricing.

Some of the major key players in the pet care products market include Mars Incorporated, Nestle S.A., Hills Pet Nutrition Inc., Wellpet LLC, Proctor & Gamble Co., Nutriara Alimentos Ltd., Agrolimen SA, and Uni-Charm Corp. among others.

Market Segmentation

By Product Type

- Pet Food

- Dog Food

- Cat Food

- Others

- Cat Litter

- Pet Dietary Supplements

- Pet Healthcare

- Others

By Distribution Channel

- Hypermarket

- Supermarket

- Specialty Stores

- Online Stores

- Veterinary Stores

- Others

Key Developments:

The players operating in the pet care market are adopting various strategies such as mergers & acquisitions and new product development in order to maintain their position in a competitive business environment. For instance, in May 2017, PetSmart, Inc. completed the acquisition of Chewy Inc., one of the leading online retailer for pet care products for expanding their global presence along with better consumer experience with their convenient pet care products.

Furthermore, in August 2016, Annamaet Petfoods announced its new canine formula, Annamaet Sustain, as a part of its green business practices. This is a palatable formula made with Certified Fish Source.

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The various manufacturers are adopting various promotional and marketing strategies in order to boost their popularity around the globe. For instance, Animal Necessity, LLC, manufacturer of nutritional pet care products showcased their line of veterinary specialty products at world pet association trade show: SuperZoo held in Las Vegas, NV on August 2016. In addition to this, Best Shot Pet Products International launched its new Chlorhexidine Shampoo at the SuperZoo trade show in August 2016. The shampoo is used as moisturizing and routine bathing for dogs, horses, cats, and foals.

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

For more information on this press release visit: http://www.sbwire.com/press-releases/pet-care-products-market-high-opportunities-offers-and-future-business-growth-2027-1264724.htm

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