The Insight Partners Latest Research for Report “Therapeutic Dog Food Market Forecast to 2028″ Includes COVID-19 Impact and Global Analysis By Product Type (Dry Food, Wet/ Canned Food, Snacks/ Treats, and Others); Application (Weight Management, Digestive Care, Allergy and Immune System Health, and Others) and Geography
“Therapeutic Dog Food Market Forecast to 2028 is expected to reach US$ 8,949.52 million by 2028 from US$ 6,095.70 million in 2021; it is estimated to grow at a CAGR of 5.6% from 2021 to 2028. The report highlights the market trends, drivers and deterrents.
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The increasing adoption of dogs for companionship, growing prevalence of chronic diseases among dogs and surge in launch of therapeutic dog food products drive the market growth. However, low sales in developing countries hampers the market growth.
Segments:
Based on product type, the global therapeutic dog food market is segmented into dry food, wet/canned food, snacks/treats, and others. In 2020, the dry food segment held the largest share of the market. Furthermore, the snacks/treats segment is expected to register the highest CAGR in the market during 2021–2028. Dry foods are perceived beneficial to their dental health. In some cases, they can decrease calculus (tartar). The choice of dry or canned foods is based on pet owner preferences and perhaps cost, unless the pet requires higher fluid intake (like cats with chronic kidney disease or pets with urinary stones) dogs which is expected to drive the market during the forecast period.
Based on application, the therapeutic dog food market is segmented into weight management, digestive care, allergy and immune system health, and others. The weight management segment would hold the largest market share in 2021. Further, the digestive care segment is expected to hold a significant market share in the therapeutic dog food market in the future. Recently, in January 2021, Wellness Natural Pet Food, a leading WellPet brand, launched a new line of functional pet food formulas targeting digestive health of dogs and cats. Wellness CORE Digestive Health features digestive enzymes, prebiotic fibers, and probiotics to support gut health. Such developments are likely to drive the therapeutic dog food market growth for the digestive care segment.
On the basis of geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South and Central America.
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Covid-19 Outbreaks:
As per the Insurance Research Council’s October 2020 report, during the COVID-19, around 30% of Americans adopted a pet owing to increase in need for companionship. Furthermore, according to the German Kennel Club (VDH), ~20% more dogs were purchased in 2020 than the previous year. Most of the consumers in the market grappled with the onset of the pandemic. Retail and e-commerce platforms witnessed high growth due to several restrictions on the brick-and-mortar stores and the disruption of overall supply channels.? Several online retailers reported strong sales of pet products. For instance, Chewy.com witnessed accelerated sales since February 2020. The company generates ~70% of its sales through subscription customers. These conditions are offering lucrative opportunities for the growth of the therapeutic dog food market in the coming years.
Top Companies are:
- Mars, Incorporated
- Nestlé
- Hill’s Pet Nutrition, Inc.
- The J. M. Smucker Company
- GENERAL MILLS, INC.
- ANIMONDA
- DARWIN PET
- SCHELL & KAMPETER, INC.
- AFFINITY PETCARE S.A
- Beaphar
- WellPet
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