Increasing Adoption of Dogs for Companionship Contributes to Growth of Therapeutic Dog Food Market
According to our latest market research study on “Therapeutic Dog Food Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Material Type,” the market 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. 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.
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.
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.
Key players operating in the therapeutic dog food market include 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; and WellPet are among the key companies operating in the therapeutic dog food market. The market leaders focus on new product launch, expansion and diversification, and acquisition strategies, which allow them to tap into prevailing business opportunities.
- In July 2021, General Mills acquired Tyson Food’s pet treats business for US$ 1.2 billion in cash. The business, which includes the Nudges, Top Chews, and True Chews product categories, is a leader in the natural meat treats industry for pets.
- In August 2021, WellPet, LLC announced several new pet food and treat products, including formulations for puppies, kittens, and senior pets.
Therapeutic Dog Food Market, by Region, 2020 (%)
Therapeutic Dog Food Market Size, Growth | Report By 2028
Download Free Sample
Therapeutic Dog Food Market Forecast to 2028 - 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 Size, Growth | Report By 2028
Download Free SampleTherapeutic Dog Food Market Forecast to 2028 - 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
The global therapeutic dog food market is segmented on the basis of product type, application, and geography. In terms of product type, the market is segmented into dry food, wet/canned food, snacks/treats, and others. Based on application, the therapeutic dog food market is segmented into weight management, digestive care, allergy and immune system health, and others. 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.
Contact Us
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com