The global pet milk market was valued at USD 130 million in 2021. It is estimated to reach USD 245 million by 2030, growing at a CAGR of 7.3% during the forecast period (2022–2030).
Due to considerations such as enhanced social standing and physical and mental health benefits, the trend of keeping companion animals such as dogs and cats is growing significantly more popular than before. Pet ownership can relieve stress, build confidence, keep the heart healthy, and assist control blood pressure and cholesterol levels, all scientifically-proven benefits that urge people to keep pets. As a result, an increase in pet adoption is a critical component driving the pet milk market forward.
Furthermore, due to their bad health, mother dogs/cats may be unable to produce sufficient milk. In such circumstances, the neonatal pups and kittens are fed pet milk or pet milk replacers to supply them with the critical nutrients and proteins they need to survive and grow. Since lactose-intolerant pets such as dogs and cats cannot be given cow milk, the use of pet milk has grown more significant. This is another important reason that drives global demand for pet milk.
Additionally, the growing trend of pet humanization, rapid urbanization, the shift toward nuclear families, high disposable income, and increased awareness of the health benefits of owning pets are all important factors that contribute to an increase in pet adoption and, as a result, to the growth of the pet milk market over the forecast period.
The adoption of small puppies and kittens is increasing, especially among the young and urban population. Most households tend to adopt only a single pet. Adoption of the pet or buying a pet from pet stores deprives newborns of colostrum milk. Moreover, in many cases, the mother cannot produce an adequate amount of milk due to a high number of litter. Hence, pet owners tend to opt for pet milk or replacers to feed their pets to fulfill the basic nutritional needs of newborn pets. Pet milk contains prebiotics, probiotics, necessary vitamins, minerals, proteins, carbohydrates, and fats, which are essential for the development and growth of newborn pets. This commercial pet milk is easy to digest and perfectly substitutes the colostrum requirement. Hence, insufficient availability of mother's milk/colostrum fosters the growth of the pet milk market globally.
People in emerging economies have become more aware that owning pets has a tremendous positive impact on human health. Most emerging nations are characterized by rapid urbanization, a shift to nuclear families, and rising disposable incomes. These factors are responsible for the rise in the adoption of pets. Moreover, the aged population in urban areas is more likely to adopt a small pet for convenience. Owning a pet reduces blood pressure, stress, and anxiety and nurtures mental health. Additionally, young couples also tend to have a pet. These factors are encouraging increased spending on pet care products. Rapid urbanization and an increase in households indirectly boost the pet population. These factors are expected to grow the pet milk market during the forecast period.
Vendors in the pet milk industry have to follow strict norms and regulations of governments regarding the composition and production process of the milk. Manufacturers must carefully produce pet milk based on breeds and types of pets, as each animal has different nutritional requirements to thrive at the neonatal stage. Moreover, packaging plays an essential role in the storage of milk replacers. Manufacturers also have to pay utmost attention to packaging liquid and powdered pet milk replacers. Government authorities approved additives and ingredients are only allowed to be used in the manufacturing of pet milk. Moreover, if manufacturers fail to comply with the standards, they may face strict actions and government penalties. Therefore, stringent government norms hinder the growth of the pet milk market.
Animal cafes or pet cafes are unique places for pet animals where people can enjoy watching and interacting with numerous pets. There are various pet cafes for animals such as dogs, cats, raccoons, rabbits, reptiles, and birds. People can see pets having drinks and food in a pet cafe. These cafes have slowly gained popularity in the last few years. With the growth in population and adoption of pets, the concept of pet cafes is also gaining popularity. The rise in the number of pet cafes can significantly impact the pet industry's revenue and gradually on the market. Moreover, the most popular cafes include dog and cat cafes. Hence, such factors are expected to provide lucrative opportunities for market growth during the forecast period.
The global pet milk market share is segmented into pet type, product form, distribution channel, and region.
Based on pet type, the global market is categorized into Dogs and Cats.
The Dog segment holds the maximum market share and is estimated to grow at a CAGR of 4.8% during the forecast period. Puppies mainly consume pet milk. However, pet owners sometimes feed pet milk to adult dogs, too, owing to the high nutritional value of the milk. Keeping dogs and pups as pets is beneficial for the mental health of humans. It relieves stress and depression. The rise in the trend of adoption of pets among the young population, urbanization, shift toward nuclear families, adoption of pets by aged people, and rise in the population of dogs are the key factors that propel the growth of the pet milk market across the globe.
Cat pet milk is the fastest-growing segment. People prefer owning a cat as a pet more than dogs. This is attributed to the fact that cats are less expensive, require less space, choose to stay all the time indoors and make fewer noises. Therefore, owning a cat/kitten as a pet is more convenient than a dog/puppy. The number of cats is expected to be responsible for the growth of the market globally. Furthermore, people have become more aware of the health benefits of owning a pet cat, such as lowering stress and anxiety, low risk of heart diseases, and low risk of allergies. All these factors are expected to propel the growth of the global market during the forecast period.
Based on product form, the global market is segregated into Powder and Liquid.
Powder pet milk is the largest shareholder and is estimated to grow at a CAGR of 5.2% during the forecast period. The powdered form of pet milk offers certain advantages that increase manufacturers' profitability. Firstly, the production cost is optimized for powder pet milk as no refrigeration is required for dry storage. Moreover, pet milk in powdered form can be stored for extended periods and is also suitable for industrial packaging. These benefits associated with powder pet milk are expected to propel the growth of the global market in the upcoming years.
Liquid pet milk is considered better, safe, and reliable. It is mainly helpful while traveling when it is challenging to obtain hot water for making powdered pet milk ready to drink. Liquid pet milk is hassle-free and ready-to-drink pet milk. It offers many conveniences to pet owners while feeding their pets. These benefits associated with liquid pet milk are expected to propel the growth of the global market in the upcoming years.
Based on distribution channels, the global market is segmented into Specialty Stores, Mass Retail Stores, Direct-To-Consumer, E-Commerce, and Others.
The Specialty Stores segment dominates the market and is expected to grow at a CAGR of 5% during the forecast period. Manufacturers are constantly working to boost the visibility of their items on store shelves, which is why they are primarily targeting niche stores. As a result, all varieties of pet milk are available in specialty stores. Moreover, pet specialty stores provide options such as discounts as well as benefits of immediate gratification, which results in the growth of the market.
Mass Retail Stores cover a large set of product portfolios from various food & beverages domains in the market, thus, making them easily accessible for customers. Mass retail stores. These stores are organized with goods from domestic and international platforms. These stores provide consumers with access to niche products accessible on the market. Hence, the establishment of mass retail stores in widespread locations provides lucrative opportunities for the growth of the global pet milk market. Manufacturers offer special discounts through these mass retail stores, encouraging mass retail stores to sell their products. For these strategies, manufacturers are making efforts to increase the shelf visibility of products, which attracts consumers and helps in the growth of the market.
E-Commerce is the fastest-growing segment. Consumers in industrialized countries in North America and Europe are more accepting of e-commerce (online sales channels), owing to the widespread usage of mobile phones and the internet. Pet milk can be bought and sold quickly via the internet. In recent years, the popularity of this distribution channel has grown due to aggressive online marketing, effective alternatives, detailed information, discounts, and free home delivery offered by numerous e-commerce platforms. Furthermore, the industry is seeing substantial growth in developing economies due to increased internet penetration. Therefore, the online sales channel segment is expected to grow at the highest rate during the forecast period and boost the market.
Region-wise, the global pet milk market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
North America is the leading market for pet milk, owing to its vast pet population. It is expected to grow at a CAGR of 5.4% during the forecast period. Most pet milk manufacturers are of US origin, such as Pet Ag, The Hartz Mountain Corporation, Milk Products, Inc., Royal Canin, and Manna Pro Products, L.L.C. The US is the largest contributor to the North American market. It is also the leading exporter of pet milk globally. Canada and Mexico follow the US in revenue generation from pet milk. North America is characterized by a huge pet population, increased awareness about the health benefits of owning a pet, nuclear families, high disposable income, and an increased pet adoption rate. All these factors are expected to drive the growth of the market during the forecast period. North America is expected to retain its dominance in the future in terms of revenue generation.
Europe is the second-largest market for pet milk after North America. The Europe market is projected to reach USD 68 million by 2030, growing at a CAGR of 4.6%. It is home to pet milk manufacturers such as Petlife International, Ltd., Beaphar, B.V., Toplife Formula, and Versele-Laga, N.V. In this region, the UK is the leading market for pet milk, owing to the rise in the pet population and consumer awareness in the region The market in Europe is expected to grow, due to factors such as consumer awareness, high disposable income, growth in the pet population, developed e-commerce channels, high rate of pet adoption, and rise in trend of pet humanization.
Asia-Pacific has the highest human population, and most of the nations in this region are in their developing stage. Asia-Pacific is expected to offer an excellent opportunity for growth to pet milk manufacturers, owing to this region's rapid development and growth. There is no major manufacturer of pet milk in this region. However, the adoption of pets has become popular, and the Asia-Pacific market has a lot of scope for growth. The factors driving the development of the market in Asia-Pacific are growing consumer awareness regarding the health benefits of having a pet, rising disposable income, rapid urbanization and shift towards nuclear family, and an increasing rate of the pet population. The growing importance of online distribution channels will also play a vital role in the growth of the market in the Asia-Pacific region.
The key players profiled in this report include
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