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Pet Milk Replacement Products Market Key Players, Regional Overview, Trends And Forecast To 2027

01-13-2021 06:53 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent market insights

Pet Milk Replacement Products Market

Pet Milk Replacement Products Market

Pet milk replacement products are healthy alternative for puppies & kittens, who are deprived of milk from their mother due to high litter number, or illness of the mother. Dog and cat cafes and non-profit organizations across the globe are taking initiatives to give shelter to such puppies & kittens. At such places, orphaned, and nursing puppies & kittens are fed milk replacement products, in order to fulfill their nutritional requirements. Rising awareness of animal health has resulted in increasing number of initiatives towards helping orphaned puppies and kittens, which is expected to drive growth of the pet milk replacement products market over the forecast period. The market is expected to reach US$ 156.4 million by the end of 2027, exhibiting a CAGR of 5.7% over the forecast period.

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This is attributed to rising awareness about pet health products among pet owners. Growth in pet food industry is also expected to drive growth of the pet milk replacement products market. For instance, according to a report published by FEDIAF in 2018, annual growth rate of the pet food industry was 2.5% in Europe. Additionally, annual sales of pet food products was pegged at 8.8 million tons in 2018, according to FEDIAF.

Detailed Segmentation:

Global Pet Milk Replacement Products Market, By Pet Type:
Puppies
Kittens

Global Pet Milk Replacement Products Market, By Form:
Dry
Liquid

Global Pet Milk Replacement Products Market, By Distribution Channel:
Pet Retail
Mass
Farm
Online
Veterinary
Pet Distribution

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Key companies covered as a part of this study include Pet-Ag, Inc., The Hartz Mountain Corporation, Beaphar B.V., Petlife International Ltd., Royal Canin, Toplife Formula, GNC Holdings Inc., Grober Nutrition Inc., Versele-laga, and Manna Pro Products LLC

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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.

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