Press release
Healthy Pets, Happy Homes: 2024 Global Market Insights on Therapeutic Dog Food
Therapeutic Dog Food Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $8.66 billion In 2028 At A CAGR Of 5.8%.
The therapeutic dog food market size has grown strongly in recent years. It will grow from $6.46 billion in 2023 to $6.91 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to increased pet ownership rates, growth in awareness of pet health, increase in pet humanization, prevalence of canine health issues, veterinary recommendations.
The therapeutic dog food market size is expected to see strong growth in the next few years. It will grow to $8.66 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to increasing aging pet population, rising incidence of allergies, advancements in veterinary medicine, nutrigenomics and personalized nutrition, increasing focus on digestive health. Major trends in the forecast period include customized and prescription diets, grain-free and limited ingredient diets, online retail growth, humanization of pet food, research in nutrigenomics.
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Therapeutic Dog Food Market Major Segments
The therapeutic dog food market covered in this report is segmented -
1) By Type: Dry Food, Wet Or Canned Food, Snacks Or Treats, Other Types
2) By Distribution Channel: Supermarkets Or Hypermarkets, Specialty Pet Food Stores, Online Channels, Other Distribution Channel
3) By Application: Weight Management, Digestive Care, Allergy And Immune System Health, Diabetes, Skin And Coat Care, Kidney Health, Hip And Joint Care, Illness And Surgery Recovery Support, Other Applications
Key Driver - Surge In Pet Ownership To Drive Market Growth
The rise in pet ownership is expected to propel the growth of the therapeutic dog food market going forward. Pet ownership refers to anyone who owns, harbors, keeps, or has custody of a dog, cat, or another domestic animal. Therapeutic dog food helps dogs prevent disease and provides other healthy nutrients for proper growth and a balanced diet. Hence, the rise in pet ownership would help increase the consumption of therapeutic dog food. For instance, in September 2022, according to Health for Animals, a Belgium-based animal health association, 2021 70 % of American households had a pet reaching 150 million pets in 2021, up from 68 % in 2016. Further, more than 500 million dogs and cats are owned by families in the U.S., EU, and China alone. Therefore, the rise in pet ownership is driving the growth of the therapeutic dog food market.
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Prominent Trend - Product Innovations Transforming The Therapeutic Dog Food Market
Product innovations are a key trend gaining popularity in the therapeutic dog food market. Major companies operating in the therapeutic dog food market are adopting recent technologies to sustain their position in the market. For instance, in August 2022, PawCo Foods, a US-based company that makes healthy and delicious pet foods made from plant-based meat, launched the world's first pet food made from plant-based meat. It includes all the necessary vitamins, minerals, and amino acids most adult dogs require to flourish. It is also recommended for pets with allergies.
Therapeutic Dog Food Market Players
Major companies operating in the therapeutic dog food market report are Nestlé S.A., Archer Daniels Midland Company, Mars Incorporated, General Mills Inc., The J.M. Smucker Company, Unicharm Corporation, Nisshin Seifun Group Inc., Thai Union Group PCL, Hill's Pet Nutrition Inc., Spectrum Brands Inc., Royal Canin SAS, Blue Buffalo Co. Ltd., Virbac Corporation, Dechra Veterinary Products LLC, Affinity Petcare S.A., Schell & Kampeter Inc., Vetoquinol Group, Champion Petfoods, JustFoodForDogs, Darwin's Natural Pet Products, Animonda Petcare GmbH, Health Extension, Gambol Pet Group, Rayne Clinical Nutrition LLC, Vetdiet, iVet Professional Formulas., Wellness Pet Company, Alpo Petfoods Inc.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the therapeutic dog food market in 2023. The regions covered in the therapeutic dog food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Therapeutic Dog Food Market Report Structure
3. Therapeutic Dog Food Market Trends And Strategies
4. Therapeutic Dog Food Market - Macro Economic Scenario
5. Therapeutic Dog Food Market Size And Growth
…..
27. Therapeutic Dog Food Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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