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Therapeutic Dog Food Market Insights: Anticipated $8.66 Billion by 2028 with Key Growth Drivers, Market Segments Analysis, and Competitive Landscape
Therapeutic Dog Food Market
As per the report, 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 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%.
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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.
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.
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
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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.
Contents of the report:
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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