Global Market Insights 2024: Small Mammal & Reptile Food Industry Trends

"The Business Research Company recently released a comprehensive report on the Global Small Mammal And Reptile Food Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The small mammal and reptile food market size has grown strongly in recent years. It will grow from $3.59 billion in 2023 to $3.88 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to pet ownership trends, awareness of pet nutrition, veterinary recommendations, humanization of pets.

The small mammal and reptile food market size is expected to see strong growth in the next few years. It will grow to $5.33 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to health and wellness focus, e-commerce growth, customization and personalization, sustainability, regulatory changes. Major trends in the forecast period include premiumization, alternative proteins, convenience, transparency and traceability, and health-specific formulations.

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Market Drivers and Trends:

The increasing spending on animal health is expected to propel the growth of the small mammal and reptile food markets going forward. Animal health refers to the holistic care and management practices aimed at ensuring the well-being and longevity of animals, including pets, livestock, and wildlife. Spending on animal health is increasing due to rising pet ownership, greater demand for animal products, advances in veterinary care, stronger human-animal bonds, and stricter regulations. Higher spending on animal health boosts demand for specialized small mammal and reptile food, spurring innovation, loyalty, vet collaboration, and market growth in the pet care sector. For instance, in March 2023, according to the American Pet Products Association, a US-based not-for-profit industry association, pet foods and treats saw the highest spending at $58.1 billion, marking a significant 16.2% increase, making it the category with the largest growth. Therefore, the increasing spending on animal health is expected to propel the growth of the small mammal and reptile food market.

Companies operating in the small mammal and reptile food market are focused on diversifying their product offerings through alliances to enhance their market presence and cater to broader consumer needs. Alliances are a strategy for expanding a company's range of products or services by forming partnerships or alliances with other businesses. For instance, in May 2021, Phillips Pet Food & Supplies, a US-based pet food and supplies company, partnered with Higgins Premium Pet Foods, a US-based provider of high-quality, natural foods and treats for companion birds, small animals, and reptiles. This partnership aims to distribute Higgins' high-quality, natural foods and treats for companion birds and small animals through Phillips' Texas distribution center. The partnership reflects a commitment to providing pet parents with natural ingredients, supporting the pets' wellness, and nurturing relationships with pet parents that are built on trust.

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Major Key Players of the Market:

Central Garden & Pet Company, Spectrum Brands Holdings Inc., Big Heart Pet Brands, T-Rex Products LLC, Blue Buffalo Company Ltd., Nulo Pet Food Inc., Drs. Foster & Smith, Higgins Group Corp., Fluker Farms, Nutro Products Inc., F.M. Brown's Sons Inc., Pretty Bird International Inc., Timberline Fisheries Inc., Kaytee Products Inc, Oxbow Animal Health, Zoo Med Laboratories, Vitakraft Sunseed Inc., Rolf C. Hagen Inc., Mazuri Exotic Animal Nutrition, Supreme Pet Supplies (UK) Ltd., Lafeber Company, Taiyo Feed Mill Pvt Ltd, HBH Pet Products Inc., Rep-Cal Research Labs Inc., JurassiPet

Small Mammal And Reptile Food Market 2024 Key Insights:

• The small mammal and reptile food market size is expected to see strong growth in the next few years. It will grow to $5.33 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%.
• Animal Health Spending Driving Growth In Small Mammal And Reptile Food Market
• Strategic Alliance Expands Distribution Of Natural Foods In The Small Mammal And Reptile Food Market
• North America was the largest region in the small mammal and reptile food market in 2023

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