Global Pet Milk Replacement Products Market
Pet milk replacement products are healthy alternatives to pet milk for pet animals, such as dogs and kittens that are deprived of their mothers’ milk, due to the mother’s illness or a large number of babies. Pet cafes and non-profit organizations across the globe are said to be taking various initiatives in order to provide shelter to the abandoned or orphaned pets, where they are fed milk replacement products so as to keep them fit and healthy. Rising awareness of animal health has led to a significantly higher number of initiatives towards helping orphaned pets, which in turn, is expected to drive the growth of the global pet milk replacement products market in the near future.
The global pet milk replacement products market is estimated to reach US$ 156.4 million over the forecast period, exhibiting a robust CAGR of 5.7%.
The global market growth gains momentum due to the booming pet food industry. As per a report published by the FEDIAF in 2018, the annual growth rate of the pet food industry was valued to be 2.5% in Europe. Moreover, mother’s milk is considered crucial for maintaining the good health of pets after their birth. In a study titled ‘Monitoring of the newborn dog and prediction of neonatal mortality’, published by the Preventive Veterinary Medicine in August 2017, the mortality rate of puppies is higher owing to the absence of necessary care and nutrition. Several milk replacement products, such as powdered or liquid milk, serve as healthy options for the nourishment of puppies and kittens.
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The different types of ingredients used in pet milk formulations determine the costs of pet milk replacement products. For instance, addition of other important supplements, such as prebiotics and vitamins, for increased nutritional value of the products, increase the final cost of the pet milk replacement products.
Among regions, North America led the global pet milk replacement products market, accounting for a share of around 31.7% in 2018. Market growth in this region is accredited to the adoption of a large number of pets in the U.S. and Canada. According to the Humane Society of the United States, around 4 million cats and dogs are adopted from pet foster homes each year.
Among the various categories of pets, the puppies segment accounted for the largest market share of 56.9% in 2018. Milk replacement products for puppies are known to contain the necessary nutrients, including protein, fat, carbohydrates and energy, essential for the health of puppies, especially the ones that are skinny, undergoing stress, or are in dire need of important nutrients.
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The leading players operating in the global pet milk replacement products market 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. These companies are actively engaged in various growth strategies, such as mergers & acquisitions, reinforce their market presence. For instance, in July 2019, Manna Pro Products LLC acquired Hero Pet Brands, a company that manufactures puppy pads, flea and tick treatment, pet food, and other pet products to strengthen its product portfolio in the milk replacement products market.
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