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2021
Pet Milk Market

Pet Milk Market

by Pet Type (Dog and Cat), Product Form (Powder and Liquid), and Distribution Channel (Pet Specialty Store, Mass Retail Store, Direct-to-Consumer, E-Commerce, and Others): Global Opportunity Analysis and Industry Forecast 2021-2027

Report Code: A10842
Pages: 264
Apr 2021 | 4090 Views
Author(s) : Aniket K , Roshan D
Tables: 136
Charts: 45
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COVID-19

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The global pet milk market size was valued at $116.3 million in 2019, and is estimated to reach $173.1 million by 2027, registering a CAGR of 6.9% from 2021 to 2027. 

Pet milk, also known as pet milk replacer, is a special milk formula made especially to feed dogs/puppies and cat/kittens. When mother dog or mother cat is not present or not capable of producing milk (colostrum) due to poor health conditions or sometimes if the mother milk is available in insufficient quantity due to high number of litters, then pet milk is used as an alternative. Pet milk replacers become a compulsion in such scenario as it provides neonate dogs and cats sufficient amount of nutrients and proteins required for survival, growth, and development of the neonates.

Global-Pet-Milk-Market

Urbanization, shift toward nuclear families, high disposable income, and awareness regarding health benefits pets are the key factors responsible to propel the global pet milk market during the forecast period. People across the globe love to have pets such as cats and dogs at their home. Moreover, people tend to treat their pets just like a family member, which is called pet humanization. The trend of pet humanization is gaining immense popularity and pet owners have shifted their focus to provide their pets with high quality foods, treats, and other essential accessories. Furthermore, outbreak of the COVID-19 pandemic has led to increase in adoption of pets as people were instructed to be self-isolated at their homes. All these factors are expected to foster growth of the global pet milk market during the forecast period.

The global pet milk industry is significantly affected by birth rates and death rates of the puppies and kittens. The death rate in both puppies and kittens is high and this negatively affects growth of the pet milk market. Further, manufacturers of the pet milk are subjected to follow stringent government norms regarding contents of pet milk. In addition, many strict government regulations hamper growth of the global pet milk market.  

Pet Milk Market
By Pet Type

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Dog segment helds the major share of 50.9% in 2019

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According to the pet milk market analysis, the pet milk market is segmented into pet type, product form, distribution channel, and region. On the basis of pet type, the market is categorized into dog and cat. By product form, it is segregated into powder and liquid. By distribution channel, it is segmented into pet specialty store, mass retail store, direct-to-consumer, e-commerce, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Italy, Russia, Germany, Poland, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, and rest of LAMEA).

According to the pet milk market forecast, on the basis of pet type, the dog segment was the highest contributor to the market, with $59.2 million in 2019, however, growth in popularity of cats as a pet might make both these segments almost equivalent, in terms of revenue, during the forecast period. Dogs are more popular than cats as they are easy to train and can be taught manners and commands easily. However, cats are gaining immense traction in nations such as the U.S., China, Japan, and the UK as owning a cat as a pet involves low cost, less space, and no compulsion of going outdoor for walks. Hence, the revenue generated from the cat segment is expected to become equivalent to the dog segment in the future. 

Pet Milk Market
By Product Form

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Powder segment helds the major share of 74.7% in 2019

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On the basis of product form, the powder segment was the highest contributor to the market, with $86.9 million in 2019, and is estimated to reach $131.3 million by 2027, at a CAGR of 5.0% during the forecast period. The powder segment is the most popular and the leading segment as it is highly preferred by both customers and manufacturers due to its benefits. Powder form of the pet milk requires no refrigeration, it offers convenience in storage and distribution due to its light-weight, offers longer shelf-life, and can be easily stored at room temperature. These factors reduce cost of production. Customers find it very convenient due to its ease of storage and longer shelf-life. Therefore, for these reasons, the powder segment dominates the global pet milk market.  

According to the pet milk market trends, depending on distribution channel, specialty stores are popular among customers to buy pet milk. Easy availability of desired brands and forms of pet milk drives growth of the specialty store segment. Online sale of pet milk through e-commerce is also gaining popularity among customers, owing to proliferation of digital platforms at a global level.

Pet Milk Market
By Distribution Channel

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Specialty Store segment helds the major share of 32.4% in 2019

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Region wise, North America dominated the pet milk market in 2019, and is expected to sustain its dominance throughout the forecast period. The key factors driving the pet milk market growth in the region are high purchasing capacity of majority of the population, high demand for companion animals such as dogs and cats, humanization of pets, and consumer awareness regarding health benefits of owning a pet.

The players operating in the global pet milk market have adopted various developmental strategies to expand their market share, exploit the pet milk market opportunity, and increase profitability in the market. The key players profiled in this report include Pet Ag, Inc., Beaphar, B.V., Grober Nutrition, Inc., Fetch For Pets, LLC, Milk Products, Inc., Manna Pro Products, LLC, Petlife International Ltd., Royal Canin U.S.A., Inc., Toplife Formula Pvt. Ltd., and Versele-Laga, N.V.

Pet Milk Market
By Region

2027
North America 
Europe
Asia Pacific
LAMEA

North America region helds the higest market share of 37.8% in 2019

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Key Benefits For Stakeholders

  • The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size and segmentation assist to determine the prevailing pet milk market opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the pet milk industry.

Pet Milk Market Report Highlights

Aspects Details
By Product Form
  • Powder
  • Liquid
By Distribution Channel
  • Specialty Store
  • Mass Retail Store
  • Direct-to-consumer
  • E-Commerce
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, France, Italy, Russia, Germany, Poland, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Argentina, South Africa, Rest of LAMEA)
Key Market Players TOPLIFE FORMULA PVT. LTD., MANNA PRO PRODUCTS, LLC, VERSELE-LAGA, N.V., BEAPHAR B.V., PET AG, INC., GROBER NUTRITION, INC., PETLIFE INTERNATIONAL, LTD., MILK PRODUCTS, INC., ROYAL CANIN U.S.A., INC, FETCH FOR PETS, LLC.
 

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Pet milk or pet milk replacers are used to feed newborn puppies and kittens if milk from mother is not available. Pet milk is specially formulated to provide essential nutrients and proteins for survival and growth of neonate dogs and cats. The pet milk market is profitable, owing to absence of substitutes. Rise in trend of pet humanization, rapid urbanization, shift toward nuclear families, high disposable income, and awareness related to health benefits of owning pets are the major factors that propel the market growth. Mostly, young couples and old-aged people tend to pet a companion animal according to their convenience. Elderly persons are benefitted in terms of health such as reduced stress and anxiety, reduced blood pressure and cholesterol levels, and healthy heart by having a companion pet. All these factors are indirectly responsible for growth of the global pet milk market.

E-commerce distribution channel is expected to boost the global pet milk market, owing to rise in popularity of e-commerce among customers and proliferation of digital platforms at a global level. Moreover, the pet adoption rate has increased during the COVID-19 pandemic as people were instructed to stay at homes to follow the self-isolation norms. During such situations people were in need of companions or pets such as dogs and cats. This increased demand for pet milk and other pet foods. Revenue of the entire pet food industry witnessed a surge due to e-commerce as all physical stores were shut down during the lockdown period.  

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FREQUENTLY ASKED QUESTIONS?

A. The global pet milk market size was valued at $116.3 million in 2019, and is estimated to reach $173.1 million by 2027, registering a CAGR of 6.9% from 2021 to 2027 due to increasing trend of pet adoption along with the growing global pet population, rapid urbanization, and shift toward nuclear family.

A. The global pet milk market size is estimated to reach $173.1 million by 2027, registering a CAGR of 6.9% from 2021 to 2027. The growing trend of pet humanization, rapid urbanization, shift toward nuclear family, growing adoption of pets, growing pet population, and rising disposable income are the factors boosting the growth of the pet milk market globally.

A. The growing trend of pet humanization, rapid urbanization, shift toward nuclear family, growing adoption of pets, growing pet population, awareness regarding health benefits of owning pets, and rising disposable income are the top impacting factors boosting the growth of the pet milk market globally.

A. The players operating in the global pet milk market have adopted various developmental strategies to expand their market share, exploit the pet milk market opportunity, and increase profitability in the market. The key players operating in the global pet milk market include Pet Ag, Inc., Beaphar, B.V., Grober Nutrition, Inc., Fetch For Pets, LLC, Milk Products, Inc., Manna Pro Products, LLC, Petlife International Ltd., Royal Canin U.S.A., Inc., Toplife Formula Pvt. Ltd., and Versele-Laga, N.V.

A. According to the pet milk market analysis, the pet milk market is segmented into pet type, product form, distribution channel, and region. On the basis of pet type, the market is categorized into dog and cat. By product form, it is segregated into powder and liquid. By distribution channel, it is segmented into pet specialty store, mass retail store, direct-to-consumer, e-commerce, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Italy, Russia, Germany, Poland, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, and rest of LAMEA).

A. The players operating in the global pet milk market have adopted various developmental strategies to expand their market share, exploit the pet milk market opportunity, and increase profitability in the market. The key strategies include new product launch and development of online sales channel (E-Commerce).

A. By pet type, cat segment is expected to exhibit the highest CAGR. Cats are gaining immense traction as pets in nations such as the U.S., China, Japan, and the UK as owning a cat as a pet involves low cost, less space, and no compulsion of going outdoor for walks. The revenue generated from the cat segment is expected to become equivalent to the dog segment in the future.

A. The outbreak of the COVID-19 pandemic has led to increase in adoption of pets as people were instructed to be self-isolated at their homes and having companion animals has a positive effect on the mental health. The overall impact of the COVID-19 on the global pet milk market was positive due to the increased adoption of pets during the lockdown and development of e-commerce platforms that boosted the supply of the pet milk during the crisis.

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