Pet Milk Market

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.

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.  

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. 

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.

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.

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