Pet Obesity Management Market: Global Opportunity Analysis and Industry Forecast, 2019-2027 Market

Excess weight has been related to many clinical and subclinical conditions that put a pet's health at risk. The successful weight management programs extend beyond standard nutritional management and include an understanding of human-animal interaction. The processes and dynamics of human-animal relationships can be a useful tool for practitioners in developing successful treatment plans for their clients. Obesity is said to be a nutritional disorder requiring lifelong management. However, when veterinarians go beyond standard treatment to include an understanding of human-animal interaction, it is also one of the few conditions in veterinary medicine that is completely preventable and curable.

COVID-19 scenario analysis:

The coronavirus pandemic has largely affected the industries adversely. The COVID-19 pandemic cases are because of direct or indirect contact between humans. There is a myth that the animals are anticipated to spread the diseases, which led the people to abandon their pets. Furthermore, COVID-19 has led to a downfall in the supply chain and has created shortage of animal health products such as nutritional feed and the vaccines globally. The animal health industry has been impacted negatively as many manufacturers in animal health industry are left with a significantly reduced workforce. Also, a stringent government policy which restricts the import of raw materials from China is expected to hamper the animal health market.

Healthcare facilities are stocking up the animal related health products, considering the high demand. This is expected to further create financial strain on the market due to locating inefficiencies and wasted speeding.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The major factor affecting the market includes the increase in demand to manage pet obesity due to the surge in population of chronic conditions such as diabetes, and osteoarthritis, which are expected to boost the industry. Furthermore, the steep rise in the cases of pet-obesity related diseases is anticipated to help the market attain maximum growth. The surge in the pet adoption and increase in per capita income levels, which is observed mainly in developing countries, would propel the industry. However, the higher costs for maintaining the animal health may hinder the market growth.

Rise in pet population to flourish the market

According to the American Pet Products Association (APPA), in 2019, sixty-seven percent of U.S. households, or about 85 million families, are anticipated to own a pet.

Furthermore, the North American Pet Health Insurance Association (NAPHIA) reported that the pet health insurance sector for the U.S. and Canada posted a combined gross written premium of $1.42 billion in 2018, up from $1.15 billion in 2017. The total number of pets insured reached 2.43 million at year-end 2018, up by over 17% from 2017.

Surge in mergers and acquisitions to boost the market

In November 2019, one of the universities has partnered with Hill’s on a program exploring nutritional service and education. Collaboration between Hill’s Pet Nutrition and Kansas State University (K-State) emphasizes the value of nutrition and weight management for pets.

In April 2019, Co-op Insurance had partnered with PitPat to offer new policy holders a free ‘doggy Fitbit’, a wearable activity monitor for dogs. Designed to monitor pet’s activity and calories, the PitPat communicates data via smart technology, which enables the policy holder to monitor their pet’s activity. In doing so policy holders will benefit from peace of mind in the knowledge that their dog is getting the exercise it needs. About two-thirds (60%) of vets’ cite obesity as the biggest health and welfare concern for the UK pets, according to the British Veterinary Association.

Key benefits of the report:

• This study presents the analytical depiction of the global pet obesity management industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global pet obesity management market share.
• The current market is quantitatively analyzed to highlight the global pet obesity management market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global pet obesity management market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the pet obesity management market research report:

• Who are the leading market players active in the pet obesity management market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in tasking further strategic steps?

 Pet Obesity Management Market: Global Opportunity Analysis and Industry Forecast, 2019–2027 Report Highlights