Dublin, May 16, 2024 (GLOBE NEWSWIRE) -- The "Pet Obesity Management Market Size, Share & Trends Analysis Report By Product (Therapeutic Food, Supplements), By Animal Type (Dogs, Cats, Other Animals), By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global pet obesity management market size is anticipated to reach USD 14.5 billion by 2030 and is anticipated to expand at a CAGR of 5.94% during the forecast period. The market growth is attributed to the rising pet obesity globally. For example, in the U.S., in 2022, 61% of cats and 59% of dogs were overweight or obese, according to the Association for Pet Obesity Prevention (APOP). As more and more households choose to adopt a pet to improve their quality of life, the number of pets has grown dramatically over the past few years. For example, the Global Animal Health Association estimates that there are about 85 million dogs in the U.S. alone. According to this association, families in the U.S., Europe, and China own around half a billion dogs and cats. Compared to 68% in 2016, 70% of households had a pet as of 2021. 
Comparably, between 2020 and 2022, the country's dog and feline populations significantly increased, according to the Canadian Animal Health Institute (CAHI). The number of cats increased from 8.1 to 8.5 million. The yearly medicalization rate for dogs was steady at 86%, according to 2022 CAHI estimates, while the medicalization rate for cats increased by almost 3%. This showed that between 2020 and 2022, more pet cats were taken to the veterinarian. Hence, as the percentage of pet owners increases, so does the need for the treatment of various illnesses, such as obesity. This is because a majority of pet owners are worried about the health of their animals and want better treatment outcomes, which is driving market growth. Furthermore, a European study published in 2018 stated that upon estimation of Body Mass Index (BMI), 32% of the dogs in the study were overweight or obese, 62% were of a normal weight, and 6% of the dogs were underweight.
The Body Fat Index (BFI) chart showed that 56% of the dogs were overweight or obese, however, the owners' assessment of the dogs' Body Condition Scores (BCS) indicated that 22% of the dogs were overweight or obese. In October 2022, Pinnacle Pet Group acquired Crum & Forster Pet Insurance Group's operations in the UK, which included Pet Protect and VioVet. Furthermore, in August 2022, Nestle India acquired Purina Petcare's dog and cat food business, integrating Purina Petcare India into Nestle India. The move brought the two entities together, with Purina Petcare India, specializing in importing products, including the addition of wet cat foods under the Fancy Feast brand. Such undertakings will facilitate the deep penetration of pet obesity management products, driving lucrative growth of the market.
Market expansion initiatives as well as new product launches are key growth-drivers. For example, in August 2023, Mars Inc. invested Rs 800 (USD 95.94 million) crore for the phase-II expansion of its Telangana plant, Mars Petcare, which produces popular pet food brands like Pedigree and Whiskers, with a previous investment of Rs 200 crore (USD 23.98 million). The Telangana government and Mars Inc. have formed a comprehensive partnership to enhance initiatives focused on pet care and nutrition in India. Furthermore, India's leading market player, Drools Pet Food Pvt. Ltd., launched two groundbreaking initiatives in October 2023, aimed at revolutionizing pet health services and veterinary practices nationwide. The first initiative, "Drools Vet Thrive," is a visionary plan to enhance veterinary hospitals, elevating pet healthcare services.
Pet Obesity Management Market Report Highlights
- The therapeutic food segment dominated the market with a share of more than 89.49% in 2023 owing to the ever-increasing population of pets globally, increased prevalence of pet obesity, high palatability, and supportive initiatives undertaken by industry players, as well as governmental & nongovernmental organizations
- The dogs segment is expected to grow at the fastest CAGR over the forecast period
- The E-commerce segment held the largest market share of 45.83% in 2023 and is expected to register the fastest CAGR from 2024 to 2030
- A consistent rise in pet ownership rates, increasing aging pet population, growing startup culture, and rise in pet expenditure contribute to market growth
- North America dominated the global industry in 2023 owing to factors, such as the high prevalence of obesity in dogs & cats, a high number of public-private partnerships, overfeeding of pets by owners, and rising awareness among pet parents concerning the importance of animal care
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 140 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $9.58 Billion |
| Forecasted Market Value (USD) by 2030 | $14.5 Billion |
| Compound Annual Growth Rate | 5.9% |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Pet obesity management Industry Outlook
3.1. Market Lineage Outlook
3.1.1. Parent Market
3.1.2. Ancillary Market
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.1.1. Rise In Global Prevalence of Obesity In Pets
3.2.1.2. Rise In Pet Insurance Coverage
3.2.1.3. Ever Increasing Population Of Pets Globally
3.2.1.4. Supportive Initiatives
3.2.2. Market Restraint Analysis
3.2.2.1. Dearth of Skilled Veterinarians
3.2.2.2. Lack of Precise Regulations
3.2.3. Market Opportunity Analysis
3.2.4. Market Challenge Analysis
3.3. Pet obesity management Market Analysis Tools
3.4. Estimated Obesity Prevalence Statistics by Key Species, 2023
3.5. Pricing Analysis
3.6. Estimated Animal Population, by key species & key countries, 2023
3.7. COVID-19 Impact Analysis
Chapter 4. Pet obesity management Market: Animal Type Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Global Pet obesity management Market: Animal type Movement Analysis
4.3. Global Pet obesity management Market Size & Trend Analysis, by animal type, 2018 to 2030 (USD Million)
4.4. Dogs
4.5. Cats
4.6. Other Animals
Chapter 5. Pet obesity management Market: Product Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Global Pet obesity management Market: Product Movement Analysis
5.3. Global Pet obesity management Market Size & Trend Analysis, by Product, 2018 to 2030 (USD Million)
5.3.1. Therapeutic Food
5.3.2. Supplements
Chapter 6. Pet obesity management Market: Distribution Channel Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Global Pet obesity management Market: Distribution Channel Movement Analysis
6.3. Global Pet obesity management Market Size & Trend Analysis, by Distribution Channel, 2018 to 2030 (USD Million)
6.3.1. Pet Specialty Stores
6.3.1.1. Therapeutic Food Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.3.2. E-Commerce
Chapter 7. Pet obesity management Market: Regional Estimates & Trend Analysis
7.1. Regional Dashboard
7.2. Pet obesity management Market Share, By Region, 2023 & 2030, USD Million
Chapter 8. Competitive Landscape
8.1. Market Participant Categorization
8.2. Company Market Position Analysis/ Heap Map Analysis
8.3. Company Profiles
- Mars Incorporated
- Hill's Pet Nutrition, Inc.
- Nestle S.A
- Drools Pet Food Pvt. Ltd.
- Farmina Pet Foods
- NOW Foods
- Virbac
- VioVet Ltd
- Rolf C. Hagen, Inc.
- Dechra
- Vivaldis Health & Foods
- ProBalance
- Masterpet Australia Pty Ltd.
- Neogen Corporation
For more information about this report visit https://www.researchandmarkets.com/r/m49it9
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
