PET CARE PRODUCTS MARKET ANALYSIS

Market Challenges And Opportunities

Market Dynamics

Some of the major driving factors for growth of the pet care products market are increasing awareness of pet ownership, rising focus of owners on weight management of the pets, and increasing demand for ancillary pet products. One of the major concern of pet owners is obesity of their pet, which is expected to boost demand for therapeutic products for dogs, cats, and other pets. In India, Scientific Remedies introduced the world’s first therapeutic pet food, Hill’s, which deals with nutritional management of the animals. According to the Association for Pet Obesity Prevention, 54% of dogs and 59% of cats in the U.S. suffered from overweight or obesity in 2016, which is expected to increase sales of therapeutic dog and cat food, and calorie-controlled products. According to the Association for Pet Obesity Prevention, the sales in North America for therapeutic product grew by almost 20% from 2012 to 2017. Other factors such as pet owners spending on ancillary pet products such as shampoos, pet spa, pet accessories, and other products is expected to fuel growth of the pet care products market. According to the American Feed Industry Association, the global spending on pet care in 2016 was valued at over US$ 100 billion and is expected to increase significantly, in the near future with growing diet controlled pet foods and hygiene.