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Pet Veterinary Diet Market Overview Along with Competitive Landscape, Company Profiles with Product Details and Competitors and Forecast 2024

Pet Veterinary Diet Market is the process of conveying a good quality service to customers. focuses on identifying hidden needs or requirements of customers. Report defines the scope of the Pet Veterinary Diet market, identifying potential of the Pet Veterinary Diet markets and determining optimal pricing for the market, it encouraging potential customers to purchase, and finding the best distribution methods for delivering to customers.

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Market Overview:

  • The pet veterinary diet market was valued at USD 9,540 million in 2018 and is projected to be worth USD 13,130 million by 2024, registering a CAGR of 5.6% during the forecast period. Veterinary diets comprise of animal foods that are specifically formulated to aid in the management of illness and disease of a diagnosed health disorder in an animal. These veterinary diets are formulated to treat a variety of problems in pets, such as itchy skin, digestive issues, obesity, allergies, etc. Pet food manufacturers are increasingly changing their product variants, making them suitable for the wellness of pets, and thus, driving the market studied. Based on various segment types, companies are developing products, in order to cater to the needs of the pet owners, thus, improving the retail sales. The category-wise product development, based on the lifestyle, age, size, and nutrition-specific needs of pets, is being adopted, which is a major driver for the increasing demand for the market studied. The number of people shifting to the vegan diet is growing, so is the popularity of vegan pet food in countries, like the United Kingdom and others. It is not only the vegan owners, who are ensuring the provision of plant-based diets for their pets, but also the non-vegan consumers are purchasing vegan pet food. This bolsters the market for pet veterinary diet in these countries.

    Key Market Trends:

    Increasing Trend of Smaller Families Driving Pet Adoption

    Rapid urbanization in major developing countries across the world has led to the increasing preference of couples to have smaller families. The increasing urban nature of the society, which results in the separation from farm animals and nature, is stimulating the desire to bring pets home. Owing to social comfort, company, security, and the aesthetic sense offered by pets, the trend of pet adoption is augmenting. High standard of living, costly healthcare system, and high educational standards have led to a decline in the number of children and increase in the adoption of pets, such as dogs, cats, and birds. This trend, in turn, is expected to drive the growth of the pet veterinary diet market in the long run. Pet population outnumbers that of children in several countries, such as Brazil and Japan. Pets are being adopted and treated as family members, due to changing demographic trends, such as delayed marriages and lower fertility rates. For instance, the current fertility rate in Brazil is 1.77 children per woman, and is expected to fall to 1.66 children per women by 2060, according to the Brazilian Institute of Geography and Statistics (IBGE). This enhances the demand for pets as well as pet/veterinary products, which, in turn aids the studied market’s growth.

    North America Dominates the Global Market

    According to the American Pet Product Association 2017-2018 Pet Ownership Survey, 68% of the American households own a pet and spend an average of USD 300 annually on pet food and treats. As North America is responsible for 31% of pet food production worldwide, coupled with the huge demand for pet care, this is driving the American pet diet market. The major distribution channels through which the US supplies pet diet are the mass retail stores, pet superstores, online sales, niche specialists, grocery chains, drugstores, and agricultural supply stores. According to the Packaged Facts’ first-quarter 2018 online survey of the United States, pet owners exhibiting the online sales of pet diet is the major driver of the market, contributing to 14% of pet consumers making a purchase within the last seven days and the other 31% in the last 30 days. The US pet diet market is highly concentrated with a few leading players, like Nestle, Mars, Big Heart, Colgate, and Blue Buffalo. Blue Buffalo has made its move into the therapeutic pet food market where Colgate-Palmolive holds a market share of 60% dealing with specific health conditions in pets. Additionally, 16% of US households purchase pet food with pre/probiotic ingredients, thus driving the pet diet market in the United States.

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    Major Key Players are as Follows

  • Mars Inc.
  • Hill’s Pet Nutrition Inc.
  • Nestle SA
  • Nisshin Pet Food
  • WellPet LLC
  • Blue Buffalo Pet Products Inc.
  • iVet Professional Formulas
  • Farmina Pet Foods
  • Forza10 USA
  • The Higgins Group Corp

    Scope of the Report:

  • This report defines the market in terms of end users, who purchase pet food for prescription and non-prescription medicated foods. The end users include pet owners. Companies in the pet veterinary diet market essentially operate in B2C formats.

    Geographical Regions:

    – United States – Canada – Mexico – Germany – United Kingdom – France – Russia – Italy – Spain – China – – Brazil – Argentina – Egypt – South Africa.

    Topics such as sales and sales revenue overview, production market share by product type, capacity and production overview, import, export, and consumption are covered under the development trend section of the Pet Veterinary Diet market report.

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    Reasons to Purchase Pet Veterinary Diet Market Report Covered:

    • The report examines how Pet Veterinary Diet market will develop in the future.
    • Studying various views of the Pet Veterinary Diet market with the help of Porter’s five forces analysis.
    • Analyzing the product type that is probable to control the market and regions that are likely to witness the fastest development during the forecast period
    • Identify the new developments, Pet Veterinary Diet market shares and strategies employed by the key market players.
    • Competitive landscape including the market share of major players along with the key strategies accepted for growth in the past five years
    • Complete company profiles covering the product offerings, key financial information, current developments, SWOT analysis and strategies employed by the major Pet Veterinary Diet market players

    Detailed TOC of Pet Veterinary Diet Market – Growth, Trends, and Forecast (2019 – 2024)

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Drivers
    4.2 Market Restraints
    4.3 Porter’s Five Forces Framework
    4.3.1 Bargaining Power of Suppliers
    4.3.2 Bargaining Power of Buyers
    4.3.3 Threat of New Entrants
    4.3.4 Threat of Substitute Products and Services
    4.3.5 Degree of Competition

    5 MARKET SEGMENTATION
    5.1 Specialty Type
    5.1.1 Urinary tract disease
    5.1.2 Diabetes
    5.1.3 Renal
    5.1.4 Digestive Sensitivity
    5.1.5 Oral Care
    5.1.6 Other Specialty Types
    5.2 Pet Type
    5.2.1 Dog
    5.2.2 Cat
    5.2.3 Birds
    5.2.4 Other Pet Types
    5.3 Geography
    5.3.1 North America
    5.3.1.1 United States
    5.3.1.2 Canada
    5.3.1.3 Mexico
    5.3.1.4 Rest of North America
    5.3.2
    5.3.2.1 Germany
    5.3.2.2 UK
    5.3.2.3 France
    5.3.2.4 Russia
    5.3.2.5 Italy
    5.3.2.6 Spain
    5.3.2.7 Rest of
    5.3.3 Asia-Pacific
    5.3.3.1 China
    5.3.3.2
    5.3.3.3 Rest of Asia-Pacific
    5.3.4 South America
    5.3.4.1 Brazil
    5.3.4.2 Argentina
    5.3.4.3 Rest of South America
    5.3.5 Middle East & Africa
    5.3.5.1 Egypt
    5.3.5.2 South Africa
    5.3.5.3 Rest of Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Most Adopted Strategies
    6.2 Market Share Analysis
    6.3 Company Profiles
    6.3.1 Mars Inc.
    6.3.2 Hill’s Pet Nutrition Inc.
    6.3.3 Nestle SA
    6.3.4 Nisshin Pet Food
    6.3.5 WellPet LLC
    6.3.6 Blue Buffalo Pet Products Inc.
    6.3.7 iVet Professional Formulas
    6.3.8 Farmina Pet Foods
    6.3.9 Forza10 USA
    6.3.10 The Higgins Group Corp

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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    Contact Info:

    Name: Ajay More

    Email: [email protected] 

    Organization: Absolute Reports

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