Pet milk replacement products are healthy alternatives for puppies & kittens, who are deprived of milk from their mother due to high litter number, or illness of the mother. Dog and cat cafes and non-profit organizations across the globe are taking initiatives to give shelter to such puppies & kittens. At such places, orphaned, and nursing puppies & kittens are fed milk replacement products, in order to fulfill their nutritional requirements. Rising awareness of animal health has resulted in increasing number of initiatives towards helping orphaned puppies and kittens, which is expected to drive growth of the pet milk replacement products market over the forecast period. Market is expected to reach US$ 189.5 million by the end of 2030, exhibiting a CAGR of 5.9% over the forecast period. This is attributed to rising awareness about pet health products among pet owners. Growth in pet food industry is also expected to drive growth of the pet milk replacement products market. For instance, according to a report published by Rain Walk Pet Insurance Institute, U.S citizens spend so much that the overall pet expenditure increased by US$ 7Million between 2018 and 2019, with a record-breaking high of US$ 123.6 Million spent on pets in 2021. In U.S. pet food is the highest-selling pet market product category with US$ 50 Million spent in 2021.
Global pet milk replacement products market was valued at US$ 113.2 Million in 2021 in terms of revenue, exhibiting a CAGR of 5.9% during the forecast period (2022 to 2030).
Pet humanization has been largely driven by millennials, and the pandemic has further boosted pet adoption rates among home-bound individuals. As per reports presented by Rainwalk Pet Insurance around 70% of U.S. households reported that they owned at least one pet. Dogs are the most common pets in the U.S, with nearly 70 million households having one. With 72% of all families keeping pets. Millennials have the highest percentage of 32% of pet ownership in the United States. With rising pet adoption rates, sales of pet accessories and pet food have risen exponentially. The trend is anticipated to continue throughout the forecast period, further fostering sales of pet milk replacers. Milk replacement products such as powdered or liquid milk provide a healthy option for nourishment of puppies and kittens.
Among regions, North America held highest market share around 31.7% of pet milk replacement products market in 2021 and is expected to keep its dominance during the forecast period, owing to adoption of large number of pets in the U.S. and Canada. Cats come in second place with 45 million families owning at least one, followed by freshwater fish and birds.
Figure 1. Global Pet Milk Replacement Products Market Value Share (%), By Region, 2021
High cost of pet milk replacement products is expected to restrain market growth over the forecast period. Cost of pet milk replacement products depends on the ingredients that are used to formulate the final product. For instance, addition of other supplements such as prebiotics and vitamins, in order to increase nutritional value of the product along with milk solids, increases the final cost of pet milk replacement products. Moreover, continuous monitoring of product quality is required to produce contamination-free products. This requires sophisticated analytical instruments for testing quality of in-process and final product, which increases the overall production cost of pet milk replacement products. The high cost associated with pet replacement products is expected to hamper growth of market.
|Base Year:||2021||Market Size in 2022:||113.2 Mn|
|Historical Data for:||2017-2020||Forecast Period:||2022|
|Forecast Period 2022 to 2030 CAGR:||5.9%||2030 Value Projection:||2022-2030|
Pet-Ag, Inc., The Hartz Mountain Corporation, Beaphar B.V., Petlife International Ltd., Royal Canin, Toplife Formula, GNC Holdings Inc., Grober Nutrition Inc, Versele-laga, and Manna Pro Products LLC.
|Restraints & Challenges:||
Trends such as glutton-free diet and veganism are influencing consumer preferences towards pet milk replacement products. Additionally, demand for clean-label ingredients containing food products is increasing across the globe and the same is being applied to pet food items. Pet adapters are increasingly seeking sustainable pet food ingredients that have the least impact on the environment further driving demand for pet milk replacers in market.
Figure 2. Global Pet Milk Replacement Products Market Value Share (%), By Pet Types, 2021
Among pet types, puppies segment accounted for the largest market share of 56.9% in 2021, in global pet milk replacement products market. Milk replacement products for puppies contain all the necessary nutrients and can mimic the mother dog’s milk in protein, fat, carbohydrates and energy. Milk replacement products are also used for supplemental feeding of puppies who are skinny, and undergoing stress, and need a source of highly digestible nutrients.
Global Pet Milk Replacement Products Market - Impact of Coronavirus (COVID-19) Pandemic
Market was negatively impacted by the effect of COVID-19 pandemic. Major manufacturers such as Pet-Ag, Inc.The Hartz Mountain Corporation, Beaphar B.V., Petlife International Ltd., and Royal Canin in the pet milk replacement products market have their manufacturing & supply chain bases across the globe. These players had halted production of pet milk replacement products in first and second wave of COVID 19 due to lowered demand, lockdown measures, supply chain bottlenecks, and to protect the safety of their employees.
Major players operating in the global pet milk replacement products market include Pet-Ag, Inc., The Hartz Mountain Corporation, Beaphar B.V., Petlife International Ltd., Royal Canin, Toplife Formula, GNC Holdings Inc., Grober Nutrition Inc, Versele-laga, and Manna Pro Products LLC.
Mother milk is one of the important factors that is necessary for maintaining good health in early days of both puppies and kittens after their birth. Milk replacement products such as powdered or liquid milk, which are derived from other mammalian sources such as goat or cow provide a healthy option for nourishment of puppies and kittens. These products are supplemented with necessary nutrients required by puppies and kittens such as protein, vitamins, and calcium. The nutritional benefits offered by pet milk replacement products are expected to drive growth of market over the forecast period.
The composition of pet milk replacers such as amount of milk solids and the type & quantity of proteins & fat contents are regulated by various guidelines given by the Association of American Feed Control Officials (AAFCO), National Research Council (NRC), and European Pet Food Industry Federation (FEDIAF) among others. For instance, NRC is a council organized by the US National Academy of Sciences. The NRC ad hoc Committee on dog and cat nutrition set the nutritional requirements for dogs and cats in 2006. Pet milk replacement products have to comply with these requirements in order to ensure quality of the product.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section