According to the latest report by IMARC Group, titled, “Pet Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global pet milk market size reached US$ 140.8 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 212.4 Million by 2028, exhibiting a growth rate (CAGR) of 6.8% during 2023-2028.
Pet milk, also known as pet milk replacer or animal milk, is derived from animals such as sheep, cows, goats, and horses. It is a special milk formula exclusively formulated to nourish dogs and cats with essential nutrients such as calcium, vitamins, potassium, magnesium, minerals, and protein. As a result, it helps encourage weight management, boost immunity, improve digestion, prolong the lifespan of pets, and reduce the risk of developing chronic ailments in pets. Nowadays, pet milk is gaining immense popularity among pet owners and is easily available in specialty stores, direct-to-consumers, online, and mass retail stores across the globe.
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Pet Milk Market Trends and Drivers:
The market is primarily driven by the rising adoption of household pets by individuals across the globe. In addition, the growing prevalence of metabolic disorders and the increasing concerns among individuals regarding their pet health is accelerating the adoption of premium-quality pet milk enriched with high animal protein. Moreover, various governing agencies of numerous countries are taking the initiative to encourage the use of healthy and safe ingredients that enhance the overall wellness of pets, representing another major growth-inducing factor. Besides this, the rising number of pet-friendly hotels, restaurants, and cafes (HoReCa) providing pet food is escalating the demand for pet milk. Furthermore, extensive research and development (R&D) activities and the investment by market players in advertising and marketing campaigns to increase overall sales are also creating a positive market outlook.
Pet Milk Market 2023-2028 Competitive Analysis and Segmentation:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Beaphar B.V.
- Fetch For Pets LLC
- Grober Nutrition (Gay Lea Foods Co-operative Limited)
- Manna Pro Products LLC (Compana Pet Brands)
- Mars Incorporated
- Milk Specialties Global
- PBI-Gordon Corporation
- TopLife Formula, etc.
The report has segmented the market based on pet type, product form, and distribution channel.
Pet Type Insights:
Product Form Insights:
Distribution Channel Insights:
- Specialty Stores
- Mass Retail Stores
- Online Stores
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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