The increasing public concern for the welfare of pets has led to notable trends in the Pet Obesity Market. This market aims at curbing pet obesity, a growing concern that results from the increase in pet ownership and changing lifestyles. Among the various factors such as nutrition, exercise and health care practices several key trends have appeared in the Pet Obesity Market.
One important trend in this market is increased awareness about health dangers related to pet obesity. The owners of pets are now aware that excessive weight poses risks to their animals and therefore they are enrolling them into different preventive measures and treatment options. As more people understand about matters pertaining to obesity among pets, there is more emphasis on preventive measures such as proper nutrition, regular physical activities and veterinary check-ups focusing on weight control and general wellness.
Moreover, there is a change of formulations for pet food in order to make it specialized nutritionally balanced diets are being sought after by consumers who also seek high-quality commercial brands with weight management features for their overweight or obese animals. Additionally, this trend relates to a more widespread awareness regarding diet’s role, which leads pet food manufactures into innovating ways of developing products that meet nutritional needs of animals at risk of becoming obese.
Furthermore, technological improvements have impacted the Pet Obesity Market by bringing wearable gadgets and smart technologies aimed at tracking activity levels together with overall well-being among other things. These devices enable pet owners to monitor how often their pets move around, how many calories they burn each day or even track them down if they get lost somewhere outside home through real-time data feedback systems established on these devices. The employment of technology in animal health care also helps identify excess body fat early enough as well as promoting proactivity among owners towards nurturing healthy pets.
There has been an increase in development of weight loss supplements and drugs specific for companion animals within Pet Obesity Market. In addition to helping cut down weight these commodities help maintain good health thereby giving pet owners an additional means of addressing obesity-related issues. As such, vets are more frequently including supplements in their patients’ weight management regimens, for holistic animal health by good nutrition, exercise and supplementation where necessary.
At the same time, this market is witnessing collaboration between pet owners, veterinarians and other pet care providers to combat pet obesity. This includes campaigns that raise awareness, education and community programs which address pet owners about the dangers of obesity while promoting healthy lifestyles for pets as well as regular visits to a doctor’s office to check the weight. The cooperative approach intends to create conducive conditions for Pet Owners so that they can understand choices on what their animals should eat for proper well-being.
Nevertheless, Pet Obesity Market still struggles with some challenges. Some of these include noncompliance by pet owners, misconceptions about ideal body condition of animals and constant availability of high-calorie treats. Moreover, there are different types of pets suffering from obesity epidemic i.e., dogs; cats; small mammals which have different dietary requirements and lifestyle patterns thus making it hard for the market to address them all at once.
The Pet Obesity Market Size was valued at USD 0.92 billion in 2022 and is projected to grow from USD 0.99 billion in 2023 to USD 1.87 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.28% during the forecast period (2023 - 2032). The growing pet population, rising demand for healthier pet lifestyles, and the rising incidence of pet obesity are projected to contribute to market growth in the coming years. Pet owners are increasingly aware of the risks posed by pet obesity and are willing to invest time and money towards large-scale health initiatives for their furry friends.
Figure 2: Pet Obesity Market Size, 2019 to 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Pet adoption is predicted to increase globally, boosting market growth throughout the forecast period. According to the American Pet Products Association's (APPA) 2021-2022 National Pet Owners Survey, 70% of American homes, or around 90.5 million families, owned a pet. Increased pet ownership and per capita income among individuals, particularly in emerging countries, will most certainly accelerate the growth of this industry. The North American Pet Health Insurance Association (NAPHIA) estimates that gross written premiums for pet health insurance in the US reached USD 1.99 billion in 2020, up 27.5% from USD 1.56 billion in 2019. From 2016 to 2020, the market increased at a pace of roughly 24.2% each year. As a result, this is anticipated to contribute to market growth.
The market segments of Pet Obesity, based on product type, includes blended diets, functional treats, weight loss diet, food supplements, and others. The food supplements segment held the majority share in 2022 in the Pet Obesity Market revenue. For obesity control, pet owners choose dietary additives and exercise over medicines. The growing demand for healthy, organic, and nutritious food items is expected to drive category expansion even further. Consumers are paying more for excellent pet meals as their lives change.
November 2021: Layn Natural Components announced their TruGro weight management solution, which is comprised completely of plant-based components and is aimed to help pets maintain a healthy weight.
The Pet Obesity Market segmentation based on animal type includes dogs, cats, horses, and other companion animals. The dogs segment dominated the market in 2022. Dog ownership has surged in wealthy countries. Germans, for instance, had 34.9 million dogs in 2021, according to Interzoo Exhibition Centre data updated in April 2021. During the forecast period, the high number of dogs as pets is predicted to boost the expansion of the segment.
Figure 2: Pet Obesity Market, By Animal Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Market segmentation of Pet Obesity based on distribution channel includes online retail, veterinary clinics, Petcare stores, and others. The Petcare stores segment dominated the market in 2022 and held the online retail segment is expected to grow the fastest during the forecast period. Many portals provide things at reduced pricing. Furthermore, increased smartphone penetration and internet connectivity to remote places in developing economies such as India and China are expected to expand the use of online retail platforms.
By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. The North America pet obesity market is expected to account for USD 0.49 billion in 2022 and is expected to exhibit a 5.12% CAGR during the study period. Insurance policies that are favorable are also predicted to increase the market's potential. Increased concern among pet owners about the dangers of obesity is increasing demand for efficient weight control programs, helping to the market's rise. Obesity has affected one-fourth of the canine population in the region, according to an article published in VCA Animal Hospital, resulting in a boom in the adoption of pet obesity control techniques and plans. Obesity is also listed as the most common avoidable ailment in dogs and cats in North America. Obesity affects 25-30% of the dog population, with 40-45% of dogs aged 5-11 years overweight.
Further, the major countries studied are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: PET OBESITY MARKET SHARE BY REGION 2022 & 2032 (USD BILLION)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe pet obesity market is expected to account for the second-largest market share due to the presence of leading pet care companies, pet hospitals and clinics, and medical centers that provide as a firm foundation for finding and developing food supplements and drugs. The well-developed healthcare industry, as well as the prevalence of pet obesity in economies such as the UK, Germany, Romania, France, and Portugal, are significant driving factors in the market. Further, the Germany market of pet obesity is expected to hold third place for the market share, and the UK market of pet obesity is expected to fastest-growing market, and which is in the 4th place in the European region. Furthermore, France market of pet obesity will hold the 5th place for the market share.
The Asia-Pacific pet obesity market is expected to have the fastest growth rate from 2023 to 2032. This increase can be attributed to rising pet adoption in emerging economies such as India, which is one of the most profitable markets due to government initiatives to expand veterinary healthcare facilities and different funding initiatives provided by both the national and state governments. Moreover, China market of pet obesity is expected to hold the largest market share, and the India market of pet obesity is expected fastest-growing market in the Asia-Pacific region.
The Rest of the World includes the Middle East, Africa, and Latin America. Growing adoption of pets and increase pet obesity in the region contribute to the growth of the rest of the world market of pet obesity.
Pet Obesity Key Market Players & Competitive Insights
The industry is very competitive, with numerous small and large-scale players. Royal Canin (France), Hills Pet Nutrition, Inc. (US), and Pedigree (US) are among the leading firms in the global market. To gain a larger market share, these companies concentrate on new product development and distribution channel expansion. They are inclined to maintain intense rivalry by meeting unmet demands with inexpensive items. They are also constantly attempting to increase their profits through mergers and acquisitions, geographical growth, and other means.
One of the primary business strategies adopted by manufacturers in the global pet obesity industry to benefit clients and expand the market sector of pet obesity sector is to manufacture locally to reduce operating costs.
Merck Animal Health is a subsidiary of Merck & Co., Inc., and is a global biopharmaceutical company that develops prescription medicines, vaccines, biologic therapies, and animal health products. It operates in more than 140 countries to deliver innovative health solutions. The company operates through pharmaceutical, animal health, and healthcare services segments. The pharmaceutical segment includes human health pharmaceuticals and vaccine products. The animal health segment discovers, develops, manufactures, and markets products such as pharmaceuticals and vaccines to prevent, treat, and control diseases in livestock and companion animal species, which are sold to veterinarians, distributors, and animal producers by the company.
Moreover, Chanelle Pharma is Ireland's largest indigenous generic pharmaceutical manufacturer of medical and veterinary products. The company is a partner of choice in developing and manufacturing pharmaceutical products for many human generic and animal health multinationals and distributors. It has three manufacturing facilities and five R&D laboratories. Chanelle Pharma Group won Ireland's 2018 Pharma Company of the Year and Industry Company of the Year awards. It holds over 1,900 product licenses for human health products worldwide and 3,500 for animal health. Its key markets include Europe, Australia, New Zealand, Japan, South Africa, the Middle East, and the US.
Key Companies in the market of Pet Obesity includes
Pet Obesity Industry Developments
May 2021: Chanelle Pharma expanded its distribution and manufacturing operations in Ireland. The company relocated its Chanelle Pet distribution business from Loughrea to IDA Ireland's Business and Technology Park in Ballinasloe.
May 2022: Park Vet Group established the Veterinary Nursing Awareness campaign to raise awareness of the value of veterinary nursing and pet nutrition balancing.
January 2022: Alton Brown teamed up with Hill's Pet Nutrition (US) to fight pet obesity. The company shared new research findings to help improve this effort by providing free education, tools, and resources to pet owners.
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)