Increased adoption of dogs for companionship contributes to the growth of the therapeutic dog food market
NEW YORK, US, November 26, 2021 / EINPresswire.com/ – According to the latest market research study from The Insight Partners on “Therapeutic Dog Food Market Forecast to 2028 – Impact of COVID-19 and Global Analysis – by Type and Substance Type, Expected to reach The market will reach $8,949.52 million by 2028 from $6,095.70 million in 2021; it is expected to grow at a CAGR of 5.6% from 2021 to 2028.
Report coverage (details)
Market Size Value ($6,095.70 Million in 2021)
Market Size Value (8,949.52 Million USD by 2028)
Growth rate (5.6% CAGR from 2021 to 2028)
Forecast period (2021 – 2027)
Base year (2021)
number of pages (148)
number of tables (55)
Sectors covered (by product, application, and geography)
Regional Scope (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Country Range (US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina)
Report coverage (revenue forecast, company ranking, competitive landscape, growth factors, and trends)
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Therapeutic dog food has been specifically formulated to help manage various ailments and ailments. These diets are also prescribed in the treatment of itchy skin, digestive problems, obesity, allergies, heat diseases, and others. Pet food manufacturers are increasingly changing the types of their products, making them suitable for the health of pets.
Increased adoption of dogs for companionship to drive growth of the therapeutic dog food market
Dogs are a suitable companion for humans because they have a huge impact on the life of their owner. They promote an active lifestyle and can detect upcoming epileptic seizures long before they actually occur. Pets help with the social, emotional, and cognitive development of children, as well as helping adults relieve stress and anxiety. Research studies have shown that dog owners are 36% less likely to die from cardiovascular disease and 11% less likely to have a heart attack. According to the 2019-2020 American Pet Products Association survey, about 63.4 million households own at least one dog in the United States. Also, according to FEDIAF, the body that represents the European pet food industry, dogs are growing in popularity in the region; The number of pet dogs in the European Union increased from 63.7 million in 2016 to 66.4 million in 2017. According to the 2019 Animal Welfare (PAW) report from the People’s Dispensary for Sick Animals (PDSA), around 50% of the UK population owns a pet, It has an estimated population of 9.9 million pet dogs. 26% of adults in the country own a dog. Thus, the growing preference for dogs as companions is fueling the growth of the therapeutic dog food market.
The increasing prevalence of chronic diseases among dogs contributes significantly to the growth of the therapeutic dog food market
Similar to humans, animals also suffer from chronic diseases. It is common to detect arthritis, chronic kidney disease, cancer, hepatitis and other liver diseases, skin allergies, and diabetes as chronic diseases in pets. Cancer spreads in animals and affects dogs as well. According to the Veterinary Cancer Society, the disease is a leading cause of death in 47% of dogs, especially dogs over 10 years of age. Furthermore, according to pet cancer facts and figures, one in four dogs will develop cancer in their lifetime. According to the Association for Pet Obesity Prevention (APOP), about 55.8% of dogs in the United States were overweight or obese in 2018. The Arthritis Foundation says about 20% of adult dogs have arthritis. Such an increasing prevalence of chronic medical conditions has become a major concern among dog owners, underscoring the demand for appropriate care. Thus, with the high prevalence of chronic medical conditions in dogs, companies are focusing on providing advanced therapeutic nutritional products to help dog owners maintain the overall health of their pets.
Impacts of COVID-19 on the therapeutic dog food market
COVID-19 first started in Wuhan (China) during December 2019 and since then has spread at a rapid pace across the world. The United States, India, Brazil, Russia, France, the United Kingdom, Turkey, Italy and Spain are among the hardest-hit countries in terms of confirmed cases and reported deaths. The COVID-19 virus has affected economies and industries in various countries due to lockdowns, travel bans and business closures.
Get the latest COVID-19 analysis on the therapeutic dog food market at: https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00023444
On the basis of product type, the global therapeutic dog food market is segmented into dry food, wet/canned food, snacks/desserts, and others. In 2020, the dry food segment captured the largest share of the market. Moreover, the snacks/confectionery segment is expected to register the highest compound annual growth rate (CAGR) in the market during the period 2021-2028. Dry foods are considered beneficial for their dental health.
Therapeutic Dog Food Market: Competitive Landscape and Key Developments
Mars, Incorporated; Nestle. Hill’s Pet Nutrition, Inc. J.M. Smucker Company; GENERAL MILLS ANIMONDA CO. Darwin House SCHELL & KAMPETER, INC.; AFFINITY PETCARE SA; Bevar. And WellPet is among the major companies operating in the therapeutic dog food market.
Order a copy of Therapeutic Dog Food Market Research Report 2021-2028 Size, Strategies and Forecast at: https://www.theinsightpartners.com/buy/TIPRE00023444/
In July 2021, General Mills acquired Tyson Food’s pet company for $1.2 billion in cash. The business, which includes the Nudges, Top Chews and True Chews product categories, is a leader in the natural pet meat processing industry.
In August 2021, WellPet, LLC announced several new pet food and therapy products, including puppy, kitten and senior pet formulas.
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Therapeutic dog food market is growing at a compound annual growth rate of 5.6% – Insight Partners say