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 Billion in 2022. Pet milk, also referred to as animal milk and pet milk replacer, is a specialized milk formula primarily intended for nourishing dogs and cats. It is derived from various animals, such as cows, goats, sheep, and horses. Fortified with essential nutrients like protein, calcium, potassium, magnesium, vitamins, and minerals, pet milk offers numerous benefits pets. This specially formulated milk aids in enhancing digestion, managing weight, and reducing the risk of chronic ailments among pets. By bolstering the immune system, it also contributes to the overall well-being and longevity of pets. In addition to this, pet milk serves as a crucial ingredient in the production of dietary supplements designed for pets, available in various forms including pills, gummies, powders, liquids, and bars. Leading pet milk manufacturers worldwide also offer customized products tailored to suit specific breeds, special needs, age groups, and overall health conditions of pets. This ensures that the animal companions receive the optimal nutrition required for their unique circumstances.
Global Pet Milk Market Trends:
The increasing demand for the product from pet owners seeking suitable milk replacements to meet the dietary needs of their animals represents one of the significant factors driving the growth of the market across the globe. This, coupled with the rising awareness among the pet owners regarding the essential nutrients and energy in pet milk for the growth and development of the pets is acting as a major growth-inducing factor. In line with this, the easy availability of pet milk in grocery stores and supermarkets, along with various online retail channels is contributing to the growth of the market. The market is also driven by the increasing product demand for preparing various pet food products and beverages and bakery goods, such as muffins, cupcakes, cookies, chocolate bars, shakes, ice cream, and candies. The easy availability of and the rising demand for organic product variants is contributing to the market growth. Other factors, such as the increasing demand for premium-quality pet milk, rising disposable income, rapid urbanization, changing lifestyles, effective marketing strategies, and increasing prevalence of metabolic disorders among pets, are creating a positive outlook for the market. Looking forward, the market value is projected to reach US$ 212.4 Billion by 2028, expanding at a CAGR of 6.8% during 2023-2028.
- Based on the pet type, the market has been classified into dog and cat. Currently, the dog holds the largest market share worldwide.
- On the basis of the product form insights, the market has been segregated into power and liquid. Presently, the powder is dominating the largest market share across the globe.
- On the basis of the distribution channel insights, the market has been segmented into specialty stores, mass retail stores, direct-to-consumers, online stores, and others. currently, the specialty stores account for the largest market share worldwide.
- On a geographical front, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Presently, North America is dominating the market share across the world.
- The competitive landscape of the market has also been examined with some of the key players being 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.
|Base Year of the Analysis
|Pet Types Covered
|Product Forms Covered
|Distribution Channels Covered
||Specialty Stores, Mass Retail Stores, Direct-to-Consumers, Online Stores, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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.
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