Worldwide Pet Obesity Management Industry to 2027 - Increasing Demand for Drugs and Pet Insurance Policies is Driving Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Pet Obesity Management Market- Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.

The Pet Obesity Management Market is projected to register a CAGR of 6.80% during the forecast period (2022-2027).

Companies Mentioned

• Royal Canin
• Hills Pet Nutrition, Inc.
• Pedigree
• Pfizer animal health
• KONG Company
• Vivaldis
• Park Vet Group
• Auxthera LLC
• Weight Watchers

Key Market Trends

The Dogs animal type Segment is Expected to Hold a Major Market Share in the Pet Obesity Management Market

Dogs animal-type segment accounted for the largest market share in 2021 due to increased animal healthcare spending, specifically in the developed regions.

According to the American Pet Products Association (APPA), by 2020, 56 % of American families would possess pets, with 44 % owning dogs, 25 % owning cats, and 12 % owning other pets. A growing number of families in the United States have decided to add a dog or two to their family. According to the American Pet Products Association's 2017-2018 National Pet Owners Survey, there are now 89.7 million dogs in the United States (Insurance Information Institute). As a result, dogs have become increasingly popular as pets in American homes, with 63.4 million households owning a dog in 2020. (American Pet Products Association, 2020). As a result, the category and market are fueled by the growing popularity of pet dogs around the world.

Obesity is a common medical problem in dogs, according to most veterinarians. Obese dogs are more likely to acquire diabetes, osteoarthritis, and urinary incontinence. Increased adiposity can also have a negative impact on pulmonary function, create metabolic disturbances such as insulin resistance, and have a negative impact on renal function and health. Additionally, dogs fed ad libitum are more likely to be overweight, resulting in a shorter lifespan. As a result, there is now a lot of evidence accessible to show the negative health impacts that can occur when companion dogs become overweight.

Key companies dealing in the segment studied are focusing on new product development and expansion of their distribution channels to capture a larger market share. Hill's Pet Nutrition announced in April 2022 that their Prescription Diet pet food line would be relaunched, with new formulations, packaging redesigns, and more veterinary outreach.

Additionally, Layn Natural Components introduced its TruGro weight control solution in November 2021, which is made entirely of plant-based ingredients and is designed to assist pets maintain a healthy weight. The market is likely to accelerate because of such product launches.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

North America expected to hold a major market share in the global Pet Obesity Management Market. Favorable insurance policies are also expected to expand the market's potential. Furthermore, increased worries among pet owners about the hazards associated with obesity is increasing demand for effective weight control programs, which is expected to promote market growth.

Obesity has affected one-fourth of the canine population in the region, leading a surge in the adoption of pet obesity control tactics and plans. Insurance companies are producing policies to address the increased demand for pet owners to appropriately manage their pets' weight. The American Veterinary Medical Association (AVMA) reports that an average US family adopts more pet dogs than other animals, indicating that pet ownership is on the rise in the United States. The pet expenditure sector in the United States is predicted to grow in the coming years. Thus, the region is expected to hold the significant share in the market.

Pet obesity is becoming an epidemic in America, according to the American Animal Hospital Association, with up to 59 % of dogs and cats being overweight. Weight difficulties can lead to a variety of health concerns, including high blood pressure, arthritis, diabetes, heart and lung disease, kidney malfunction, joint injury, and some types of cancer. Such disorders in pets can endanger their health and perhaps their lives. As a result, the region's market is likely to be driven by the incidence of obesity in pets.

Obesity is the most frequent preventable condition in dogs in North America, according to VCA Animal Hospitals. Obesity affects 25-30% of the dog population, with 40-45 % of canines aged 5-11 years old weighing more than average. Banfield Pet Hospital's 2020 Veterinary Emerging Topics (VET) Report, released in collaboration with the North American Veterinary Community (NAVC), finds that more than half of all adult dogs examined at Banfield's more than 1,000 hospitals in 2019 were overweight or obese. The demand for weight management for dogs is increasing as the number of obese pets grows.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Increasing Pet Ownership

4.2.2 Increasing Prevalence of Diabetes and Other Chronic Diseases

4.2.3 Increasing Demand for Drugs and Pet Insurance Policies

4.3 Market Restraints

4.3.1 Lack of Knowledge of Pet Owners

4.3.2 Stringent Regulatory Policies

4.4 Porter's Five Force Analysis

5 MARKET SEGMENTATION

5.1 By Products

5.2 By Animal Type

5.3 By End-user

5.4 Geography

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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