The United States veterinary therapeutic diet market is growing at a 7.7% CAGR, driven by rising pet ownership, increased spending, and innovation in pet food, supported by a strong regulatory framework.
NEWARK, DE / ACCESSWIRE / October 3, 2024 / The global veterinary therapeutic diet market share is expected to reach USD 1.6 billion by 2024, with a projected expansion at a CAGR of 9.6% throughout the forecast period. By 2034, the market is anticipated to reach USD 3.8 billion.
Several key factors are driving the growth of this industry, including increasing pet adoption rates, a rising focus on pet health, continuous innovation within the pet food sector, and the growing trend of pet humanization. As pet owners become more aware of their pets' health needs, there is a growing demand for specialized diets to address medical conditions such as obesity and digestive disorders. This awareness has led veterinarians to increasingly recommend therapeutic diets as part of treatment plans, further boosting market growth.
Manufacturers are heavily investing in research and development to create innovative therapeutic diets with specific nutritional profiles tailored to address various pet health issues. By conducting clinical trials and collaborating with veterinary professionals, these companies ensure the safety and efficacy of their products, fostering trust among both consumers and veterinarians.
To enhance the visibility of these therapeutic products, manufacturers are implementing a variety of marketing strategies. These include partnering with veterinary clinics and hospitals to promote their products and participating in industry events and conferences. Many companies are also leveraging digital marketing channels and offering educational resources for both veterinarians and pet owners. By increasing awareness and accessibility, manufacturers are positioning their products as trusted solutions in the veterinary therapeutic diet market.
Key Takeaways from the Veterinary Therapeutic Diet Market Report:
The global market is projected to register a CAGR of 9.6% through 2034.
Based on diet type, gastrointestinal health diets segment is estimated to account for a value share of 65.3% in 2024.
Based on sales channel, veterinary clinics segment is set to hold a leading market share of 47.8% in 2034.
The United States market is forecast to thrive at 7.7% CAGR between 2024 and 2034.
Japan is anticipated to record a CAGR of 9.9% through 2034.
"The future of veterinary therapeutic diet industry looks bright owing to increasing pet adoption, growing emphasis on pet care, and escalating pet humanization trend." - says Nandini Roy Choudhury, Client Partner at Future Market Insights
Country-wise Insights
The regional analysis of veterinary therapeutic diet market is also given to determine key pockets for companies closely. A combination of factors, including a thriving pet sector, favorable government support, and interest in preventive pet care, are behind this growth. Similarly, the impact of health and wellness on veterinary therapeutic diet sales in all these regions is given in the full report.
Growing adoption of pets, especially dogs and cats, is playing a key role in boosting growth of veterinary therapeutic diet market in Asia Pacific. Other veterinary therapeutic diet growth factors in emerging nations include rising emphasis on improving pet health and favorable government policies.
Countries | CAGR 2024 to 2034 |
United States | 7.7% |
China | 6.6% |
United Kingdom | 8.7% |
Japan | 9.9% |
Competition Outlook
New product development through continuous innovation is becoming a go-to strategy for leading manufacturers of veterinary therapeutic diets. Players are constantly focusing on creating specialized diets for different health concerns, including diabetes, allergies, and digestive issues.
Several companies are working on improving the palatability and nutritional value of products to ensure pets enjoy the food. Research and development have played a pivotal role in the success of veterinary therapeutic diets. Companies that continue to invest in research and development will have an edge in the future as well.
Many players emphasize product certifications and fulfill the increasing demand for natural and sustainable ingredients. Using online platforms like social media to expand customer base is gaining momentum. Similarly, strategies like partnerships, distribution agreements, collaborations, and acquisitions are becoming common in this growing sector.
Industry Updates
In March 2023, United States-based Hill's Pet Nutrition launched ONC Care, a prescription diet to enhance food consumption for canine and feline oncology patients.
In 2024, France-based manufacturer and supplier of cat and dog food Royal Canine strengthened its Veterinary Gastrointestinal (GI) portfolio with the introduction of five new diets.
In October 2023, Scientific Remedies, a Spain-based pet health company, launched the Affinity Advance brand in India. The new pet food brand is a result of a partnership between Affinity Petcare and Scientific Remedies.
Leading Veterinary Therapeutic Diet Brands
Medicus
Mars Petcare
Nestlé Purina
Hill's Pet Nutrition
Diamond Pet Foods
Veterinary Nutrition Group
Wellness Pet, LLC
NutriSource
Wysong
Natural Balance Pet Foods, Inc.
Discover the Full Details in Our Report: https://www.futuremarketinsights.com/reports/veterinary-therapeutic-diet-market
Market Segmentation of Veterinary Therapeutic Diets
By Animal Type:
As per animal type, the market has been categorized into cats, dogs, and others.
By Diet Type:
Based on diet type, the report is segmented into weight management diets, diabetic management diets, gastrointestinal health diets, joint health diets, skin and coat health diets, dental health diets.
By Sales Channel:
Different sales channels include veterinary clinics, pet specialty stores, online retailers, and others.
By Form:
Based on form, the industry is bifurcated into dry therapeutic diets and wet therapeutic diets.
By Region:
Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
Old Source:
Veterinary Therapeutic Diet Sales set to Total USD 3.8 Billion by 2034
Driving Growth in the Global Veterinary Therapeutic Diet Market Hits to USD 3.8 billion by 2034.
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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The global therapeutic diet for pet market reflects a remarkable trajectory from 2024 to 2034, indicating a robust growth rate.
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