PET MILK REPLACEMENT PRODUCTS MARKET ANALYSIS

1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker     Pet Milk Replacement Products Market – Insights  Pet milk replacement products are healthy alternative for puppies & kittens,           who are deprived of milk from their mother due to high litter number, or illness               of the mother. Dog and cat cafes and non-profit organizations across the globe                 are taking initiatives to give shelter to such puppies & kittens. At such places,               orphaned, and nursing puppies & kittens are fed milk replacement products, in           order to fulfill their nutritional requirements. Rising awareness of animal health           has resulted in increasing number of initiatives towards helping orphaned           puppies and kittens, which is expected to drive growth of the pet milk           replacement products market over the forecast period. The market is expected           to reach US$ 156.4 million by the end of 2027, exhibiting a CAGR of 5.7% over                 the forecast period. This is attributed to rising awareness about pet health             products among pet owners. Growth in pet food industry is also expected to           drive growth of the pet milk replacement products market. For instance,             according to a report published by FEDIAF in 2018, annual growth rate of the pet                                                                                                                                                                                                        

2. food industry was 2.5% in Europe. Additionally, annual sales of pet food             products was pegged at 8.8 million tons in 2018, according to FEDIAF.              Moreover, mother milk is one of the important factor for maintaining good               health in early days of both puppies and kittens after their birth. For instance,               according to study titled ‘Monitoring of the newborn dog and prediction of           neonatal mortality’, published by Preventive Veterinary Medicine in August         2017, mortality of puppies is higher due to lack of necessary care and diet,             which is required for puppies after their birth and this leads to death of majority             of puppies during the first week of their life. Furthermore, according to study               titled ‘Comparison of the nutrient composition of commercial dog milk           replacers with that of dog milk’, published by Journal of the American             Veterinary Medical Association in June 2014, newborn puppies require about 25           kcal/100 g of body weight/day. Milk replacement products such as powdered or             liquid milk provide a healthy option for nourishment of puppies and kittens.                                                                                                                                              Cost of pet milk replacement products depends on the ingredients that are used             to formulate the final product. For instance, addition of other supplements such             as prebiotics and vitamins, in order to increase nutritional value of the product               along with milk solids, increases the final cost of pet milk replacement           products. Moreover, continuous monitoring of product quality is required to       produce contamination-free products. This requires sophisticated analytical       instruments for testing quality of in-process and final product, which increases           the overall production cost of pet milk replacement products. The high cost             associated with pet replacement products is expected to hamper growth of the         market.                                                                                                                    The global ​pet milk replacement products market was valued at US$ 96.0           million in 2018 and is expected to exhibit a CAGR of 5.7% in terms of revenue,               over the forecast period (2019-2027).                                       

3.   Figure 1. Global Pet Milk Replacement Products Market Share (%), By  Region, 2018    Source: Coherent Market Insights, 2018  North America accounted for the largest market share of around 31.7% in 2018,           owing to adoption of large number of pets in the U.S. and Canada. For instance,               according to the Humane Society of the United States, around 4 million cats and               dogs are adopted from shelters each year.                                                             

4. Figure 2. Global Pet Milk Replacement Products Market Share (%), By Pet  Type, 2018    Source: Coherent Market Insights, 2018  Among pet type, puppies accounted for the largest maket share of 56.9% in           2018, in global pet milk replacement products market. Milk replacement           products for puppies contain all the necessary nutrients and can mimic the             mother dog’s milk in protein, fat, carbohydrates and energy. Milk replacement             products are also used for supplemental feeding of puppies who are skinny, and           undergoing stress, and need a source of highly digestible nutrients.                                                                  Players operating in the global pet milk replacement products market are             focused on adopting various growth strategies such as mergers & acquisitions,           in order to strengthen their market presence. For instance, in July 2019, Manna             Pro Products LLC acquired Hero Pet Brands, a company that manufactures             puppy pads, flea and tick treatment, pet food, and other pet products to             strengthen its product portfolio in the milk replacement products market.Major             players operating in the global pet milk replacement products market include             Pet-Ag, Inc., The Hartz Mountain           International Ltd., Royal Canin, Toplife Formula, GNC Holdings Inc., Grober         Nutrition Inc., Versele-laga, and Manna Pro Products LLC.                                                                                    Corporation,   Beaphar     B.V.,     Petlife      

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