The Asia Pacific Pet Supplements Market would witness market growth of 7.6% CAGR during the forecast period (2021-2027).
Pets have been considered as crucial part of human society since ancient times. Dogs are regarded as the best friend of the man with around 33% of the global population owning a dog. The trend of treating cats, dogs, and other small mammals as family members has emerged in the last couple of years. Marketers are optimizing on this trend, and hence gaining a better market position. Moreover, the fast urbanization and rising tourism in the APAC region are expected to boost the pet care market. In the last few years, various pet-friendly hotels have been developed considering this scenario. The Four Seasons Hotel in Singapore – a premium hotel – provides low-cost pet-friendly rooms for pets that have a weight between 7kg to 12kgs.
The Asia-Pacific, led by China, India, Japan, and South Korea is as one of the key markets around the world. The massive demand for premium dog food is directly proportional to the growth of the regional market. The developing countries of the region such as India have witnessed the unbridled spread of misinformation from the immunity to infection of the pets, some households began to leave their pets. This compelled the companies operating in the pet food market to introduce various awareness campaigns to dismiss the rumors.
Due to the panic purchasing of pet food products, a massive supply and demand gap has been created in the market. In addition, the pet food market in the region was incapable to fulfill the demand because of the disruptions in the supply chain and declined logistic services. Hence, the growth of the regional market is expected to be fueled by the rapid urbanization and infrastructure changes in the last few years.
The young generation that holds the major percentage of pet owners accepts that pets should be treated equivalent to small kids, which is expected to fuel the demand for pet dietary supplements. Natural and organic pet vitamins have gained high traction in the last couple of years. The market players are incorporating herbs and superfoods in the pet supplements that will accelerate the growth of the market in upcoming years.
The Offline market dominated the Malaysia Pet Supplements Market by Distribution Channel in 2020, thereby, achieving a market value of $15.1 million by 2027. The Online market is expected to witness a CAGR of 9.5% during (2021 - 2027).
Based on Distribution Channel, the market is segmented into Offline and Online. Based on Pet Type, the market is segmented into Dogs, Cats and Other types. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Pet Supplements Market is Projected to reach USD 2.1 Billion by 2027, at a CAGR of 6.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Dechra Pharmaceuticals PLC, Nestle S.A., Elanco Animal Health, Inc., Zoetis, Inc., Nutramax Laboratories, Inc., NOW Foods, Inc., Ark Naturals, Kemin Industries, Inc., FoodScience Corporation (Wind Point Partners), and Honest Paws, LLC.
By Distribution Channel
By Pet Type
By Country
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