Report : North America Therapeutic Dog Food Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Dry Food, Wet/ Canned Food, Snacks/ Treats, and Others), and Application (Weight Management, Digestive Care, Allergy and Immune System Health, and Others)
The Dry Food Segment to Dominate North America Therapeutic Dog Food Market during 2021-2028
According to a new market research study on “North America therapeutic dog food market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Product Type, Application and Country,” is expected to reach US$ 3,196.70 million by 2028 from US$ 2,196.93 million in 2021. The market is estimated to grow at a CAGR of 5.5% from 2021 to 2028. The report provides trends prevailing in the North America therapeutic dog food market along with the drivers and restraints pertaining to the market growth. Increasing adoption of dogs for companionship, growing prevalence of chronic diseases among dogs and surge in launch of novel therapeutic dog food products are major factors driving the growth of the North America therapeutic dog food market. However, low sales in developing countries may hinder the growth of North America therapeutic dog food market.
As per the Insurance Research Council’s October 2020 report, during the COVID-19 pandemic, around 30% of Americans adopted a pet for companionship. Most of the consumers in the market grappled with the onset of the pandemic. The retail e-commerce platforms witnessed high growth due to several restrictions on the brick-and-mortar stores and the disruption in the overall supply channel.? The pandemic has accelerated an online shift as social distancing changes habits. Changes in pet ownership are another long-term consequence of the COVID-19 outbreak. A few online retailers also reported strong sales. For instance, Chewy.com has witnessed an acceleration in sales since February 2020. Chewy.com generates around 70% of its sales through subscribed customers. All these developments suggest increased online penetration due to the pandemic. Also, the pet population of dogs has increased in the region because of lockdown and people wanting a companion. Home isolation have driven the short-term pet fostering programs that may translate into long-term pet population growth in the future. However, misinformation related to the infection of novel coronavirus to animals has driven pet abandonments in North America. Despite many disruptions caused by COVID-19 containment measures, the long-term growth potential of the healthcare sector remains intact.
The market for North America therapeutic dog food is segmented into product type, application and country. Based on product type, the market is segmented into dry food, wet/canned food, snacks/treats, and others. In 2021, the dry food segment held the largest share in North America therapeutic dog food market. Based on application, the North America therapeutic dog food market is divided into weight management, digestive care, allergy and immune system health, and others. The digestive care segment is expected to be the fastest growing segment over the forecast period. Based on country, the North America therapeutic dog food market is segmented into US, Canada and Mexico. In 2021, US held the largest share in North America therapeutic dog food market. Furthermore, in this present scenario of COVID 19 pandemic, the North America therapeutic dog food market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the North America countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for therapeutic dog food.
Mars Incorporated; Nestlé.; Hill's Pet Nutrition, Inc; The J. M. Smucker Company; Blue Buffalo Co., Ltd. (General Mills, Inc.); Darwin Natural Pet Products; Schell & Kampeter, Inc.; Beaphar; and WellPet are some of the leading companies in the North America therapeutic dog food market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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