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Description
Vet-Prescribed Pet Food Market size was valued at USD x billion in 2021, growing at a CAGR of 4.6% from 2022 to 2028. The global market provides a detailed overview and which can be segmented by product type, animal, distribution channel, and region. By product type, the vet-prescribed pet food market has been segmented into weight management, skin and food coating allergies, digestive care, kidney care, osteoarthritis, and others. By animal, the vet-prescribed pet food market has been segmented into dogs, cats, and other pet animals. By animals, the pet dogs segment is anticipated to garner a significant market share owing to the increasing number of pet dogs among a large section of people worldwide. Besides, residents can prevent robberies in their houses by keeping a well-trained canine pet with them. This is expected to provide ease in the dogs’ humanization rate among households, thereby driving segmental growth. Based on the distribution channel, the segment has been segregated into veterinary centers, online pharmacies, and others. The online pharmacies segment is expected to lead the end-user segments owing to rising online shopping worldwide due to busy schedule life.
Key Development:
In January 2021, Paws Inc., a New York, U.S.-based cat wellness products company, acquired Ocado Group’s Fetch, a U.K.-based online pet food store, to expand its business in the European market.
In January 2020, Sigma Tron International Inc., a U.S.-based electronics manufacturing company, merged with Wagz, Inc., a privately held pet technology company, to implement various kinds of modern technology measures to improve the health and well-being of U.S. millennials’ pets.
