Pet-Ag, Inc. Has Launched A Goat's Milk Esbilac® Liquid Milk Replacer For Pet Milk Replacement Products Market
Pet milk replacement is probably one of the most common items in the world. Pet milk replacement products are a great way to give the pet the nutrients they are lacking without buying a lot of commercial brand formula or even spending a fortune on the prescription dog or cat medication. There are many different varieties of these products available and many brands that are better than others.
North
America is expected to dominate the global pet milk replacement products market
and this is accredited to the high adoption rate of a pet in the region.
According to the 2019-2020 National Pet Owners Survey conducted by the American
Pet Products Association (APPA), Sixty-seven percent of U.S. households, or
about 85 million families, own a pet. Moreover, increasing awareness regarding
pet health is also projected to foster regional market growth.
The
North America Pet Health Insurance Association (NAPHIA) reported that the pet
health insurance sector for the U.S. and Canada posted a combined gross written
premium of $1.42 billion in 2018, up from $1.15 billion in 2017. The total
number of pets insured reached 2.43 million at year-end 2018, up by over 17
percent from 2017.
Rapid
growth in the pet food industry due to the rising number of pets around the
globe is driving the growth of the pet milk replacement products market.
According to The American Pet Products Association, almost 85 million
households have a pet and over the last 30 years, pet ownership has gone from
56% to 68% of all households. Growing pet health awareness among pet owners and
increasing initiatives for helping orphaned puppies is also projected to foster
the growth of the market. Moreover, dog and cat cafes and non-profit
organizations around the globe are also taking various to offer shelter to such
puppies & kittens. This factor is further anticipated to augment the growth
of the pet milk replacement products market.
Key Developments:
1. In February 2021, Pet-Ag, Inc.
has launched a Goat's Milk Esbilac® Liquid Milk Replacer through its
Distributor and Retailer channel partners. This new, ready-to-use liquid offers
added convenience and more choices to meet the growing needs of pet parents and
professionals
2. In February 2021, Meyenberg, a
producer of goat milk products, launched a line of milk alternative products
for puppies and kittens under its newest brand, Tailspring
3. In September 2019, The Dutch
Denkavit group has entered into an agreement with Grober about the acquisition
by Denkavit of their U.S. subsidiary, Grober Nutrition LLC, innovative young
animal nutrition and feed ingredients company in Auburn, New York.
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