Market Size of Global Pet Obesity Management Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.80 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Pet Obesity Management Market Analysis
The pet obesity management market is projected to register a CAGR of 6.80% during the forecast period.
While the COVID-19 pandemic greatly influenced human lifestyle, it also impacted the pets' food habits, activity levels, and weight, all of which significantly impacted the quality of life. According to the Windermere Veterinary Services report published in June 2021, overweight pets climbed by 108% till 2020. As per the Washington Post published in January 2022, Americans spent USD 21.4 billion on nonmedical pet products through November 2020. As per an article published in August 2021, by the People's Dispensary for Sick Animals, pups were being walked less frequently than pre-pandemic, with 38% leaving the house just once a day compared to 33% in February 2020 due to the lockdown. Hence, the COVID-19 pandemic has elevated obesity levels among pets, significantly contributing to the market's growth.
According to an article published by Pet Keen in July 2022, vets estimate that as many as 59% of all pets are obese. Over the past 10 years, there has been a 169% increase in overweight cats and a 158% increase in overweight dogs. As per the same source, as many as 37% of all dogs are overweight by the time they are six months old. The obesity epidemic is also affecting pets in developing nations, with 44% of all canines in China being classified as obese. As a result of the rising prevalence of pet obesity, pet obesity management strategies are becoming more widely adopted.
The increasing adoption of pets worldwide is expected to boost the market's growth over the forecast period. For instance, according to the American Pet Products Association's (APPA) National Pet Owners Survey of 2021-2022, 70% of American homes, or about 90.5 million families, owned a pet. The increased ownership of pets and per capita earnings among individuals, particularly in developing nations, will likely fuel this market's expansion. According to the North American Pet Health Insurance Association (NAPHIA), gross written premiums for pet health insurance in the United States reached USD 1.99 billion in 2020, an increase of 27.5% from USD 1.56 billion in 2019. From 2016 to 2020, the market grew at an annual rate of around 24.2%. Hence, this is likely to contribute to the market's growth.
Many pet owners are aware of and worried about maintaining their pets' weight, particularly in the early stages, as excess weight can lead to various health problems. If left unchecked, it can lead to astronomically high medical expenditures. Increased occurrences of obesity-related disorders in pets are predicted to increase the demand for pet obesity management, thereby contributing to the market's growth. However, a lack of awareness about pet obesity management in developing economies is expected to hinder the market's growth.
