Why is Demand for Protein-Rich Food Increasing Need for Animal Healthcare Products?

Milk and meat have now become important parts of everyday meals. The demand for these products has also been increasing because of the changing lifestyle in developing countries, surging population, and rising disposable income of people. In addition to this, due to rising health concerns, people are now opting for protein-rich food, including meat, eggs, and milk. This is why, the focus on raising the production of farm animals has grown considerably across the globe.

However, there is a risk of transference of animal diseases to human, which is why, the emphasis on animal healthcare is also growing. As per a study by P&S Intelligence, the global animal healthcare market is predicted to reach a value of $42,926.7 million by 2023, increasing from $31,637.0 million in 2017, advancing at a 5.1% CAGR during the forecast period (2018–2023). In addition to this, the adoption of companion animals has also increased over the past few years.

As per an American Pet Products Association 2008 survey, people who owned cats and dogs in the U.S. were observed to be healthier and happier as compared to those who did not own any pets. Furthermore, in 2017, Americans spent more than $69.5 billion on pets. Humans are increasingly getting aware regarding the benefits of keeping pets, which is also leading to the growing focus on animal healthcare all over the world.

Since the last few years, there has been a tremendous rise in milk and meat consumption across the globe. This is mainly due to the increasing population, rising per capita income of people, and changing lifestyle choices. In addition to this, the increasing public awareness of health and nutrition and the rising popularity of healthy eating habits have caused a drastic surge in the consumption of various protein-rich foods such as milk, meat, and eggs. These factors have led to a tremendous rise in animal farming, which has, in turn, pushed up the requirement of proper animal healthcare methods.

The other major factors propelling the demand for animal healthcare solutions are the increasing requirement of meat in countries such as China, the U.S., Brazil, and Japan and the rising concerns raised over the transmission of various animal diseases to human beings. Apart from these factors, the mushrooming adoption of pets is also boosting the demand for proper animal healthcare techniques. Pet adoption is rapidly becoming very popular in many countries, mainly because of the ability of the companion animals to provide emotional comfort and happiness to their human friends.

“According to an American Pet Products Association 2008 survey, dog and cat owners in the U.S. were observed to be healthier and happier, as compared to non-pet owners. Moreover, Americans spent over $69.5 billion on their pets in 2017”. Due to these factors, the global animal healthcare market is predicted to exhibit substantial growth in the forthcoming years. The market is divided, on the basis of product, into vaccines, anti-inflammatories, anti-infectives, parasiticides, and feed additives. Amongst these, the feed additives category had the highest share in the market, generating a revenue of more than 40% in 2017.

The feed additives category will hold the highest share in theanimal healthcare market in the future years, due to the increasing production of feed and the rising consumption of various animal-derived food items and products across the world. Animal healthcare is required by both companion and farm animals. Between the two, the adoption of animal healthcare solutions was found to be higher for farm animals during the last few years. This is ascribed to the large-scale adoption of these animals for meeting the high customer demands forvarious animal-sourced food items all over the globe.

A number of products are used for maintaining the health of farming animals, including anti-inflammatories, feed additives, parasiticides, vaccines, and anti-infectives. Some other animal healthcare products include drugs for productive problems, oncological and antiemetic products, and medicines for pain sedation. Out of these, the demand for food additives was the highest in the past, their demand is further predicted to be the highest in the years to come as well. The increasing feed production and rising consumption of animal-derived products are driving the demand for feed additives.

All these products are available at different distribution channels, such as pharmacies & drug stores, veterinary hospitals, veterinary clinics, retail stores, and online platforms. The largest demand for animal healthcare products was created from veterinary hospitals in the past, owing to the rising preference of pet owners for these settings. Veterinary hospitals provide overall healthcare solutions for pets unlike other veterinary facilities. In the years to come, the demand for these products is also expected to rise from online platforms because of the expanding e-commerce sector.

Geographically, North America emerged as the major animal healthcare market in the 2017, owing to the rising spending on healthcare of animals by farm animal owners, emerging trend of pet humanization, and growing requirement for animal-based products. Other than this, the demand for animal healthcare products is also predicted to increase in the Asia-Pacific region in the coming years. The increasing requirement for animal-source food products and rising livestock population in various countries are driving the regional market.

Hence, the demand for animal healthcare products is growing due to the increasing demand for protein-rich foods and rising trend of pet humanization.