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.
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The feed additives category will hold the highest share in the animal 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.
Globally, the Asia-Pacific (APAC) animal healthcare market will be the most lucrative in the years to come, as per the forecast of P&S Intelligence, a market research company based in India. China is predicted to register the fastest growth in the APAC market over the next few years, owing to the increasing requirement of animal-based food items and the surging livestock population in the country. The country was the largest livestock producer and consumer in the world in 2016, with a livestock population consisting of over 400 million goats, sheep, and cattle.
Hence, as the demand for animal-based food items and other products increases all over the world, the requirement of animal healthcare methods and solutions will also surge throughout the world in the coming years.
