Veterinary Therapeutic Diet Sales Set to Total USD 3.8 Billion by 2034, Spurred by a Growing Emphasis on Pet Health | Future Market Insights, Inc.

The veterinary therapeutic diet market is booming due to a combination of factors: rising pet ownership, growing concern for pet health, and increasing innovation in pet food.  Fueled by pet owners' demand for specialized diets and veterinarian recommendations, manufacturers are developing new solutions for various health conditions. The US and Japan are expected to be leading markets with significant growth rates.

NEWARK, Del., May 13, 2024 /PRNewswire/ -- The global veterinary therapeutic diet market is set to be valued at USD 1.6 billion in 2024 and further expand at a CAGR of 9.6% during the forecast period. By 2034, the industry value is projected to total USD 3.8 billion.

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Several factors are providing impetus for the growth of the veterinary therapeutic diet industry. These include high pet adoption, a rising focus on pet health, continuous innovation in the pet food sector, and a growing pet humanization trend.

Increasing pet health awareness among owners has led to a higher demand for specialized diets that address various medical conditions in pets, such as obesity and digestive disorders. This heightened awareness has provoked veterinarians to recommend therapeutic diets as part of treatment plans for their patients, further fueling market growth.

Manufacturers are investing heavily in research and development to formulate innovative veterinary therapeutic diets. These investments focus on creating diets with specific nutritional profiles to target different health issues effectively.

By conducting clinical trials and collaborating with veterinary professionals, manufacturers ensure the efficacy and safety of their products. This will also help them to enhance trust among consumers and veterinarians.

To increase the visibility of pet therapeutic products, manufacturers employ various marketing strategies. This includes partnering with veterinary clinics and hospitals to promote their products and participating in industry conferences and events.

Several players are also using digital marketing channels and providing educational materials for both veterinarians and pet owners. By increasing awareness and accessibility, manufacturers aim to establish their products as trusted solutions in the veterinary therapeutic diets market.