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Veterinary Therapeutic Diet Sales Set to Total $3.8B by 2034: Report

Factors driving the growth include high pet adoption rates, a rising focus on pet health, continuous innovation in the pet food sector and a growing pet humanization trend.

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The global veterinary therapeutic diet market is likely to total $3.8 billion by 2034, according to a new report from Future Market Insights Inc.

That’s compared with $1.6 billion in 2024. The figure would represent a 9.6% compound annual growth rate during the forecast period.

Factors driving the growth include high pet adoption rates, a rising focus on pet health, continuous innovation in the pet food sector and a growing pet humanization trend.

Download a sample report here.

More from the release:

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.

Key Takeaways from the Veterinary Therapeutic Diet Market Report:

-The global market is projected to register a CAGR of 9.6% through 2034.

-Based on diet type, gastrointestinal health diets segment is estimated to account for a value share of 65.3% in 2024.

-Based on sales channel, veterinary clinics segment is set to hold a leading market share of 47.8% in 2034.

-The United States market is forecast to thrive at 7.7% CAGR between 2024 and 2034.

-Japan is anticipated to record a CAGR of 9.9% through 2034.

“The future of veterinary therapeutic diet industry looks bright owing to increasing pet adoption, growing emphasis on pet care, and escalating pet humanization trend.” – says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).

Leading Companies in Veterinary Therapeutic Industries 

Medicus, Mars Petcare, Nestlé Purina, Hill’s Pet Nutrition, Diamond Pet Foods, Veterinary Nutrition Group, Wellness Pet, LLC, NutriSource, Wysong, and Natural Balance Pet Foods, Inc. are key veterinary therapeutic diet manufacturers and suppliers listed in the report.

Top companies are constantly strengthening their existing product portfolios by introducing advanced pet food formulations. Similarly, strategies like partnerships, acquisitions, mergers, agreements, and promotional campaigns are observed in the market.

For instance:

In January 2024, Hill’s Pet Nutrition introduced new prescription veterinary diet products, including Prescription Diet c/d Multicare Low Fat Canine, Prescription Diet z/d Low Fat Hydrolyzed Soy Canine, and others.

Purchase now and gain full access to the Veterinary Therapeutic Diet Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.

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