Portland, OR, July 06, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global pet milk market was estimated at $116.3 million in 2019 and is expected to hit $173.1 million by 2027, registering a CAGR of 6.9% from 2021 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Humanization of pets, lack of adequate colostrum, and urbanization and shifting toward nuclear families drive the growth of the global pet milk market. On the other hand, stringent government norms and high mortality rate of pets impede the growth to some extent. However, growing popularity of pet café and premuimization of pet milk are expected to pave the way for lucrative opportunities in the future.
Get detailed COVID-19 impact analysis on the Pet Milk Market @ https://www.alliedmarketresearch.com/request-for-customization/11207?reqfor=covid
- The outbreak of Covid-19 gave way to rise in the rate of pet adoption as the social distancing norms compelled people to stay at home.
- Also, rise in health awareness led to increasing procurement of pet milk.
The global pet milk market is analyzed across pet type, product form, distribution channel, and region. By pet type, the dog segment accounted for the major share in 2019, holding around half of the global pet milk market,…