PUBLISHER: Grand View Research | PRODUCT CODE: 1571547
PUBLISHER: Grand View Research | PRODUCT CODE: 1571547
The global pet dental health market size is expected to reach USD 12.49 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.5% from 2024 to 2030. Increasing pet companion ownership, rising demand for pet dental care products, and rising prevalence of pet dental diseases are the major drivers of the market. Dental diseases are common in companion animals, such as dogs and cats, affecting almost 78% to 80% of dogs and around 70% of cats over 3 years of age. According to VCA Animal Hospitals, periodontal diseases, also referred to as gum diseases, are the most common dental conditions reported in dogs. The increased prevalence of a variety of oral health-related disorders has been highlighted as a significant driver of market growth.
The American Pet Product Association (APPA) estimates that 86.9 million households in the U.S. own a pet, with 65.1 million households owning dogs as per the 2023-2024 National Pet Owners Survey. Every year, pet owners spend an average of USD 49.70 on dental care for their dogs. Furthermore, pet owners' growing awareness about animal oral health and an increase in the number of dental treatments are driving the growth of the market. The most common dental condition, such as periodontitis, according to the American Veterinary Medical Association (AVMA), can cause serious health problems ranging from tooth loss to organ damage. The COVID-19 outbreak is having a mixed effect on the pet dental care product industry. Due to the shutdown of vet clinics and specialized salons, the need for pet oral care products has increased.
During the lockdown, several online businesses also experienced big sales. Chewy.com got around 70% of its revenue from subscribers and has seen an increase in revenues since February 2020. As a result of the pandemic, the penetration of e-commerce pet oral care products and medicines has increased. The market is fairly concentrated, with major worldwide companies holding a considerable market share. Many strategic efforts have been undertaken by the leading industryplayers to expand their market share. They are concentrating on new product releases, mergers and acquisitions, and expansions to reach a larger consumer base. For instance, in May 2023, Virbac, a global animal health company, acquired a distributor in the Czech Republic and Slovakia.
This acquisition will allow Virbac to expand its presence and strengthen its position in the Central European market. In June 2021, Nestle Purina PetCare invested USD 182 million in King William County to expand its manufacturing business to meet the growing consumer demand. North America dominated the market and accounted for a revenue share of over 38% in 2023 owing to the growing need to mitigate unexpected veterinary costs and the penetration of pet insurance. On the other hand, Asia Pacific is likely to exhibit the fastest CAGR over the forecast period due to the rising disposable income, increasing pet adoption, and presence of several local market players.