May 23, 2024

Companion animal market to boost pet care industry in 2022

 Companion animal market to boost pet care industry in 2022

Girl with dog

Dubai, United Arab Emirates, 26th Jan 2022: The global companion animal health market size was valued at USD 18.67 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.2% from 2021 to 2028.

The Covid-19 pandemic had a significant influence on the sector. Businesses had to alter their operations and adapt to new solutions. However, veteran players leveraged the chance to boost profits and market share. Eurovets the leading distributor for the UAE’s animal health industry that offers a comprehensive premium product range for small to large animals cites demand for quality care of animals, reported an overall increase in 2021 sales compared to the previous years.

Eurovets is the trusted name in providing veterinary and animal health products, serving clinics and businesses throughout UAE and the greater Gulf region for the past decade. It supplies product lines sourced from around the world including Pharmaceuticals, Disinfectants and Treatments, Consumables, Feed and Supplements, Veterinary Equipment, Veterinary Instrumentation and more.

Given the rising demand of pets, according to Eurovets the spending on pet health and wellness also experienced a surge. Dog and cat food was the largest group in the pet care market, with pet treats also witnessing a boost, as owners pampered their furry friends.

COVID-19 also made pet parents cautious of their pet’s health. There was a growing interest amongst pet parents keeping their pets safe from contracting the COVID-19 virus or spreading it. This in a way led to an increased in pet healthcare products like sanitizers, disinfectants and more. Eurovets also tapped this market segment and grew its portfolio with special consumer products which are registered under Dubai Municipality.

Apart from this, there has been a phenomenal increase in awareness among pet parents to provide high-quality nutritious food that caters to their pets’ dietary needs. Eurovets specialised diet plans and premium quality food have gained popularity and is all set to boost pet care market.

According to a report by YPulse, 76 percent of millennials are pet parents who want to offer the best for the most important family member. Given this, according to Eurovets, pet care companies are in good shape to expand their operations and witness a fulfilling 2022.