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New Study Offers Global Flea and Tick Product Market Major Insights and Growth Opportunities Forecasted to 2025
Market Research Reports Search Engine
, February 10, 2018 ) Market Research Reports Search Engine (MRRSE) has been serving as an active source to cater intelligent research report to enlighten both readers and investors. This research study titled “
Flea and Tick Product Market
- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025”. Flea and tick products prevent proliferation of insects or parasites such as roundworms, tapeworms, etc. in pets. Pets infected with flea and ticks can result in illness in humans through tick bite or transmittable diseases. Serving to boost growth in the global flea and tick product market is the rising number of indulgent pet owners having the means to spend on their pet’s welfare and ensure theirs too, as well.
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Also driving the global flea and tick product market is the expansion of distribution channels including vet stores and pet superstore. Government initiatives and regulation for the welfare of animal healthcare is likely to boost the flea and tick product market over the year to come.
Lack of knowledge about the various products to stem proliferation of flea and tick, on the other hand, is serving to hinder their market. Low availability of products too is posing a roadblock to the market. However, the challenge will be likely overcome with the gaining of traction of service and therapeutic pets in the upcoming years.
The global flea and tick product market is slated to register a lackluster CAGR of 4.8% from 2017 to 2025 to attain a value of US$1.34 bn by 2025 from US$0.894 bn in 2016, finds a report by Market Research Reports Search Engine.
Spot on Products Seeing Swift Uptake Owing to their Rapid Action
The different types of products purveyed in the global flea and tick market are spray, oral pill, spot on, shampoo, collar, etc. Of them, the market for the segment of spot on is rising rapidly because of its effectiveness and rapid action. The main distribution channels in the global flea and tick product market are pet superstore, vet stores, mass merchandise, and online channel. Among the different types of pets on which flea and tick products are applied, the dogs contribute to most of the share in the market.
Rising Awareness about Animal Healthcare Products Helps Asia Pacific Clock Maximum Growth
Geographically, Europe dominates the global flea and tick product market with maximum share and is predicted to maintain its position in the years to come. This is because of the presence of many prominent global vendors for animal healthcare in the region. Germany holds a sizeable share in the flea and tick product market in the region which it will likely retain till the end of the forecast period. Europe’s market share was about 35% in 2016.
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Vis-à-vis growth rate, it is Asia-Pacific, which is predicted to steal the show due to the rising awareness among pet owners about animal healthcare products. China and India are said to be mainly powering growth in the region.
North America is another key region in the global flea and tick product market and accounted for a considerable share in 2016. Going forward too, the region is expected to retain its share on the back of substantially high annual veterinary expenditure in households in the region as compared to other regions. This is because most houses own pets, particularly in the U.S. The U.S. dominated the market in the region in 2016. The market in North America is forecasted to rise at a CAGR of 4.4% from 2017 to 2025.
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About Market Research Reports Search Engine (MRRSE)
Market Research Reports Search Engine (MRRSE) is an industry-leading database of Market Research Reports. MRRSE is driven by a stellar team of research experts and advisors trained to offer objective advice. Our sophisticated search algorithm returns results based on the report title, geographical region, publisher, or other keywords.
MRRSE partners exclusively with leading global publishers to provide clients single-point access to top-of-the-line market research. MRRSE’s repository is updated every day to keep its clients ahead of the next new trend in market research, be it competitive intelligence, product or service trends or strategic consulting.
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