MARKET OUTLOOK
The market for pet healthcare in Japan has been anticipated to upsurge with 4.66% of CAGR in the forecasting years of 2019-2025.
Japan’s pet healthcare market is one of the world’s biggest market for pet healthcare, and made up almost half of the APAC market region in 2017. The pet healthcare market is witnessing strong growth in Japan due to increasing household income and knowledge of pet care. A shift in the consumption patterns can be witnessed in the Japanese market. In Japan, the cat population is increasing as people are petting cats more than dogs. As a result, there is an increase in the demand for cat food products. Supermarkets are the leading channel of distribution in Japan. However, the popularity of veterinary clinics is expected to grow as pet owners prefer to purchase pet health & wellness products from reliable sources such as veterinary clinics. Most of the Japanese population think of pets as their family members and the majority of the pets owned are cats and dogs. In Japan, people reside in small apartments, where smaller pets are most suited to the lifestyle of the customers. A majority of the population chooses not to have children, and a growing trend of using pets as substitutes has been observed in the country, creating a pampered pet industry which is anticipated to drive the Japan pet healthcare market during the forecast period.
COMPETITIVE OUTLOOK
The top key players in the Japan Pet healthcare market are DoggyMan H. A. Co., Ltd., Japan Pet Drugs Co., Ltd., Eli Lilly and Company, The Hartz Mountain Corporation, The J.M. Smucker, Co. and Zoetis, Inc.