DUBLIN--(BUSINESS WIRE)--The "Indonesia Animal Health Market-Forecast from 2021 to 2026" report has been added to ResearchAndMarkets.com's products.
In 2019, the Indonesian animal health market is valued at US$518.437 million. It is expected to grow at a compound annual growth rate of 4.04% by 2026, reaching a market size of US$68.933 million.
It is expected that the increase in the number of animal diseases will become one of the main factors that will supplement the global demand for animal health products in the next five years.
Similarly, on the other hand, the significant increase in food and food demand has led to a surge in the number of livestock in the country. This, coupled with the continuous outbreak of animal diseases, is expected to supplement market growth within a given time frame. In addition, the government plays an important role in promoting the demand for animal health-related products because they are strategically taking measures to promote animal health.
The surge in the number of animal welfare associations and the rapid increase in the number of NGOs focusing on the care of stray animals are also driving business growth opportunities for manufacturers during the forecast period. In addition, the boom in animal husbandry activities and the increasing tendency of millennials to adopt animals will also provide impetus for market growth in the near future.
Compared with dogs, more cats can be seen in this country. The growth of Internet sales and e-commerce is important in the convenience-oriented animal health market.
The humanization of pets is the result of income increase, demographic changes and consumer preferences. The shift from "ownership" to pet "raising" affects the purchase decision of pet products. In addition, the increase in income has led Indonesia to import more intensive animal care products for retail. As the health awareness of pets continues to increase, consumers need clearly defined clean labels.
At present, pet owners are determined to understand the nutritional information of various animal care products. As a result, some animal; healthcare companies claim that the procurement and processing of ingredients is transparent. As consumers pay more and more attention to their health, especially issues related to their diet, similar concerns about pet diets have also increased significantly.
In addition, they like natural and organic products very much. Owners who are closely related to pets usually spend a lot of money on pet food and other animal care products.
Participants in the Indonesian animal health market are implementing various growth strategies to gain a competitive advantage over their competitors in this market.
The major market participants in the market and their relative competitive strategies have been covered. The report also mentions recent transactions and investments by different market participants in the past few years. The company profile section details the business overview, financial performance (listed companies), main products and services provided, and recent transactions and investments of these important market participants in the past few years.
For more information about this report, please visit https://www.researchandmarkets.com/r/fkwnun
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call +353-1- 416- 8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call +353-1- 416- 8900