According to the market research company, cats reach their later stage in life at the age of 15 years, but it is not unusual for them to live until their late teens, whereas dogs tend to have a shorter lifespan, with their rate of ageing very strongly positively correlated with size - a Great Dane can be considered old at the age of seven, while the lifespan of a Chihuahua could be almost as long as that of a cat. The rise in life expectancy has resulted in an expanding population of senior canines and felines and is set to see a continual growth by 2020.
Damian Shore, contributing analyst at Euromonitor International comments: "Despite the rising prevalence of pet obesity, advances in nutrition and veterinary care, increased consumer expenditure on pet healthcare, a reduction in pet euthanasia and the increased prevalence of pets living indoors are among the factors that have contributed to an increase in the life expectancy of dogs and cats." These developments have resulted in an expanding population of pets, where the average life expectancy of dogs rose to a record high of 13.2 years during 2014. Products targeting dogs and cats by life stage are well established with a couple of therapeutic brands. Damian Shore: "A key issue is whether such products can thrive in a marketplace where 'natural' has become a key selling point and ingredient lists are getting shorter - a trend that has helped to make Blue Buffalo the leader in North American premium dog food."
A market with potential
The pet health market remains dynamic and diverse. Industry experts believe it has great potential for growth and sales, even in difficult economic times.
New launches for 2017
The analyst stresses that many owners have come to believe that feeding their dogs this type of diet is the key to a long and healthy life. With this in mind, Nestlé is planning to launch a grain-free version of its brand Pro Plan Bright Mind in 2017. Blue Buffalo is also trying to have the best of both worlds with its Blue Natural Veterinary Diet brand. According to Damian Shore, such products point towards a future where products targeting senior pets contain functional ingredients, while, at the same time, being positioned as natural.
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Many owners have come to believe that feeding their dogs naturally is the key to a long and healthy life.