Pet Insurance Global Market Rising Trends and Business Opportunities
The Global Pet Insurance Market share is expected to grow at more than 16% CAGR to reach above USD 17 billion by 2026 from a little above USD 6 billion in 2019.
Pet nutrition and health are relatively new concepts. Without proper awareness, it is difficult to sell high quality pet food. However, the growth in the global market of pet insurance will be evidence to raising awareness of Animal health among pet owners and animal farmers, which is main reason to better and safe animal care. Owing to initiatives from companies and health organizations such as Global Health Organization which is taking several steps to prevent the spread of diseases.
Awareness program are performed by various organizations by educating people about the risk of pet care and diseases associated with them. Blogging, social media and in-store classes are all great ways to educate your customer on the products and their impact on pet health.
Pet owners are now more aware of their pets’ welfare and needs. They are looking for nutrition, and not just any food. There is also a high level of awareness about new medical treatments among pet owners and high demand for them.
Key players are increasing their share in the market by anticipating future demand and innovating. They are adopting the strategy of mergers and acquisition.
Anicom Holdings, NSM Insurance Group, Figo Pet Insurance, Petplan, PetFirst, Trupanion, Hartville Group, Nationwide Mutual Insurance, Direct Line Insurance Group, RSA Group, United Services Automobile Association, Government Employees Insurance Company, Medibank, Healthy Paw Pet Insurance, Agria Pet Insurance are key players of Global Pet Insurance Market.
Explore 111 market data Tables spread through nearly 85 Pages and in-depth analysis on “Global Pet Insurance by Animal (Dog, Cat, Others), Policy (Illnesses and Accidents, Chronic Conditions, Others), Provider (Private, Public, Others) and by Region, Global Trends and Forecast from 2019 to 2026” for Table of [email protected]
Modern pet owners and Millennials in particular – are seeking additional value from the businesses they patronize in the form of high-tech and high-touch experiences that make them feel more connected.
Over the years there has been a consistent message that owning a pet isn’t necessarily cheap. However, Millennials and the other demographic groups who are fuelling the experience economy are ignoring this call. They want the best for their ‘fur babies’ and are prepared to spend what it takes to add value to their lives, and that of their pets.
As a group, they are determined to ensure their pet’s life is as good as it can be. As well as the usual high-spend categories of veterinary care, food, and boarding, today’s pet owners are also spending a significant amount of money on treats, grooming services, toys, and even health supplements and pet technology.
Key Market Segments: Pet Insurance Market
Important countries in all regions are covered (Total country profiles 25)
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