Pet Supplements Market

SKU: DMVH2164 | Last Updated On: Sep 20 2022 | Available Formats

>Pet Supplements Market Expected to reach a high CAGR of 5.7% By 2029:

Pet Supplements Market is segmented By Product Form (Chewables, Soft Gels, Capsules, Others), By Supplement Type (Essential Fatty Acids, Probiotics, Antioxidants, Multivitamins, Enzymes, Others), By Pet Type (Dogs, Cats, Others), By Distribution Channel (E-Commerce Stores, Supermarkets & Hypermarkets, Pet Care Stores, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.

Pet Supplements Market is expected to grow at a CAGR 5.7% during the forecasting period (2022-2029). The Pet supplements market is focused mainly on the growing expenditure on pet care throughout the globe and the evolution in pet adoption. Pet owners are ready to spend huge money to protect their pets' health, resulting in a surge in pet health expenditure. The pet care market is continuously challenging itself to produce more actual results, improved tasting, more lifelong, more thrilling, and treat more health problems to satisfy the ever-demanding customer. 

The major aspects motivating the growth of the pet supplement market in North America are the rise in pet owners and an increase in spending more money on pet maintenance. Customers are progressively spending on pet maintenance for many services such as pet food, pet grooming, pet veterinary, and pet insurance. Upsurge in aids of organic and natural pet supplements has been additional driving pet supplement market demand in North America.

An upsurge in the adoption of pet animals and an increase in alarms about animal welfare are predictable to boost the growth of the pet supplement market size over the forecast period. Additionally, the trend of petting reptiles such as due benefits such as bearded dragon, anole, tortoise, leopard gecko, and the turtle has augmented considerably, due to their aids such as they do not shed fur, need low maintenance, and not required training. Few of the factors driving the pet supplements market growth, such as a rapid surge in customers’ awareness of pet supplements and enhanced acceptance of organic pet food.

E-commerce is altering the way individuals do business throughout the globe. Certainly, the Covid-19 outbreak and lockdown consequences have moved the role of e-commerce overall industries. It has also been adopted by the rest of the people that are not acquainted with internet selling as it is their only choice. There are several prospects for industries and online services to collaborate to deliver customers with extra attractive involvement

Supplements provide additional health and nutritional benefits over the normal diet. The key ingredients used in the production of pet supplements include Methylsulfonylmethane (MSM), Boswellia, Yucca, Glucosamine, Chondroitin, and many others. Omega fatty acids help lower seasonal allergies, itchy & flaky skin, unwanted or extreme shedding, and some other health conditions in pet animals. The potential health benefits associated with the oral consumption of supplements by pet includes joint support, weight management, digestive support, and many others. Pet owners are eventually seeking to adopt supplements to support cognitive health, heart health, and skin/coat health for their pets.

Pet Supplements Market Dynamics:

Increasing interest in preventive care products by pet owners to improve the health symptoms and issues of pets is the primary factor driving the global pet supplements market. Pets with arthritis, anxiety, digestive issues, allergies, and other health-related issues are being fed with supplements to improve their quality of life. Increased occurrence of bone-related diseases such as osteoarthritis with aging boosts the interest of pet owners towards feeding calcium supplements in addition to regular food. Concerns such as lack of enough nutritional content in traditional animal feed are expected to boost the market for pet supplements globally during the forecast period. Furthermore, the increasing adoption of pets by the millennials combined with growing concerns over their pet health is estimated to boost the market for pet supplements globally.

However, the presence of health-related side effects through excessive consumption of pet supplements and the high cost of these products are major factors hindering the growth of the pet supplements market. 

Pet Supplements Market Segmentation

The global pet supplements market is segmented based on supplement type into essential fatty acids, probiotics, antioxidants, multivitamins, enzymes, and others.

Essential fatty acids are expected to dominate the global pet supplements market owing to increased adoption by pet parents due to the role of fatty acids in the overall wellness of the pet. Essential fatty acids (Omega-3 & Omega-6 oils) derived from fish such as salmon and green-lipped mussels are extensively used as a supplement for pets. These essential fatty acids help in maintaining cardiovascular, neurological, skin, nail, and coat health. These fatty acids have the potential to reduce shedding, promote the growth of the undercoat, and reduce the tendency to inflammation.  

Pet Supplements Market

Metrics

Details

CAGR

5.7%

Segments Covered

By Product Form, By Supplement Type, By Pet Type, By Distribution Channel, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Regions Analyzed

North America, Latin America, Europe, Middle East, and Africa, Asia Pacific, and the Rest of the world.

Major Companies Covered

Now Foods, Bayer AG, In Pet Supplements, NaturVet Company, VetriScience Laboratories, and many other companies

Pet Supplements Market Geographical Presentation

By region, the global pet supplements market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east, and America.

The United States is dominating the global pet supplements market owing to the high presence of the pet population combined with increased spending by pet parents on preventive healthcare. Increased adoption of the pet by the communities and growing consumer awareness regarding dietary supplements are further expected to boost the market for pet supplements in the United States during the forecast period. According to the data published by the American Pet Products Association, the annual expenditure by pet owners over pets is expected to increase from USD 72.56 Billion in 2018 to USD 75.38 billion in 2019 providing similar market growth for pet supplements in the United States during the forecast period.

Pet Supplements Market Competitive Analysis

The key companies in the global pet supplements market are focusing on improving market presence and share in the respective regions through acquiring innovative and emerging companies in their respective industries. Increasing consumer demand for CBD-based supplements led emerging companies to invest in the development of novel CBD-based supplements to cater to the market demand.

  • In October 2019, Pet food manufacturer Stella and Chewy launched canine hemp oil supplement chews, calming, hip & joint for dogs.

  • In May 2018, Manna Pro Products LLC Missouri-based manufacturer of animal nutrition and care products acquired VetScience, LLC and Fruitables brand of premium natural dog treats and food supplements.

Some of the key players in the global pet supplements market include Now Foods, Bayer AG, In Pet Supplements, NaturVet Company, VetriScience Laboratories, and many other companies.

Frequently Asked Questions

What is the Projected CAGR value of the Pet Supplements Market?

Pet Supplements Market is expected to grow at a CAGR of 5.7% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Pet Supplements Market during 2022-2029

Which is the fastest growing region in the Pet Supplements Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period 

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