IMARC Group has recently released a new research study titled “Pet Supplement Market Report by Pet Type (Dogs, Cats, and Others), Distribution Channel (Online, Offline), Source (Organic, Conventional), Application (Multivitamins, Skin and Coat, Hip and Joint, Prebiotics and Probiotics, Calming, and Others), and Region 2024-2032”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the pet supplement market?
The global pet supplement market size reached US$ 1.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.2% during 2024-2032.
What is the pet supplement?
Pet supplements are nutritional products designed to provide additional health benefits to pets beyond their regular diet. These supplements are formulated to address various health needs and deficiencies in pets, much like dietary supplements for humans. They come in various forms, including pills, powders, chews, and liquids, and are used to enhance the overall health and well-being of animals. The range of pet supplements available is wide and diverse, catering to specific health concerns. Common supplements include those for joint health, often containing ingredients like glucosamine, chondroitin, and MSM; omega fatty acids for skin and coat health; probiotics for digestive health; and vitamins and minerals to address specific nutritional gaps.
Other supplements may target issues like anxiety, energy, immune system support, and overall wellness. These supplements are formulated based on the nutritional needs of different types of pets, including dogs, cats, birds, and even exotic animals. The formulations consider the unique dietary requirements and health issues of each species and breed.
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What are the growth prospects and trends in the pet supplement industry?
The increase in pet ownership represents one of the key factors driving the growth of the market across the globe. This, coupled with pets is increasingly being treated as family members which is acting as a major growth-inducing factor. This humanization trend leads to more attention being paid to the health and wellness of pets, like that of human family members. Pet owners are becoming more knowledgeable about the specific health and nutritional needs of their pets. This awareness drives the demand for supplements that address health concerns, such as joint health, digestive issues, and skin problems. Just like humans, pets face health challenges as they age. Supplements that address age-related issues, such as joint stiffness, cognitive decline, and general vitality are increasingly in demand.
Veterinarians play a crucial role in educating pet owners about the benefits of supplements. Recommendations from vets significantly influence the decision to purchase supplements for pets. The pet supplement market has seen significant innovation, with products becoming more specialized, palatable, and easier to administer. This is making supplements more appealing to both pets and their owners. With the increasing humanization of pets, owners are more willing to spend on pet health and wellness, including supplements. This trend is part of a larger increase in overall pet-related expenditure.
The growth of online retail platforms has made it easier for pet owners to access a wide variety of pet supplements. Additionally, effective online marketing strategies are increasing consumer awareness of these products. There is a growing trend towards preventive healthcare for pets. Pet owners are increasingly looking for ways to maintain their pets’ health proactively, and supplements are seen as a key component of this approach. With the growing preference for natural and organic products in human nutrition, similar trends are observed in the pet supplement market. Pet owners are seeking supplements with natural, high-quality ingredients.
Competitive Landscape with Key Players:
The competitive landscape of the pet supplements market has been studied in the report with the detailed profiles of the key players operating in the market.
Pet Supplement Key Companies:
- Ark Naturals Company
- Elanco Animal Health Incorporated
- Boehringer Ingelheim International GmbH
- FoodScience Corporation
- Kemin Industries Inc.
- Nestlé S.A.
- Novotech Nutraceuticals Inc.
- NOW Foods
- Nutramax Laboratories Inc.
- VetriScience Laboratories
- Virbac
- Zoetis Inc.
Pet Supplement Market Segmentation
The report has segmented the market into the following categories:
Breakup by Pet Type:
- Dogs
- Cats
- Others
Breakup by Distribution Channel:
- Online
- Offline
Breakup by Source:
- Organic
- Conventional
Breakup by Application:
- Multivitamins
- Skin and Coat
- Hip and Joint
- Prebiotics and Probiotics
- Calming
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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