NEW YORK, June 5, 2024 /PRNewswire/ — The global pet dietary supplements market size is estimated to grow by USD 999.4 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 6.09% during the forecast period.
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Technavio has announced its latest market research report titled Global pet dietary supplements market 2024-2028
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Pet Dietary Supplements Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 – 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.09% |
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Market growth 2024-2028 |
USD 999.4 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
5.64 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 35% |
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Key countries |
US, China, Germany, Canada, and UK |
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Key companies profiled |
Ark Naturals Co., AVIBO FEED ADDITIVES, Beaphar Beheer BV, Bimini LLC, Boehringer Ingelheim International GmbH, Elanco Animal Health Inc., FoodScience LLC, Health and Happiness International Holdings Ltd., Kemin Industries Inc., Makers Nutrition LLC, NBF Lanes Srl, Nestle SA, NOW Health Group Inc., Nutramax Laboratories Inc., Only Natural Pet, Pet Honesty, Supplement Manufacturing Partner, Virbac Group, Vox Nutrition Inc., and Zoetis Inc. |
Market Driver
The pet dietary supplements market is thriving due to the adoption of omnichannel retailing strategies. This approach combines traditional retail stores with online sales channels, including e-commerce platforms like Amazon. Brands are utilizing customer data to personalize online shopping experiences and increase engagement. Omnichannel retailing’s implementation is expected to significantly boost market growth during the forecast period.
The pet supplements market is experiencing significant growth, with a focus on various product offerings. Vitamins, minerals, and branded ingredients are popular choices. Proteins, probiotics, and omega-3 fatty acids are trending nutritional supplements for pets. Calcium and joint supplements cater to aging pets, while digestive and treat supplements cater to pets with specific needs.
Dogs, cats, and other pets benefit from these supplements to maintain optimal health. Pet owners seek natural and effective solutions to enhance their pets’ wellbeing. The market is competitive, with companies offering a wide range of products to cater to diverse pet requirements.
Market Challenges
• Pet owners worldwide are prioritizing their pets’ health by opting for functional and fortified pet food products. In countries like Germany, this trend is particularly noticeable, with a focus on avoiding highly processed foods and excess calories. As a result, the demand for functional pet foods, treats, and snacks is increasing.
• This shift may challenge the growth of the global pet dietary supplements market, as some pet owners prefer these fortified options to supplement their pets’ nutritional needs.
• The pet supplements market faces several challenges in providing optimal nutrition for pets through dietary supplements. These include the canine and feline specific needs for Calming/Carnitine, Probiotics, Antioxidants, and Digestives. The complexity of pet dietary requirements necessitates a precise understanding of each pet’s unique needs. Additionally, ensuring the quality and safety of these supplements is crucial.
• The market also faces the challenge of providing suitable supplements for various pet sizes and breeds, such as Miniatures and Large Animals. Furthermore, the increasing trend of organic and natural pet food options has led to a demand for natural and plant-based supplements.
• The use of artificial preservatives and additives in some supplements can pose health risks, making it essential to prioritize natural and safe ingredients. The market must address these challenges to meet the evolving needs of pet owners and ensure the well-being of their pets.
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Segment Overview
End-user
1.1 Dogs
1.2 Cats
1.3 Others
Product
2.1 Joint-health
2.2 Skin and coat
2.3 Gastrointestinal tract
2.4 Liver and kidney
2.5 Others
Geography
3.1 North America
3.2 Europe
3.3 APAC
3.4 South America
3.5 Middle East and Africa
1.1 Dogs- The pet dietary supplements market caters to the growing demand for products that enhance pet health and wellness. These supplements come in various forms, including tablets, capsules, powders, and liquids. They contain essential nutrients, vitamins, minerals, and other beneficial ingredients.
Pet owners use these supplements to address specific health concerns, such as joint issues, digestive problems, and skin conditions. The market is driven by increasing pet ownership, rising awareness about pet health, and the availability of a wide range of supplements. Pet dietary supplements are an essential part of pet care, providing additional nutrition and supporting overall health.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report
Research Analysis
The Pet Dietary Supplements Market encompasses a wide range of products designed to enhance the health and well-being of various animals, including Dogs, Cats, and other Animals. These supplements come in various forms such as Pills, Powders, and Liquids, and cater to diverse health concerns. Pet humanization trends have led to an increasing demand for Anti-stress supplements, Anti-anxiety supplements, and supplements for specific conditions like Arthritis, Canine parvovirus, Diabetes mellitus, Distemper, and more.
Hemp oil and Cannabis extracts are gaining popularity as natural remedies. Online shopping platforms offer Affordable products, making these supplements accessible to pet owners. The market includes Pet food fortified with Vitamins, Minerals, Herbs, Botanicals, Enzymes, and Joint supplements, among others. Cartilage supplements are particularly popular for supporting joint health.
Market Research Overview
The Pet Dietary Supplements market encompasses a wide range of products designed to enhance the health and well-being of pets. These supplements cater to various needs, including joint health, digestive support, immune system function, and cognitive development. Brands offer chewable tablets, powders, liquids, and soft gels in different flavors and sizes to suit various pet breeds and sizes.
The market is driven by the growing awareness of pet owners regarding the importance of maintaining their pets’ health and longevity. The market is segmented based on product type, animal species, and distribution channels. The market is expected to grow significantly due to the increasing pet population, rising disposable income, and the availability of a wide range of products.
The market faces challenges such as the presence of counterfeit products and stringent regulations. The future of the Pet Dietary Supplements market looks promising with the ongoing research and development in the field of animal nutrition.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
End-user
Dogs
Cats
Others
Product
Joint-health
Skin And Coat
Gastrointestinal Tract
Liver And Kidney
Others
Geography
North America
Europe
APAC
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio