The vitamins and minerals in the pet supplements are crucial to their well-being and can help extend their lifespan. Increases in pet ownership, concerns about pet health and nutrition, and the trend toward treating pets more like humans have all contributed to the expansion of the pet dietary supplement market in recent years. Pet owners are becoming increasingly knowledgeable about the possible health benefits of natural and organic products, driving up demand for natural and organic pet dietary supplements. Forecasts anticipate the global market for pet dietary supplements expanding at a CAGR of 6% between 2024 and 2032. The increased demand for pet nutritional supplements and the tendency toward humanizing pets are major factors in the expansion of the market. The American Pet Products Association (APPA) estimates that Americans spent about $100 billion on their pets in 2020, with over $38 billion going toward food and treats. This bodes well for the market for pet dietary supplements, as owners are starting to realize the significance of giving their pets a balanced diet.
One factor propelling this industry forward is the rising prevalence of pet ownership. With over 70% of U.S. households owning pets, the pet business in the United States saw sales rise by 6.7% in 2020, to USD 103.6 billion, as reported by the American Pet Products Association (APPA). Spending on pets, particularly pet food and pet vitamins, is on the rise as the humanization of pets becomes more commonplace.Pet owners' increased concern for their animals' well-being is fueling the need for nutritional supplements. Natural and organic pet foods are becoming increasingly popular among pet owners because of their ability to give their animals with the nutrition they need. In addition, there is a growing need for dietary supplements to aid in the management of common pet health concerns like obesity, arthritis, and gastrointestinal upset.The expanding demand for pet nutritional supplements can be traced back to the widespread practice of "humanizing" animals. Pet owners are investing in their pets' health because they view them as part of the family. As a result, many are looking for better nutrition options for their pets. More than 80% of pet owners see their pets as part of the family, and over 60% of pet owners are prepared to pay more for natural and organic pet goods, according to a survey by the American Pet Products Association.
One of the main limitations of the pet dietary supplements industry is the severe regulatory standards. There are strict regulations in place to guarantee the quality and safety of pet dietary supplements. In order to guarantee the quality and safety of pet dietary supplements, regulatory organizations demand that producers adhere to a number of norms and criteria. Manufacturers face a steep learning curve as they attempt to meet the varying regulatory standards in each jurisdiction. The U.S. Food and Drug Administration (FDA) regulates pet dietary supplements in accordance with the Federal Food, Drug, and Cosmetic Act (FD&C Act). The FDA requires pet dietary supplement makers to conform with Current Good Manufacturing Practices (CGMPs), label the product appropriately, and assure that the product is safe and effective. In the same way, the European Union (EU) has standards on animal feed that the European Food Safety Authority (EFSA) ensures pet dietary supplements adhere to. Manufacturers may face product recalls, fines, and a tarnished reputation if they are unable to meet regulatory requirements, which can be time-consuming and expensive to implement.
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Since dogs are the most popular pet in the world, sales of dog food and dog nutritional supplements accounted for the lion's share of income worldwide in 2023. The American Pet Products Association estimates that in 2021, consumers would spend $109.6 billion on pet supplies because 63.4 million American households have a dog. The market for dietary supplements for dogs is anticipated to be driven by the rising awareness among pet owners of the health benefits of dietary supplements, such as increased immunity, joint health, skin and coat health, and digestive health. From 2024 to 2032, the dog industry is projected to grow at a CAGR of 5.1%. Demand for nutritional supplements that can aid in the management of canine chronic disorders like obesity, arthritis, and diabetes is on the rise. Throughout the projection period, the cat market is projected to grow at the fastest rate (5.7%). The market for cats is predicted to expand rapidly over the next few years. About 42.7 million U.S. households have a cat, and pet spending is projected to hit $109.6 billion by 2021, per the American Pet Products Association.
The joint health segment is predicted to show significant expansion during the forecast period. In 2023, the joint health sector of the pet dietary supplements market generated the most revenue. From 2024 to 2032, the worldwide market for pet joint health supplements is projected to expand at a CAGR of 6.5%. Demand for joint health supplements is being driven by the rising incidence of joint-related diseases like osteoarthritis in pets. Supplements for joint health have been shown to decrease inflammation, increase mobility, and generally improve a pet's joint health. Moderate expansion is anticipated for the skin and coat health market throughout the forecast horizon. Pet owners' growing understanding of the role that diet plays in maintaining their animals' skin and coat health is propelling this market. Pets can benefit from supplements for healthy skin and coat because they shed less, have less irritation and scratching, and look better. There will also be moderate expansion in the digestive health market during the predicted horizon. Demand for digestive health supplements is rising as more pets experience gastrointestinal problems like diarrhea, constipation, and vomiting. Supplements for digestive health are helpful for pets since they aid in digestion, reduce inflammation, and support digestive wellness.
North America currently dominates the market due to the growing trend of pet humanization and increasing knowledge about pet health. However, the Asia Pacific region is likely to show the highest CAGR during the forecast period due to the increasing demand for pet dietary supplements and the rising pet population in the region. Due to the large adoption of pets and the rising trend of pet humanization, North America is likely to maintain its supremacy during the forecast period. The Asia Pacific area is predicted to see the greatest CAGR over the forecast period due to the rising pet population, increased pet adoption, and growing awareness about pet health in the region. From 2024 to 2032, the Asia-Pacific area is projected to have the highest compound annual growth rate (CAGR) for pet care goods, including dietary supplements, at 8%. China, Japan, and India are the region's top three revenue generators.
Numerous well-established and up-and-coming companies compete for a slice of the worldwide pet dietary supplements industry. Competition, innovation, and a commitment to sustainability define the global market for pet dietary supplements. Businesses are spending more on R&D, growing their distribution channels, and prioritizing eco-friendliness in order to improve their market share. Nestle Purina PetCare Corporation, Zoetis Inc., Mars Inc., Hill's Pet Nutrition Inc., and Nutramax Laboratories Veterinary Sciences Inc. are only few of the major participants in this industry. Companies are emphasizing methods including mergers and acquisitions, partnerships, product launches, and collaborations in order to acquire a market advantage. In September 2021, for instance, Nestle Purina PetCare revealed that it had acquired Heyday, a startup that sells nutritional supplements to enhance the health of pets like dogs. Nestle Purina's market share and product selection for pets are both expected to increase as a result of this purchase. The introduction of novel items is another sign of intensifying market competition. Investments in R&D are helping businesses create pet products that address issues including joint health, skin and coat health, and digestive health. Hill's Prescription Diet Derm Defender, for instance, is a pet supplement developed by Hill's Pet Nutrition and released in September 2021 with the intention of bolstering the skin's natural barrier function and promoting general skin health. Companies in this market are showing they care about the environment by switching to recyclable and other green packaging. This approach has dual benefits: it aids businesses in their efforts to decrease their carbon impact and also attracts eco-conscious shoppers.
