Pet supplements are defined as substances consumed by horses, cats, dogs and other animals intended to provide them with desired nutrition. These supplements essentially consists of fatty acids such as omega-(3, 6, and 9), minerals and vitamins. These supplements successfully cater to the issues associated with the onset of age-related problems of pets of all kinds, which otherwise have led to numerous disorders. In addition to it, pet supplements are being widely utilized so as to deal with weight management issues due to growing count of obese pets leading to damaged ligaments and joints, heart and other disorders.
The market is witnessing significant growth owing to recent trend among humans of adopting animal services and products. Also, the nutritional profile of pet supplements has emerged as a priority owing to rapid adoption of pets and consideration as part of family. Growing awareness about the health and wellness of pets have led pet owners to switch to pet supplements with prebiotic content. Easy availability of pet supplements at retail outlets is projected to encourage purchase of these products. Increasing awareness by educating the customers about the marketing labels focusing on animal prevention and wellness is expected to boost the product demand. Moreover, the rising number of patents of ingredients as industry players are in continuous research and development leading to diversification of their product portfolio. Furthermore, attitudinal changes toward pets along with rapid urbanization, increase in disposable incomes, and mounting focus on health oriented products have contributed significantly in the demand for pet foods. However, ambiguity over the allergies and intolerance associated with supplements is expected to hamper the market.
Geographically, North America was observed to be the major market and is also projected to maintain its dominance during the forecast period due to rising count of pet owners in this region. Pet owners in country such as U.S. consider pets as family members and therefore, strive to provide their pets with specialized supplements to provide health benefits of omega-3 to their pets. Moreover, pet owners in this region view these supplements as natural sources of promoting health and wellness which acts as a major factor driving the market. Also, veterinarians recommend supplements as a viable alternative to animal drugs as well as to replacement therapies. Asia-Pacific is projected to grow rapidly over the forecast period. Product pricing, cost factor, value for pricing are the prime factors affecting the purchase and demand for pet supplements majorly in Japan and India.
Major key players present in this market include Nestle Purina Pet Care, VetriScience Laboratories, NOW Food, Novotech Nutraceuticals, Virbac, Ark Naturals, Kemin Industries, Zoetis, Bayer, Ayurvet and Others.
In 2017, dogs segment accounted for the major market share and is poised to remain the same during the forecast period. According to pet ownership stats, 46.3 million U.S. houses own dogs (mainly 46% of U.S. homes), and 38.9 million own cats. Moreover, increased spending on dog’s veterinary care has also increased in the recent years which is poised to escalate the market growth. Rising dog ownership especially among millennials also drive the supplement demand over the forecast years. Moreover, dog owners in U.S. adopted a trend of formulating their pet’s diet using feed trials and monitoring the response of the diet via diagnostic testing. In case of deficiency of nutrients, supplements are prescribed by veterinarians as add on to diet which acts as a key aspect for market growth.
Cats segment is anticipated to witness a surge in the coming years due to rising adoption of cats after dogs. Supplements such as Glucosamine and chondroitin are profoundly recommended for cats to inhibit the slow progression of arthritis. Also, these supplements increase lubrication within the joints and repair cartilage. Collectively, the aforementioned factors are predicted to drive the global market.
The market is witnessing a trend where supplement manufacturers are keen on introducing new pet supplements by mimicking the properties of human supplements. In 2017, probiotics pet supplements market dominated the market and is projected to maintain its dominance during the forecast period. Probiotics are considered as nutritional supplements but are also used in conjunction with medicines to treat the cases of diarrhea in dogs and cats. Rising acceptance of probiotics based pet supplements so as to obtain reduction in weight among pets is poised to surge the market.
Prebiotics are fibers which are soluble and fermentable, a type of indigestible carbohydrate, also known as resistant starch. Prebiotics demonstrate higher growth potential in the near future owing to its rising use especially among dogs with digestive disorders and those frequently consuming antibiotics. Also, prebiotics are more likely to inhibit the growth of bad bacteria in dogs which might lead to diarrhea formation. Also, unique formulations of prebiotics helps animals maintaining healthy digestion by improving the gastrointestinal problems. Also, rising use of probiotics in cattle feed in order to improve immune system, animal performance are other factors surging the market. Collectively, the rising need for prebiotic and probiotic supplements is bound to drive the market during the forecast period.
Online sales of pet supplements is growing owing to presence of strong retailers such as Walmart and Amazon. Also, demand for supplements has spiked due to increasing purchasing power of customers especially among developing economies. Internet retailing segment is projected to account for a significant market share during the forecast period as it overcomes the geographical limitation of the product. Factors such as elimination of travel time and cost, comparison-shopping, round the clock assistance, and deals, discounts and offers are the major aspects driving the product demand and in turn the market growth. Increasing internet penetration has opened line of opportunities for the pet supplements market as industry players increasingly market their products online, majorly those whose who bear their name as prefix to products name.
Pharmacy stores segment is projected to rise at a rapid growth rate in the years to come. Pet Supplements are a part of pharmaceutical/healthcare range of products, thus consumers tend to expect the availability of these products at pharmacy stores. There are price variations of products sold through stores as compared to online purchasing. Moreover, veterinarians also follow practice of prescribing supplement of such brands that are available at nearby pharmacy outlets. Ease of purchase as well as availability of unlabeled tinted pills (supplements) at store shelves which online stores not rise of selling, is another factor driving the market.
North America dominated the market in 2017 and is expected to maintain its dominance in the years to come. According to American Society for the Prevention of Cruelty to Animals, 58% of cats and 45% of dogs in North America are overweight. Rising adoption of pet supplements such as multivitamins, anti-oxidants, etc. owing to growing pet health concerns in this region stimulates the market. Pet owners in this regions consult veterinarians on a regular scale and also seek information from other available sources in order to meet the healthcare requirements for their pets. Also, rising awareness regarding nutritional enrichment among animals is another key factor bolstering the product demand. Moreover, higher acceptance of premium dog supplements among U.S. pet owners, due to increased marketing by manufacturers of premium products is also giving boost to product demand in this region.
Asia-Pacific pet supplements market is projected to grow with a rapid pace due to rising adoption of animals in this region. Also, rising awareness regarding the health benefits of prebiotics along with rising ban over the use of antibiotics in animal feed are some of the key factors driving the market in the region.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Pet Supplements market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Pet Type
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Product
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Distribution Channel
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
