Pet Supplement Market

Market Overview:

The global pet supplement market size reached US$ 1.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6% during 2023-2028. The rising number of pet adoption, the growing concerns regarding pet health and the introduction of pet supplements prepared using natural ingredients represent some of the key factors driving the market.

A pet supplement is a type of nutritional supplement that is prepared for animal consumption. It is used to provide an animal with additional nutrients beyond what is found in its regular diet. It is usually manufactured from natural sources, such as herbs, vitamins, minerals, and other ingredients. Additionally, it contains glucosamine, omega-3 fatty acids, probiotics, and digestive enzymes. It benefits pets in various ways, such as by providing additional vitamins and minerals to support their overall health, helping to improve their coat, skin, and nails, promoting joint and bone health, and aiding to improve their digestion. It is commercially available in various forms, including chewable tablets, powders, and liquids, and can be tailored to each pet's individual needs. It is generally recommended by veterinarians to ensure that pets are receiving the appropriate amount of nutrition for their needs.

Pet Supplements Market Trends:

The escalating number of pet adoption among the masses majorly drives the global market. This can be supported by the rising prevalence of family nuclearization and changing residents' outlook toward animals. Coupled with the growing concerns regarding pet health that have impelled owners to invest in premium quality pet supplements to boost their immune systems, provide the extra nutrition, and address specific health concerns, which is propelling the market. In addition, the rising prevalence of medical conditions in senior pets is catalyzing the demand for numerous types of pet supplements, such as joint supplements, antioxidants, and vitamin supplements is positively influencing the demand on the global level. Apart from this, the growing preference for pet supplements that are prepared from natural ingredients, is providing a thrust to the market. Furthermore, the widespread adoption of online shopping, allowing easy access to pet supplements across the globe, is creating a positive market outlook. Apart from this, numerous leading players are heavily investing in the development of aggressive marketing strategies, celebrity endorsements, promotional campaigns and innovative packaging solutions in order to gain a competitive edge is acting as a growth-inducing factor. Some of the other factors driving the market include inflating disposable income levels of individuals and extensive research and development (R&D) activities to introduce improved product variants.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global pet supplement market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on pet type, distribution channel, source and application.

Pet Type Insights:

• Dogs
• Cats
• Others
   

The report has provided a detailed breakup and analysis of the pet supplement market based on the pet type. This includes dogs, cats, and others. According to the report, dogs represented the largest segment.

Distribution Channel Insights:

• Online
• Offline
   

A detailed breakup and analysis of the pet supplement market based on the distribution channel has also been provided in the report. This includes online and offline. According to the report, offline accounted for the largest market share.

Source Insights:

• Organic
• Conventional
   

The report has provided a detailed breakup and analysis of the pet supplement market based on the source. This includes organic and conventional. According to the report, conventional represented the largest segment.

Application Insights:

• Multivitamins
• Skin and Coat
• Hip and Joint
• Prebiotics and Probiotics
• Calming
• Others
   

A detailed breakup and analysis of the pet supplement market based on the application has also been provided in the report. This includes multivitamins, skin and coat, hip and joint, prebiotics and probiotics, calming, and others. According to the report, hip and joint accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for pet supplement. Some of the factors driving the North America pet supplement market included the presence of large players, high disposable income levels and continual technological advancements, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global pet supplement market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 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 and Zoetis Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global pet supplement market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global pet supplement market?
• What is the impact of each driver, restraint, and opportunity on the global pet supplement market?
• What are the key regional markets?
• Which countries represent the most attractive pet supplement market?
• What is the breakup of the market based on the pet type?
• Which is the most attractive pet type in the pet supplement market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the pet supplement market?
• What is the breakup of the market based on the source?
• Which is the most attractive source in the pet supplement market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the pet supplement market?
• What is the competitive structure of the global pet supplement market?
• Who are the key players/companies in the global pet supplement market?
   

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the pet supplement market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global pet supplement market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the pet supplement industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.