NEW YORK, July 24, 2024 /PRNewswire/ -- The global pet
dietary supplements market size is estimated to grow by
USD 999.4 mn from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of about 6.09% during the forecast period. Rising pet adoption
globally is driving market growth, with a trend towards increasing
adoption of omnichannel retailing. However, competition from
functional and fortified pet food category poses a challenge. Key
market players include 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..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
End-user (Dogs, Cats,
and Others), Product (Joint-health, Skin and coat, Gastrointestinal
tract, Liver and kidney, and Others), and Geography (North America,
Europe, APAC, South America, and Middle East and Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
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.
|
Key Market Trends Fueling Growth
Players in the global pet dietary supplements market are
capitalizing on the opportunities presented by omnichannel
retailing to boost product visibility. Through a combination of
retail stores and online stores, companies are reaching out to a
wider customer base. E-commerce platforms, such as Amazon, are
particularly popular, with sales seeing significant growth. Brands
are focusing on enhancing customer engagement by analyzing buying
trends and personalizing online shopping experiences. Omnichannel
retailing is expected to drive market expansion during the forecast
period.
The pet supplements market is thriving, with major vendors
offering a wide range of products for pets. Allergen-free
supplements are gaining popularity among pet owners, ensuring
affordable options for all. Pet supplements come in various forms,
including vitamins, minerals, herbs, botanicals, enzymes, joint
supplements, cartilage, omega-3 fatty acids, probiotics &
prebiotics, proteins & peptides, and more. Branding plays a
crucial role in attracting pet owners, focusing on pet nutrition,
emotional well-being, and millennial households' increasing pet
health needs. Veterinary care and lifespan extension are
significant drivers for pet supplements. Age-related illnesses,
calcium, B vitamins, L-carnitine, taurine, and other essential
nutrients are commonly addressed through these supplements. Dogs
and cats, along with other animals, benefit from these supplements
in pill, powder, liquid, treat, or functional ingredient forms.
Natural ingredients, such as turmeric, hemp-derived CBD, and
adaptogens, are increasingly popular in private label brands. Pet
humanization and the growing pet population continue to fuel the
market's growth. Overall, pet supplements cater to a diverse range
of dietary needs, ensuring pets live healthier, happier
lives.
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Market Challenges
- The pet food industry is witnessing a notable trend towards
functional and fortified pet food products. In markets like
Germany, pet owners prioritize the
avoidance of highly processed foods and excess calories for their
pets. Consequently, there is a growing preference for functional
and fortified pet foods, treats, and snacks. This shift in consumer
behavior poses a challenge to the pet dietary supplements market,
as many pet owners believe that these functional and fortified pet
food categories cater adequately to their pets' nutritional needs.
As a result, several pet food manufacturers are launching low, no,
or reduced formulation pet foods with functional claims to meet
this demand. The popularity of these categories is anticipated to
impact the growth of the global pet dietary supplements market
during the forecast period.
- The pet dietary supplements market faces several challenges.
Chewables, multivitamins, probiotics, prebiotics, antioxidants,
proteins, peptides, glucosamine, hip and joint, digestive health,
calming/stress/anxiety, weight management, and various other
supplements are popular categories. Horses and birds are
significant consumer groups. Pet food companies like Mars,
Pedigree, and Mars Petcare dominate the market. Challenges include
catering to diverse needs, such as arthritis, Canine Parvovirus,
Distemper, diabetes mellitus, and FLUTD. Online shopping is a
growing trend. Supplements like hemp oil, cannabis, anti-stress,
and anti-anxiety supplements are gaining popularity. Brands like
Zoetis and Elanco offer veterinary wet diets. Companies like NOW
Foods and Virbac provide powder forms. Amino acids, vitamin E,
vitamin C, L-Carnitine, and Coenzyme Q-10 are common ingredients.
The market is vast and diverse, requiring innovative solutions to
meet the unique needs of various pets.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This pet dietary supplements market report extensively covers
market segmentation by
- 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 is
growing due to increasing pet ownership and awareness about their
health. These supplements provide essential nutrients to pets,
especially those with specific health needs. Manufacturers offer
various forms like tablets, chews, powders, and liquids. Retailers
stock these supplements, catering to pets of different sizes and
breeds. Consumers prioritize brands that use natural ingredients
and offer health benefits beyond basic nutrition. The market's
future looks promising, driven by continuous innovation and demand
for improved pet health.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Pet Food Market is experiencing robust growth, driven
by rising pet ownership and increasing awareness of pet health. In
the US, the Fresh Pet Food Market is expanding as pet owners seek
natural and nutritious options for their pets. The Organic Pet Food
Market is also gaining momentum globally, with consumers
prioritizing organic ingredients and sustainability. Together,
these trends highlight a shift towards premium, health-focused pet
food products, reflecting a broader commitment to pet wellness and
environmental responsibility.
Research Analysis
The pet dietary supplements market encompasses a wide range of
products designed to enhance the health and wellbeing of dogs,
cats, and other animals. These supplements come in various forms,
including pills, powders, and liquids, as well as treats and chews.
With the growing trend of pet humanization, the market for pet
supplements has seen significant growth. The increasing pet
population and the rising prevalence of health issues such as
arthritis, anxiety, stress, Canine Parvovirus, Distemper, Diabetes
mellitus, and various other conditions have fueled the demand for
supplements. Pet owners are turning to natural remedies like
vitamins, minerals, herbs, botanicals, enzymes, joint supplements,
and cartilage to improve their pets' health. Hemp oil and
cannabis-based supplements have also gained popularity for their
potential therapeutic benefits. Online shopping offers affordable
options for pet owners, making it easier to access these
supplements.
Market Research Overview
The pet dietary supplements market is a rapidly growing
industry, catering to the increasing pet humanization trend and the
expanding pet population. This market includes various forms such
as pills, powders, liquids, treats, and chewables for dogs, cats,
horses, birds, and other animals. Natural ingredients like
turmeric, hemp-derived CBD, adaptogens, and functional ingredients
are popular choices. Major vendors offer private label brands,
multivitamins, probiotics, prebiotics, antioxidants, proteins,
peptides, glucosamine, and hip and joint supplements. Supplements
are available for specific health concerns such as digestive
health, calming/stress/anxiety, weight management, arthritis, and
various diseases like Canine parvovirus, Distemper, and Diabetes
mellitus. Online shopping and affordable products are making pet
supplements accessible to a wider audience. Brands focus on
branding, catering to pet owners' emotional well-being, and
addressing the health needs of millennial households. Some common
ingredients include fish oil, biotin, amino acids, Vitamin E,
Vitamin C, L-Carnitine, Coenzyme Q-10, and Zoetis, Elanco, Mars,
Pedigree Multivitamins, Virbac, and Greenies are major vendors.
Veterinary wet diets, FLUTD, and allergy and sensitivity are other
areas of focus. Allergen-free supplements and affordable products
are also available.
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
-
- 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.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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