[231+ Pages Report] According to the report published by Facts Factors, the global pet supplement market size was worth around USD 1.91 billion in 2022 and is predicted to grow to around USD 3.12 billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.91% between 2023 and 2030. The report analyzes the global pet supplement market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the pet supplement market.
The industry works with the production, storage, and distribution of vitamins, nutritional supplements, and other products that can be critical to the health and growth of pets including birds, dogs, cats, and other types of domesticated animals. The products are heavily researched and undergo quality checks before they become available in the commercial market. The end goal of the products or supplements is to ensure animal well-being and encourage healthy growth during their lifetime.
Some supplements have generic applications while some may target specific concerns like digestive issues, joint pain, and skin-related problems. The industry is showing tremendous growth in the coming years but may also struggle with challenges and restraints due to several factors.
The global pet supplement market is projected to grow owing to the increasing rate of pet adoption observed across the globe. There are several reasons, including personal choices and medical factors, that are causing a rise in the number of people opting for pets. For instance, an increasing number of people choose to not have biological children voluntarily and instead adopt pets in addition to couples of individuals who, for medical reasons, are unable to biologically produce. Furthermore, there are certain medical issues in which patients are recommended to be accompanied by pets like dogs at all times. These animals are companion pets and play a crucial role in a patient's physical and mental safety. With the rise in the number of pet owners, the demand for associated supplements is growing at a rapid rate since owners are willing to spend extra money on their pet’s well-being and safety.
Although the research community is growing, there is a significant lack of resources invested in the research and development of existing or new pet supplements. This issue, most concretely, exists in the global industry where there is limited research on understanding the implications of supplement consumption in pets over a period of time.
Some of the most commonly occurring side effects due to supplement consumption include allergic reactions, overdose, and digestive concerns. Some of them may be more serious than others. However, it is one of the major growth restrictions in the industry.
One of the key opportunities is that the market players can invest in innovation and development in the industry. Currently, there is a significant lack of product innovation in the global pet supplement market. With the changing lifestyle and eating patterns of pets, their medical issues are bound to change over the years. More resources need to be invested in understanding the largely unexplored segment of pet health leading to higher development for supplements that target specific concerns with no side effects.
One of the most significant challenges faced that largely affects the sales volume in the industry is the sales and distribution of illegal or illicit pet supplements along with the presence of suppliers that are responsible for the circulation of expired medicines in the market. Such supplements can severely impact the health of the pets and due to the absence of regulatory measures in place that ensure such activities are stopped, the number of illegal suppliers has increased over the years.
The global pet supplement market is segmented based on form, pet type, application, and region.
Based on form, the global market segments are powders, pills & tablets, chewable, and others.
Based on pet type, the global market divisions are cats, dogs, and others.
Based on application, the global market is divided into digestive health, skin & coat, hip & joint, and others.
Report Attribute |
Details |
Market Size in 2022 |
USD 1.91 Billion |
Projected Market Size in 2030 |
USD 3.12 Billion |
CAGR Growth Rate |
5.91% CAGR |
Base Year |
2022 |
Forecast Years |
2023-2030 |
Key Market Players |
Church & Dwight Co. Inc., Bayer Animal Health, Merck Animal Health, Ceva Santé Animale, Kemin Industries, Hill's Pet Nutrition, Dechra Pharmaceuticals, Mars Petcare Inc., NutriScience Innovations LLC, Nestlé Purina PetCare, PetIQ Inc., Nutramax Laboratories, Virbac Group, Nutri-Pet Research Inc., PetLife Pharmaceuticals Inc., PetMed Express Inc., PetAg Inc., and others. |
Key Segment |
By From, Pet Type, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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North America to lead with the highest growth rate during the forecast period. The US and Canada are expected to lead the regional market owing to the rising rate of pet adoption along with the financial capabilities of the regional population to care for pets as compared to various developing or under-developed nations. Furthermore, the high awareness rate about the availability of pet supplements and their benefits along with growing investment toward developing a better infrastructure for pet care could lead to higher revenue.
Europe is another important market for the industry as the pet adoption rate is growing steadily with France and Germany as potential contributors. Asia-Pacific may emerge as a lucrative market due to rising urbanization leading to a higher number of people adopting pets along with a significant number of players from the pharmaceutical sector entering the pet care market.
The global pet supplement market is segmented as follows:
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