Global Pet Supplement Market Share Is Likely To Reach At A CAGR Value Of Around 5.91% By 2030

31-Mar-2023 | Facts and Factors

According to the Facts & Factors report, 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.

global-pet-supplement-market-share

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The industry refers to the segment of pet care that deals with the production and sale of supplements meant for domesticated animals. These products are designed to maintain or improve animal health while also targeting certain specific medical conditions in some cases. The main goal of pet supplements is to ensure the overall health of pets like cats, dogs, and birds. The nutritional agents are available in various forms like tablets, powders, chewing gums, and liquids.

Browse the full “ Pet Supplement Market Size, Share, Growth Analysis Report By From (Powders, Pill & Tablets, Chewables, and Others), By Pet Type (Cats, Dogs, and Others), By Application (Digestive Health, Skin & Coat, Hip & Joint, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data, and Forecast 2023 – 2030” report at https://www.fnfresearch.com/pet-supplement-market

Some of the most common and easily available pet supplements include digestive aids, multivitamins, and joint supplements along with calming or skin & coating products. In recent years, the industry has registered significant growth due to the growing pet adoption rate and the importance of their health. In the future, the market is projected to grow at a steady rate.

The global pet supplement industry is anticipated to grow owing to the increasing awareness about the health of domesticated animals. Driven by factors like growing initiatives from the veterinary segment, international and domestic pet care agencies, along with government measures, the general population is gaining access to higher information related to animal health and its importance along with product availability in the commercial market that can help pet owners ensure that the well-being of their pets is taken care using supplements.

Furthermore, the increasing population of older pets is a major growth contributor in the industry as these pets are more likely to become dependent on supplements for pain relief or treating specific conditions related to digestion or joints. With the increased efforts of animal care agencies, there is a rapidly rising rate of humanizing pets as they become more involved in people’s lives and get treated as important family members. Additionally, the growing number of external agencies that care for stray animals or previously owned pets like dogs and cats is also crucial for industrial growth.

However, the global market faces certain restraints that work against the growth trajectory. One such issue is the price sensitivity of the supplements. Although a large segment of the population is willing to spend extra money on their pets, the supplements may sometimes be viewed as expensive leading to pet owners avoiding including these products in the diet programs of their pets.

Moreover, the absence of regulatory measures ensuring that the quality of supplements circulating in the market is above standard could further cause a decline in the expansion rate. Other factors like the presence of alternative solutions and therapies along with economic factors are also impacting the market negatively. 

Innovation to open more doors for expansion while the distribution of expired or illegal supplements acts as a major challenge for the players.

global-pet-supplement-market-size

Segmental Overview:

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.

  • Although the preference depends on various factors, the largest contributor in the segment was chewable form of supplements
  • This was followed by pills & tablets, and powders
  • The popularity of chewable is owing to the ease of administration in terms of intake along with the convenience they offer to pet owners
  • Pills & tablets generally have specific applications and are used to target certain health conditions
  • Powders are used by pet owners that require to add supplements to pet food products
  • A recent report by Animal Medicines, Australia, suggested that on average, Australians spend a total of AUD 12 billion on pet supplements every year

Based on pet type, the global market divisions are cats, dogs, and others.

  • The industry is dominated by the dogs segment due to the high adoption of canines as pets as compared to other animals
  • Dogs are scientifically proven to contribute to improving mental health
  • Moreover, with age, dogs tend to suffer from various types of illnesses like stiffness and joint pain
  • In recent, years, the cat segment has registered a growing CAGR
  • As per a 2017-2018 survey by the American Veterinary Medical Association (AVMA), almost 38% of the US household owned at least one dog

Based on application, the global market is divided into digestive health, skin & coat, hip & joint, and others.

Regional Overview:

North America is projected to register the highest growth in the global pet supplement market with the US and Canada acting as major contributors. The growing rate of agencies working toward animal welfare, especially previously domesticated animals like dogs and cats along with rising awareness about proper ways of taking care of animals’ health are reasons for high growth.

Furthermore, the growing number of players along with constant product innovation and rising research & development toward the launch of effective and less harmful supplements could lead to further growth. Europe and Asia-Pacific are also important regions for the market owing to the rise in pet adoptions due to changing lifestyle habits and the rising presence of e-commerce segments allowing more people access to pet supplements.

Report Scope

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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Competitive Landscape:

The global pet supplement market is led by players like 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., and PetAg Inc. amongst many others.

Recent Developments:

  • In January 2023, Wellness, a leading pet nutrition company, announced the launch of Wellness® Supplements which is a range of everyday support chews for pets made with high-quality ingredients
  • In September 2022, Yumi, a brand for dog supplements, announced the launch of a new range of products called Skin Coat and Paws, Joint Care, and Probiotic Chews for dogs across sizes
  • In June 2023, Central Garden & Pet announced the launch of GoodGood which is a brand for pet wellness

The global pet supplement market is segmented as follows:

By From

  • Powders
  • Pill & Tablets
  • Chewables
  • Others

By Pet Type

  • Cats
  • Dogs
  • Others

By Application

  • Digestive Health
  • Skin & Coat
  • Hip & Joint
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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