According to the latest report by IMARC Group, titled “Pet Supplement Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the global pet supplement market trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
A Closer Look at the Global Pet Supplement Market Size
The global pet supplement market size reached US$ 1.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 1.6 Billion by 2027, exhibiting a growth rate (CAGR) of 6.3% during 2022-2027.
Pet Supplement Market Top Key Companies:
- Ark Naturals Company
- Elanco Animal Health Incorporated (NYSE: ELAN)
- Boehringer Ingelheim International GmbH
- FoodScience Corporation (OTCMKTS: CULTF)
- Kemin Industries Inc.
- Nestlé S.A. (OTCMKTS: NSRGY)
- Novotech Nutraceuticals Inc.
- NOW Foods (NYSE: DNOW)
- Nutramax Laboratories Inc.
- VetriScience Laboratories
- Virbac (EPA: VIRP)
- Zoetis Inc. (NYSE: ZTS)
Pet Supplement Market Outlook:
Pet supplements are processed food that contains concentrated sources of nutrients to compensate for protein, vitamin, or mineral deficiencies in pets, including dogs, freshwater fishes, cats, reptiles, birds, and horses. These elements are mixed with meats, carbohydrates, and fat components to provide a whole meal for pets and improve their health. They are backed with prebiotics, antioxidants, probiotics, essential fatty acids, vitamins, dietary fiber, and minerals. They also contain omega-3 fats, biotin, methionine, zinc, thiamine, L-tryptophan, valerian, magnesium, and chamomile. Regular consumption of pet supplements helps enhance the immune system, reduce allergy symptoms, maintain a healthy response, and prevent diarrhea among pets.
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Pet Supplement Market: Current Trends & Future Predictions
- The global market is primarily driven by the rising awareness among pet owners about the health benefits of pet supplements. In line with this, the emerging nuclear family trend and increasing consumer expenditure power have surged pet adoptions, which is acting as another factor accelerating the market growth.
- Apart from this, the growing demand for organic pet supplements and surging concerns regarding the quality and safety of the product are providing an impetus to market growth. In line with this, key market players are heavily investing in research and development (R&D) activities to perform well-controlled clinical trials to determine the safety and effectiveness of the supplements, which is bolstering the pet supplement market growth.
Pet Supplement Market Segmentation
The report has segmented the pet supplement market on the basis of pet type, distribution channel, source and application and region.
Based on Pet Type:
Based on Distribution Channel:
Based on Source:
Based on Application:
- Skin and Coat
- Hip and Joint
- Prebiotics and Probiotics
- 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
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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