Pet supplement market is projected to achieve a 7.3% Compound Annual Growth Rate (CAGR), surpassing $822.6 million by 2027 ; Nestle S.A, Novotech Nutraceuticals, Inc., Now Health Group, Inc., Nutramax Laboratories, Inc., and Virbac andZoetis, Inc

According to a new report published by Allied Market Research, titled, "Pet Supplement Market by Pet, Application, Source, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021-2027," The global pet supplement market size was valued at $596.8 million in 2019, and is expected to reach $822.6 million by 2027 at a CAGR of 7.3% from 2021 to 2027. Pet supplements are processed form of food, which are composite of added nutrients, proteins, and minerals. They improve the health of pets and meet the nutrient and mineral requirements in pets. Blinders, flavoring agents, fillers, and preservatives are added in pet supplements that improve the shelf life. Pet supplements are given according the type of deficiencies, symptoms, and disorders in pets.

The growth of the global pet supplement market is driven by increase in pet adoption rate and rise in empathy toward animals. Natural pet food is becoming increasingly popular, as it is formulated using natural ingredients and are free from preservatives and functional ingredients. Furthermore, government support to increase the usage of safe, healthy, and natural ingredients in pet supplements and to bring more transparency in selling these products is boosting the growth of the global market. For instance, pet food products and supplements do not require approval by the FDA. However, FDA ensures that the ingredients used in pet food are safe and have appropriate function in pet food. Many ingredients such as meat, poultry, and grains are considered safe and do not require pre-market approval.

Request For sample :- https://www.alliedmarketresearch.com/request-sample/6887

According to the pet supplement market trends, on the basis of pet, the cat segment was valued at $228.6 million in 2019, and is projected to reach $307.9 million by 2027, registering a CAGR of 6.9% from 2021 to 2027. This is attributed to the fact that cats are more home-friendly than other pets and comparatively less expensive. According to an Australian study, cat owners do have better psychological health than people without pets. People are increasingly adopting cats, as they bond strongly with kids, which boosts the demand for pet supplements. According to a survey conducted by the World Pet Association (WPA), more than 2,200 young kids aged 11-15 have strong bond with their cats.

The players operating in the pet supplement industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Ark Natural Company, Bayer AG. Food Science Corporation, Kemin Industries, Nestle S.A, Novotech Nutraceuticals, Inc., Now Health Group, Inc., Nutramax Laboratories, Inc., and Virbac andZoetis, Inc..

Get detailed COVID-19 impact analysis on the Pet Supplement Market :- https://www.alliedmarketresearch.com/request-for-customization/6887?reqfor=covid

Key findings of the study

The pet supplement market was valued at $596.8 million in 2019, and is estimated to reach $822.6 million by 2027, growing at a CAGR of 7.3% during the forecast period.
By pet, the others segment is estimated to witness the fastest growth, registering a CAGR of 9.7% during the forecast period.
In 2019, depending on application, the multivitamin segment was valued at $201.1 million, accounting for 33.7% of the global pet supplement market share.
In 2019, the U.S. was the most prominent market in North America, and is projected to reach $224.5 million by 2027, growing at a CAGR of 4.5% during the forecast period.

FREQUENTLY ASKED QUESTIONS?
Q1. What would be forecast period in the market report?
Q2. What is the market value of pet supplement market in 2019?
Q3. What is the total market value of the pet supplement market report?
Q4. Which are the top companies' hold the market share in pet supplement market?
Q5. Which is the most influencing segment growing in the pet supplement market report?

Procure Complete Report (323 Pages PDF with Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/99b17ae42eed171069ba567ad25986ce

Similar Report :-
Dog Supplement Market Opportunity Analysis and Industry Forecast 2021-2030
https://www.alliedmarketresearch.com/dog-supplement-market-A09417

Animal wearing clothes market Opportunity Analysis and Industry Forecast 2021-2030
https://www.alliedmarketresearch.com/animal-wearing-clothes-market-A07408

• Pet Care Market Opportunity Analysis and Industry Forecast 2021-2030
https://www.alliedmarketresearch.com/pet-care-market-A06512

• Smart Connected Pet Collar Market Size, Share : Global Opportunity Analysis and Industry Forecast, 2019-2026
https://www.alliedmarketresearch.com/smart-connected-pet-collar-market-A06043

Contact Us
David Correa
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn |

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry

This release was published on openPR.