|03-20-2019 01:21 PM CET - Business, Economy, Finances, Banking & Insurance||
Global Pet Supplements Market: Ark Naturals, Kemin, Ayurvet, Bayer AG, Nestle Purina Pet Care, NOW Food, Novotech, VetriScience, Virbac, and Zoetis
Press release from: InForGrowth
The global pet supplements market was valued at US$ 72.2 in 2018 and is expected to reach US$ XX by the end of the forecast period, growing at a CAGR of 5.1% during the period from 2018 to 2023. In terms of volume, the global market was at XX in 2018 and is projected to reach XX by 2023 at a CAGR of XX%.
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The notable players operating in this industry include Ark Naturals, Kemin Industries, Ayurvet Limited, Bayer AG, Nestle Purina Pet Care, NOW Food, Novotech Nutraceuticals, VetriScience Laboratories, Virbac, and Zoetis, among others. The company profiles will include key information about companies such as company description, base of operations, operational presence, product/business portfolio, employee strength, list of key stakeholders and board of directors, organizational structure, key competitors and their details, financial information such as revenue growth, profit margin, market capitalization, market positioning of key players, share price comparison, SWOT analysis, key developments, business strategies, and analysts’ views. The information for individual companies has been derived through financial reports, paid databases, and company news articles, among others.
The global pet supplements market is marked by intense competition from the major manufacturers operating in the market. The players have stepped up their R&D investments in order to gain more attention. Moreover, the market growth is attributed to strategic mergers & acquisitions, joint ventures & partnerships, geographical expansion, new product launch and development, and signing of contracts and agreements with other companies, in order to ensure long-term sustenance in the market.
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Based on revenue, companies such as Zoetis, recorded US$ 5,307 Mn in 2017. Zoetis Inc. focuses on the development, discovery, and manufacture and commercialization of animal health vaccines and medicines with a focus on both companion animals and livestock. The product portfolio is for eight core animals such as swine, cattle, fish, poultry, sheep, dogs, horses, and cats. In 2017, Zoetis re-launched its pet supplement Pet-Tabs, Pet-Tabs plus, and Pet-Cal with 18 vitamins and minerals for balanced and complete dog nutrition.
In 2017, companies such as VetriScience expanded their product portfolio by launching three new products CANINE PLUS SENIOR MULTIVITAMIN, DERMA STRENGTH, and PROBIOTIC EVERYDAY. Earlier in 2016, the Company launched a completely new legacy line product and made it available for commercial sale. The decision was made after an overwhelming response from consumers for the veterinarian-recommended joint formula, GlycoFlex.
RECENT DEVELOPMENTS IN THE MARKET:
• Virbac: In Aug 2017, Virbac and Creso Pharma launched hemp-based animal health products. With the launch of new hemp-based pet supplement products, the Company aims to improve the product portfolio and grab more market share than other companies.
• Bayer AG: In December 2018, Bayer Animal Health GmbH and ParaTheraTech, Inc. (PTT), signed a global license agreement for farm animals. The global license agreement was aimed to advance Cryptosporidiosis treatment options for farm animals.
• Who are the key competitors of companies with respect to their products, revenue, geographical presence, and market positioning?
• How is a particular company performing against its competitors?
• What are the Strengths, Weaknesses, Opportunities, and Challenges for major companies in the market?
• What are the strategies for growth adopted by the companies in the market?
• Market positioning of the players with respect to their business strength and product portfolio?
• What are the recent trends in the market? (M&A, partnerships, new product developments, expansions)
• How is the market players’ presence with respect to region and segment?
• Who are the key customers of the market?
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RELATED REPORTS ON PET SUPPLEMENTS MARKET:
Global Pet Supplements Market Full Report
Global Pet Supplements Market Summary Report
Global Pet Supplements Market Segmentation Report
Global Pet Supplements Market Regional Report
Global Pet Supplements Market Statbook
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