Veterinary Nutraceuticals Market Size, Industry Share | Forecast 2028

The research report "Veterinary Nutraceuticals Market: By Product Type (Vitamins, Minerals, Enzymes, Probiotics, Omega-3-fatty acids, Others),By Animal Type (Dogs,Cats, Birds, Fish,Others), Application (Immune system, Weight management, Digestive health management, Pain management, Others), Geography- Global/Region/Country Forecast to 2028. The global veterinary nutraceuticals market size was valued at USD 1.4 billion in 2021, growing at a CAGR of 8.2% during the forecast period 2022-28.

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Increase in spending on veterinary health is estimated to increase the demand for Veterinary Nutraceuticals Market:
The use of nutraceuticals and supplements is a current trend in veterinary medicine. The dramatic changes in perception of pet lovers, nutraceuticals are secure and substitute to the pharmaceuticals. Nutraceuticals or supplements provide health advantages and supplements are secure. Increase in spending pet health and the growing adoption of companion animals around the globe is anticipated to speed up the market over the estimation period. Growing R&D with the arrival of technological advancements allows offers new pet food supplement and nutraceutical formulas to the market. Availability of pet nutraceuticals, increasing awareness and increased health checkups are projected to create demand for pet food nutraceutical market.

Growing demand for feline and canine food supplements chiefly fuels the global pet food industry. Rising disposable income, growing consciousness about different animal health problems and spending on veterinary health is anticipated to increase the demand for veterinary neutraceuticals market in future. Restricted consciousness in low-income countries and strict regulations in Europe are anticipated to constrain the market growth.

North America accounted for larger share in the Veterinary Nutraceuticals Market:
On the basis of regional analysis, the market has been categorized into different regions such as Latin America, North America, Europe, Asia Pacific, Middle East and Africa. U.S. veterinary nutraceuticals market is estimated to witness significant market share over the forthcoming years. Increased pets are the major factor fuelling the market. For example, 72.9 million homes are having minimum one kind of companion animal. Canadian pet food nutraceuticals market is anticipated to grow because of growing number of pet food suppliers coupled with increased spending on animal food. Germany veterinary nutraceuticals market is estimated to expand at robust CAGR rate over the forecast period due to the growing consciousness. China veterinary nutraceuticals market is growing at noteworthy growth rate because of the changed demographics coupled with growing companion animal adoption in middle-income countries as well as spending on veterinary healthcare are the leading factors bolstering the market. Middle East countries are majorly fuelled by growing veterinary spending and increasing pet adoption.

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Competitive Analysis Veterinary Nutraceuticals Market:
Major players operating in the veterinary nutraceuticals market are DSM, Diana group, BASF, Merial, V and Nutraceutical International LLC. These players in the market aim at adopting a few effective strategies to strengthen their position in the market and increase the product portfolio.

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