Global Veterinary Supplements Market Outlook 2031: Trends, Growth, and Key Players

𝗚𝗹𝗼𝗯𝗮𝗹 𝗩𝗲𝘁𝗲𝗿𝗶𝗻𝗮𝗿𝘆 𝗦𝘂𝗽𝗽𝗹𝗲𝗺𝗲𝗻𝘁𝘀 𝗠𝗮𝗿𝗸𝗲𝘁 𝗢𝘂𝘁𝗹𝗼𝗼𝗸 𝟮𝟬𝟯𝟭: 𝗧𝗿𝗲𝗻𝗱𝘀, 𝗚𝗿𝗼𝘄𝘁𝗵, 𝗮𝗻𝗱 𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀

The global veterinary supplements market is experiencing significant growth driven by the increasing focus on pet health and wellness among pet owners. With a projected compound annual growth rate (CAGR) of 6.9% from 2023 to 2031, the market is anticipated to reach over US$ 15.2 billion by the end of 2031, up from its valuation of US$ 8.3 billion in 2022.

𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗳𝗼𝗿 𝗮 𝘀𝗮𝗺𝗽𝗹𝗲 𝗼𝗳 𝘁𝗵𝗶𝘀 𝗿𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗿𝗲𝗽𝗼𝗿𝘁 𝗮𝘁 (𝗨𝘀𝗲 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 𝗠𝗮𝗶𝗹 𝗜𝗱 𝗳𝗼𝗿 𝗤𝘂𝗶𝗰𝗸 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗲) -

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𝗚𝗿𝗼𝘄𝗶𝗻𝗴 𝗙𝗼𝗰𝘂𝘀 𝗼𝗻 𝗣𝗲𝘁 𝗛𝗲𝗮𝗹𝘁𝗵 & 𝗪𝗲𝗹𝗹𝗻𝗲𝘀𝘀

The surge in demand for veterinary supplements can be attributed to the growing trend of pet humanization, where pets are treated as family members and receive the same level of care and attention as humans. Pet owners are increasingly aware of their pets' well-being and seek products that can enhance their quality of life and address specific health concerns.

𝗧𝗮𝗶𝗹𝗼𝗿𝗲𝗱 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀 𝗳𝗼𝗿 𝗔𝗻𝗶𝗺𝗮𝗹 𝗛𝗲𝗮𝗹𝘁𝗵

Market players are actively engaged in research and development to create innovative and specialized supplements tailored to the specific needs of various animal species and conditions. The introduction of diverse products, including vitamins, minerals, herbal supplements, and probiotics, offers lucrative opportunities for companies to expand their market share and revenue.

𝗣𝗲𝘁 𝗛𝘂𝗺𝗮𝗻𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗚𝗹𝗼𝗯𝗮𝗹 𝗣𝗲𝘁 𝗣𝗼𝗽𝘂𝗹𝗮𝘁𝗶𝗼𝗻

The concept of pet humanization has gained immense popularity globally, leading to a surge in demand for high-quality pet products and services. This shift in consumer behavior has created new business opportunities in the veterinary supplements market, as pet owners invest in products that improve their pets' vitality and address specific health conditions.

𝗕𝘂𝘆 𝘁𝗵𝗶𝘀 𝗣𝗿𝗲𝗺𝗶𝘂𝗺 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 | 𝗜𝗺𝗺𝗲𝗱𝗶𝗮𝘁𝗲 𝗗𝗲𝗹𝗶𝘃𝗲𝗿𝘆 𝗔𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲 𝗮𝘁 -

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𝗔𝗱𝗱𝗿𝗲𝘀𝘀𝗶𝗻𝗴 𝗣𝗲𝘁 𝗗𝗶𝘀𝗲𝗮𝘀𝗲𝘀

As pets are susceptible to various health conditions, the rise in prevalence of pet diseases globally has led to a significant impact on the veterinary supplements market. Pet owners' increasing awareness about these conditions and their desire to provide the best possible care for their pets drive demand for supplements that can support their pets' health and manage specific ailments.

𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗼𝗻 𝗔𝗻𝗶𝗺𝗮𝗹𝘀 𝗦𝗲𝗴𝗺𝗲𝗻𝘁 𝗗𝗼𝗺𝗶𝗻𝗮𝘁𝗲𝘀

The companion animals segment, which includes pets like dogs and cats, accounted for the largest share of the global veterinary supplements market in 2022. This dominance is due to factors such as the growing trend of pet humanization and the rise in pet population, especially in urban areas.

𝗥𝗼𝗹𝗲 𝗼𝗳 𝗔𝗻𝘁𝗶𝗼𝘅𝗶𝗱𝗮𝗻𝘁𝘀 𝗶𝗻 𝗔𝗻𝗶𝗺𝗮𝗹 𝗛𝗲𝗮𝗹𝘁𝗵

Antioxidant supplements are playing a crucial role in addressing oxidative stress in animals, which can contribute to various health issues. These supplements provide a concentrated dose of beneficial compounds that neutralize free radicals and maintain cellular health. They are associated with benefits like improved immune function, cognitive health, cardiovascular support, and reduced risk of age-related diseases.

𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗳𝗼𝗿 𝗰𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝘁𝗵𝗶𝘀 𝗿𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗿𝗲𝗽𝗼𝗿𝘁 𝗮𝘁 -

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𝗣𝗿𝗲𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝗳𝗼𝗿 𝗣𝗶𝗹𝗹𝘀 & 𝗧𝗮𝗯𝗹𝗲𝘁𝘀

The pills and tablets segment holds a major share of the global veterinary supplements market due to their convenience, ease of administration, accurate dosage control, and stability. Pet owners and livestock producers prefer this dosage form, as it allows for precise administration of active ingredients and mimics methods used in human healthcare.

𝗡𝗼𝗿𝘁𝗵 𝗔𝗺𝗲𝗿𝗶𝗰𝗮 𝗟𝗲𝗮𝗱𝘀 𝘁𝗵𝗲 𝗠𝗮𝗿𝗸𝗲𝘁

North America dominated the global veterinary supplements market in 2022, driven by high demand for animal protein, increased awareness about zoonotic diseases, and a growing pet population. The region's strong livestock industry and emphasis on preventative healthcare measures contribute to its market leadership.

𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀 𝗮𝗻𝗱 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁𝘀

Prominent players in the market include Zoetis, Ceva Sante Animale, Elanco Animal Health, and others. These companies are engaged in strategic partnerships, new product launches, and mergers & acquisitions to expand their presence in the industry.

𝗠𝗼𝗿𝗲 𝗧𝗿𝗲𝗻𝗱𝗶𝗻𝗴 𝗥𝗲𝗽𝗼𝗿𝘁𝘀 𝗯𝘆 𝗧𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 -

Thermoplastic Composites Market

https://www.globenewswire.com/en/news-release/2023/03/30/2637539/0/en/Thermoplastic-Composites-Market-to-Grow-at-a-6-CAGR-from-2021-2031-reaching-US-27-Billion-As-per-TMR-Study.html

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𝗔𝗯𝗼𝘂𝘁 𝗨𝘀 𝗧𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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𝗖𝗼𝗻𝘁𝗮𝗰𝘁 𝗨𝘀

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