Pet Supplement Market Projected Expansion to $1 Billion + Market Value by 2035, with a CAGR of 4.3% from 2024 to 2035

Allied Market Research published a report, titled, "Pet Supplement Market by Pet (Dog, Cat, Freshwater Fish, and Others), by Application (Multivitamins, Skin and Coat, Hip and Joint, Prebiotics and Probiotics, Calming, and Others), Source (Organic and Conventional), Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast, 2022-2032."

According to the report, the global pet supplement industry was estimated at $619.4 million in 2023 and is anticipated to generate $1,017.8 million by 2035, registering a CAGR of 4.3% from 2024 to 2035.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/A06522

Prime determinants of growth

The shift in pet ownership to parenting has been a very crucial and defining trend in the pet care market, especially in the developed countries. One-third of the households in developed countries own a pet. Traditionally, pet owners fed their pets leftovers and scraps from family meals. However, pet owners are becoming aware of pet food and supplements, which are manufactured with the focus to improve health of these animals.

In addition, there has been a rise in adoption of pets, owing to various benefits associated with them, such as increase in opportunities to exercise and decline in stress. Nevertheless, introduction of new products made from organic and natural ingredients is expected to disrupt the assumption that the pet supplement sector uses artificial ingredients or ingredients made from chemical additives.

Consumers are increasingly adopting products with organic labels to not get affected by chemicals and artificial ingredients. Hence, many pet food and supplements processing industries are coming up with organic ingredient-based products, which are heavily demanded by pet owners.

People are getting more conscious about the beneficial and healthy effects of organic pet supplements, so pet owners find organic labeled pet food and supplements. Growing innovation in ingredients and acceptance of organic pet supplements are likely to be lucrative opportunities for pet supplement manufactures.

Drivers Rise in trend of pet humanization Rise in standard of living and purchasing power Rapid growth of the retail sector and pet shops
Opportunities Product innovation and rise in demand for organic ingredients
Restraints Traditional ways of feeding pet animals Lack of awareness regarding benefits of pet food and supplements Increase in regulatory on pet food

𝐁𝐮𝐲 𝐓𝐡𝐢𝐬 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 (291 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬): https://www.alliedmarketresearch.com/checkout-final/49e414f9fb3d7498c78abe8e34e79da8

By Pet

The dog segment to maintain its leadership status throughout the forecast period.

By pet, the dog segment held the highest market share in 2023, accounting for more than two-third of the global pet supplement market and is estimated to maintain its leadership status throughout the forecast period. Adoption of dogs is on the rise as compared to other pet animals. Dog supplements comprise a combination of carbohydrates, minerals, proteins, fats, vitamins, and water. These supplements help dogs to fight infection, perform daily activities, repair teeth & bones, and maintain their build and muscle tone.

Various health issues can be observed in dogs such as unplanned weight loss, joint & hip, skin & coat, fear and anxiety, which can be controlled by the pet supplements. For instance, calming supplements are increasingly given to dogs, when they are afraid related anxiety. Thunder, fireworks, sirens, and separation from the owner are common reasons for anxiety in dogs. Furthermore, cross breed dogs are increasingly getting adopted, owing to their unique look, reduced heath issues, and increased lifespan, which is expected to increase pet ownership of dogs.

By Application

The multivitamin segment to retain its dominance by 2035.

By application, the multivitamin segment held the major share in 2023, generating more than one fourth of the global pet supplement market, and is estimated to maintain its leadership status throughout the forecast period. The growing pet supplement market, particularly in multivitamins, is driven by increasing pet ownership and the humanization of pets, where they are treated as family members.

Owners are more aware of their pets' health, leading to a demand for preventive care, including multivitamins for overall well-being. Rising cases of pet health issues like joint problems, skin allergies, and age-related conditions have also fueled this trend. Additionally, premiumization in the pet care industry, with more natural, organic, and vet-recommended products, attracts health-conscious consumers seeking to improve the longevity and quality of life for their pets.

By Source

The conventional segment to maintain its leadership status throughout the forecast period.

By source, the conventional segment held the highest market share in 2023, accounting for more than three-fourth of the global pet supplement market and is estimated to maintain its leadership status throughout the forecast period. Conventional supplements are often easier to find in local pet stores, pharmacies, and online, providing convenience for everyday buyers. Familiarity and trust in established brands also play a significant role, as long-standing products are perceived as reliable.

Additionally, conventional supplements are often formulated to meet general pet health needs, making them appealing to owners looking for basic, no-frills health maintenance solutions for their pets. Many pet owners, especially those in budget-conscious segments, seek cost-effective solutions for their pets' nutritional needs.

By Distribution Channel

The offline segment to retain its dominance by 2035.

By distribution, the offline segment held the major share in 2023, generating more than two thirds of the global pet supplement market, and is estimated to maintain its leadership status throughout the forecast period. Supermarkets/hypermarkets distribute pet animal snacks and foods with a variety of other products and thus are widely accepted across the globe. It provides a widespread option for pet owners to compare various pet supplement brands along with procuring their regular monthly grocery.

Various giants such as Walmart, Kroger, Tesco, and Carrefour, with numerous outlets/stores play a crucial role in such distribution channels. Specialized pet food shops provide special food products for pet animals such as cats or dogs. People considerably prefer to buy pet supplements from vet clinics or pharmacies.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A06522

By Region

North America to maintain its dominance by 2035

Based on region, North America region held the highest market share in terms of revenue in 2023, accounting for more than two fifth of the global pet supplement market and is estimated to maintain its leadership status throughout the forecast period. The surge in pet ownership and increase in spending capacity on pet care products, including health care and grooming products are some of the major attributes for growth of the market in this region. Increasing pet humanization, growing trend of nuclear families, and adoption rate of pets especially among the young population are some of the factors that have impelled the demand for pet supplements across the North America region.

Leading Market Players
Nutramax Laboratories, Inc.
Elanco Animal Health Incorporated.
Zoetis, Inc.
NOW Health Group, Inc.
FoodScience, LLC
Nestle S.A.
Kemin Industries, Inc.
Virbac SA
Ark Natural Company
Novotech Nutraceuticals, Inc.

The report analyzes these key players in the global pet supplement market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

𝐊𝐧𝐨𝐰 𝐌𝐨𝐫𝐞- https://www.alliedmarketresearch.com/pet-supplement-market-A06522

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