Pet Supplements Market market growth over the forecast period By 2030

 Pet Supplements Industry Overview

The global pet supplements market size was valued at USD 1.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2030. 

The rise in pet humanization has led to consumers spending significantly on their food, supplements, toys, accessories, and other related products to keep them active, healthy, and happy. According to report published by the American Pet Products Association (APPA), in 2021, dog, cat, bird owners spent around USD 109.6 billion on these animals in the U.S. These market trends are driving the demand for these products.

Gather more insights about the market drivers, restrains and growth of the Global Pet Supplements Market

 

Most services and stores for dog, cat, bird during the COVID-19 outbreak were shut owing to government advisories against frequent trips to the supermarket and other physical stores. As a result, an increasing number of people began looking for food delivery options for these animals. The emergence of such innovative avenues is one of the few winners in an otherwise devastating COVID-19 crisis. Online shopping for food increased by 20% during the pandemic in the U.S., as reported by the American Pet Products Association (APPA) in June 2021. Prior to the COVID-19 crisis, 60% of animal owners in the country bought supplies such as food, medicines, from offline brick-and-mortar stores.

Pet supplements provide essential nutrients that help improve the immune system and reduce the risk of heart diseases, cancer, inflammation, and diabetes. In addition, these supplements such as fish oil, biotin, and amino acid improve skin health and enhance the ability to fight common problems, such as bacterial infection, itchy skin, and environmental allergies. They also improve cognitive development by providing antioxidants such as Vitamin E, Vitamin C, L-Carnitine, and Coenzyme Q-10.

Additionally, an American Pet Products Association (APPA) survey 2021-2022 stated that millennials were the largest group of owners at 32%, followed by boomers at 27% and Gen X at 24%. Countries such as U.S. and the U.K. are market leaders in terms of adoption of animals but there are several other countries like China, India, Japan, and Brazil, which have been at the forefront in terms of growth in this segment. According to Petsecure 2019 report, adoption of animals including fish, dogs, cats in the U.S. has tripled since 1970. India has the fastest-growing dog population and Brazil has the highest number of small dogs per capita in the world.

Moreover, according to a June 2021 statistics report by the American Pet Products Association (APPA), spending on dogs, cats increased during the COVID-19 pandemic, with 35% of pet owners stating they spent more on supplies—including food, wellness-related products, and other body care items compared to 2019. These statistics show that the market for pet supplements has great potential across the region, as well as the globe. Moreover, a number of these products beneficial for different health problems are available in the market.

In recent years, owners across the globe have been spending significantly on their pets’ wellbeing and nutrition. In spite of this, there are several reasons due to which home bound animals can feel stressed and anxious. Dealing with stress and anxiety is one of the most problematic situations for owners. There can be a number of reasons for stress and anxiety in pets, such as fear of separation, aging, loud noises, or even some kind of disease. Owing to such health issues, owners are increasingly using calming food and intakes, which primarily contain ingredients such as hemp oil and cannabis.

 

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Pet Supplements Market Segmentation

Grand View Research has segmented the global pet supplements market based on pet type, form, application, distribution channel, and region:

• Pet Supplements Pet Type Outlook (Revenue, USD Million, 2017 - 2030)
  • Dogs
  • Cats
  • Others

 

• Pet Supplements Form Outlook (Revenue, USD Million, 2017 - 2030)
  • Pills/Tablets
  • Chewables
  • Powders
  • Others

 

• Pet Supplements Application Outlook (Revenue, USD Million, 2017 - 2030)
  • Skin & Coat
  • Hip & Joint
  • Digestive Health
  • Others

 

• Pet Supplements Distribution channel Outlook (Revenue, USD Million, 2017 - 2030)
  • Online
  • Offline

 

• Pet Supplements Regional Outlook (Revenue, USD Million, 2017 - 2030)
  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • MEA

 

Market Share Insights

• July 2020: Carrefour, the French supermarket chain, launched a new concept pet store in Paris in collaboration with Invivo Retail’s pet care brand Noa. The concept retail store offers a broad selection of full body care products including supplements.
• October 2021: Greenies, a brand of Mars and Affiliates, launched a line of dog supplements targeting mobility, immune system support, and skin and coat health. These products are free from artificial flavors, artificial preservatives, and fillers and are formulated with high-quality ingredients.

 

Key Companies profiled:

Some prominent players in the Pet Supplements market include

• Nestlé Purina Petcare
• Virbac
• Bayer AG
• NOW Foods
• Food Science Corporation
• Ark Naturals
• Zoetis Inc.
• Nutramax Laboratories, Inc.
• PetHonesty
• Zesty Paws

 

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