Pet Supplement Market Outlook
According to the report by Expert Market Research (EMR), the global pet supplement market size is projected to grow at a CAGR of 7.5% between 2024 and 2032. Aided by the growing awareness of pet health and wellness and the rising trend of pet humanisation, the market is expected to grow significantly by 2032.
Pet supplements are products designed to enhance the health and wellbeing of pets. These supplements come in various forms, such as chews, pills, powders, and liquids, and target specific health issues including joint health, skin and coat improvement, digestive wellness, and overall nutritional enhancement. With pets increasingly being considered as part of the family, pet owners are more inclined to invest in these supplements to ensure their pets lead a healthy and comfortable life.
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The primary catalyst of the pet supplement market growth is the heightened awareness among pet owners about pet health and nutrition. With the increase in pet ownership and the strong emotional bond between pets and their owners, there is a rising demand for products that can enhance pet health and extend their lifespan.
Moreover, the trend of pet humanisation, where pets are treated with care and consideration similar to human family members, has significantly contributed to the market growth. This trend has led to increased spending on pet healthcare products, including supplements.
The advancements in pet nutrition research and the development of tailor-made supplements catering to specific pet needs are also fuelling the pet supplement market demand. Additionally, the increased availability and accessibility of these products through online retail channels have made it easier for pet owners to purchase them.
Recent innovations in the market include the development of organic and natural supplements, catering to the growing demand for clean-label products. These products are free from synthetic additives and are made with naturally sourced ingredients, providing a healthier option for pet owners concerned about their pets’ diet.
Geographically, North America is accounting for a significant portion of the pet supplement market share due to high pet ownership rates and increased spending on pet care. Europe follows closely, with a strong focus on pet health and wellness. The Asia Pacific region is also emerging as a significant market, with increasing pet ownership and rising awareness of pet health products.
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Pet Supplement Market Segmentation
The market can be divided based on pet, type, source, distribution channel, and region.
Market Breakup by Pet
- Dog
- Cat
- Freshwater Fish
- Others
Market Breakup by Type
- Multi-Vitamins
- Skin and Coat
- Hip and Joint
- Prebiotics and Probiotics
- Calming
- Others
Market Breakup by Source
- Offline
- Online
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global pet supplement market. Some of the major players explored in the report by Expert Market Research are as follows:
- Ark Naturals Company
- Nutramax Laboratories, Inc.
- Kemin Industries, Inc.
- Nestle S.A
- Virbac
- Others
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