Global Pet Supplements Market by Distribution Channel (Offline, Online), by Pet Type (Cats, Dogs) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global pet supplements market was valued at USD 1.47 Billion in 2020. It is expected to grow at a compound annual rate (CAGR of 5.9%) between 2021 and 2028. This market is driven by pet adoption and increasing pet care spending. Pet owners are willing to spend large amounts of money to protect their pets' health. This has led to a rise in pet health spending. To satisfy ever-changing consumer demands, the pet care industry constantly strives to find better solutions. The American Pet Products Association reports that household pet adoption increased by 68% in 2016 compared to 54% in 2009. It has increased to 58% in India and Europe since 2007. It is expected that pet healthcare spending will rise due to increased adoption.

The majority of pet owners are Millennials. They believe pets should be treated like children. This explains why there is a demand for pet nutritional supplements. Natural and organic pet vitamins are becoming more popular. Pet supplements are now being made with superfoods and herbs, which will increase their market share.

Pet obesity is becoming more common. This has prompted more veterinarians to open weight-loss clinics. According to the Association for Pet Obesity Prevention (APOP), 59% of American cats and 54% of American dogs were obese or overweight in 2016. This problem has only gotten worse in recent years. In the pet market, weight management is very popular. Nutritional changes are made to maintain the pet's health and control its weight.

Ecommerce Is changing the way people do business around the globe. The Covid-19 epidemic and its lockout repercussions have changed the role of ecommerce in all industries. It is also being adopted by those who are not yet familiar with online selling, as they see it as their only option. Online services and businesses have many opportunities to work together to offer consumers more engaging experiences.

Information about pets

The market was dominated by the dogs segment in terms of value with a share of more than 45.0% in 2020. With an incredible adoption rate, dogs are one of the most beloved pets in the world. The American Pet Products Association's 2019-202020 National Pet Owners Survey found that 63.4 million American households own dogs, and owners spend an average USD 58 annually on dog vitamins.

Vitamins and supplements could be given to approximately one-third of American cats and dogs. A 2006 study in the Journal of the American Veterinary Medical Association found that vitamins and supplements are commonly given to around one-third of American dogs and cats.

COVID-19 clearly raises awareness about the importance of supporting immune health in proactive ways. Kerry reports that more than 25% of American pet owners are concerned about their pets' health due to COVID-19. A further 69 percent of concerned pet owners have considered using immune-strengthening supplementation in their pets' diet.

Distribution Channel Insights

The offline distribution channel segment was the dominant market player in 2020 and accounted to a greater than 75.0% of the total revenue. Pet owners have gradually moved to online shopping for food and treats. However, it wasn't until 2020 when a major shift towards online pet supplement commerce took place. The market for pet vitamins will only become more fragmented as more people buy them online. Online retail has made it possible to acquire retail shelf space. This is one of the biggest obstacles for brands. If this barrier is removed, new players will be able claim a share of this huge and growing market with original and unique substances and claims.

Customers are attracted to online shops by the availability of many international brands, steep discounts, easy returns policies, and free shipping. Online shops offer a variety of products at different prices, which makes it easy to meet the needs of all customers, especially those who are on a tight budget.

Regional Insights

North America held over 40% of the revenue share in 2020. This market is driven by an increase of pet owners, growing concerns about the well-being of pets and pet owners' increased awareness of various health hazards.

Strong sales and growth data reflected a successful year for the U.S. Pet Industry. It not only survived a global pandemic, but also thrived when more people added pets into their homes. Steve King, President and CEO of APPA presented this information at Global Pet Expo Digital Access.

Market Share Insights & Key Companies

There are many well-established players in the market for pet supplements. The market's major players are focused on helping animals live healthy lives by offering a variety of pet food products. Vetoquinol S.A., for example, started the "Green Packaging" project in December 2020. This project was part the long-term strategy of the company and aimed to improve the veterinary laboratory’s palettization plans.

Numerous pet supplement manufacturers are creating new products with diverse components in an effort to increase brand visibility, attract new clients and grow their revenue. Some of these constituents include CBD, hemp oil and krill oils. Appealing product shapes such as nutrition bars, meal toppings and natural flavors like peanut butter or banana can solve pet acceptance and palatability problems. The following are some of the most prominent players in pet supplements:

• Nestle Purina Petcare

• Food Science Corporation

• Ark Naturals

• NOW Foods

• Virbac

• Kemin Industries, Inc.

• Novotech Nutraceuticals, Inc.

• Zoetis Inc. (Platinum Performance)

• Bayer AG

• PetHonesty

• Nutramax Laboratories, Inc.

• Manna Pro Products, LLC

• Honest Paws

• Garmon Corporation

• Zenwise

• Only natural pets

• Dechra Pharmaceuticals PLC

Up Market Research published a new report titled “Pet Supplements Market research report which is segmented by Distribution Channel (Offline, Online), by Pet Type (Cats, Dogs), By Players/Companies Nestl© Purina Petcare, Garmon Corporation, Honest Paws, Zenwise, Food Science Corporation, Bayer AG, Only Natural Pet, Nutramax Laboratories Inc, Ark Naturals, Kemin Industries Inc, Manna Pro Products LLC, NOW Foods, PetHonesty, Novotech Nutraceuticals Inc, Zoetis Inc (Platinum Performance), Dechra Pharmaceuticals PLC, Virbac”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Pet Supplements Market Report Segments:

The market is segmented by Distribution Channel (Offline, Online), by Pet Type (Cats, Dogs).

Pet Supplements Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Pet Supplements Market

Overview of the regional outlook of the Pet Supplements Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Pet Supplements Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Pet Supplements Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Offline

                2. Online

                1. Cats

                2. Dogs

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Pet Supplements Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
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• Understanding Competition Scenario
• Product & Brand Management
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• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Pet Supplements Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.