According to the latest report by IMARC Group, titled “Pet Supplement Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global pet supplement market size reached US$ 1.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 1.6 Billion by 2027, exhibiting a growth rate (CAGR) of 6.3% during 2022-2027.
Market Outlook:
Pet supplements are processed food that contains concentrated sources of nutrients to compensate for protein, vitamin, or mineral deficiencies in pets, including dogs, freshwater fishes, cats, reptiles, birds, and horses. These elements are mixed with meats, carbohydrates, and fat components to provide a whole meal for pets and improve their health. They are backed with prebiotics, antioxidants, probiotics, essential fatty acids, vitamins, dietary fiber, and minerals. They also contain omega-3 fats, biotin, methionine, zinc, thiamine, L-tryptophan, valerian, magnesium, and chamomile. Regular consumption of pet supplements helps enhance the immune system, reduce allergy symptoms, maintain a healthy response, and prevent diarrhea among pets.
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Market Trends:
- The global market is primarily driven by the rising awareness among pet owners about the health benefits of pet supplements. In line with this, the emerging nuclear family trend and increasing consumer expenditure power have surged pet adoptions, which is acting as another factor accelerating the market growth.
- Apart from this, the growing demand for organic pet supplements and surging concerns regarding the quality and safety of the product are providing an impetus to market growth. In line with this, key market players are heavily investing in research and development (R&D) activities to perform well-controlled clinical trials to determine the safety and effectiveness of the supplements, which is bolstering the pet supplement market growth.
Major Players Covered:
- Ark Naturals Company
- Elanco Animal Health Incorporated
- Boehringer Ingelheim International GmbH
- FoodScience Corporation
- Kemin Industries Inc.
- Nestlé S.A.
- Novotech Nutraceuticals Inc.
- NOW Foods
- Nutramax Laboratories Inc.
- VetriScience Laboratories
- Virbac
- Zoetis Inc.
Report Segmentation:
The report has segmented the pet supplement market on the basis of pet type, distribution channel, source and application and region.
Based on Pet Type:
- Dogs
- Cats
- Others
Based on Distribution Channel:
- Online
- Offline
Based on Source:
- Organic
- Conventional
Based on Application:
- Multivitamins
- Skin and Coat
- Hip and Joint
- Prebiotics and Probiotics
- Calming
- Others
Geographical Analysis:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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Recently published a report entitled Pet Supplement Market projected till 2026, added by Value Market Research, covers key players along with their market share and strategic development adopted by them.
Further, the report provides market size, share, trends, outlook and forecast based on historical data coupled with drivers, restraints, and opportunities.The broad pet supplement market has been sub-grouped into pet type, product type and distribution channel.
The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
This detail will lead to a focused approach leading to identification of better opportunities.Request a FREE Sample Copy of Pet Supplement Market Report with Full TOC At: https://www.valuemarketresearch.com/contact/pet-supplement-market/download-sampleBy Pet TypeCatDogHorseOthersBy Product TypeMultivitamins & MineralsEssential Fatty AcidsDigestive EnzymesProbioticsPrebioticsAnti-OxidantsOthersBy Distribution ChannelInternet RetailingGrocery RetailersPharmacy StoresOthersThe report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the pet supplement market include Ark Naturals, Ayurvet, Bayer, Kemin Industries, Nestle Purina PetCare Novotech Nutraceuticals, NOW Food, VetriScience Laboratories, Virbac and Zoetis among others.
