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2021
Pet Supplement Market

Pet Supplement Market

by Pet (Dog, Cat, Freshwater Fish, and Others), Application (Multivitamins, Skin & Coat, Hip & Joint, Prebiotics & Probiotics, Calming and Others), Source (Organic and Conventional), and Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast, 2021-2027
Update Available On-Demand

Report Code: A06522
Pages: 323
Feb 2021 | 8859 Views
Author(s) : Anil Kamble , Roshan Deshmukh
Tables: 154
Charts: 73
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COVID-19

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The pet supplement market size was valued at $596.8 million in 2019, and is estimated to reach $822.6 million by 2027, registering a CAGR of 7.3% from 2021 to 2027. 

Pet supplement refers to processed food made of plant and animal raw materials with concentrated sources of nutrients to compensate for vitamin, protein, or mineral deficiencies. It provides essential nutrients, which help to improve the health of pets, including dogs, cats, freshwater fishes, reptiles, horses, and birds. Increase in adoption of animals for petting and rise in concerns about animal welfare are expected to augment the growth of the pet supplement market size during the forecast period. Furthermore, the trend of petting reptiles such as owing benefits such as anole, bearded dragon, leopard gecko, tortoise, and turtle has increased considerably, owing to their benefits such as they do not shed fur, require low maintenance, and do not need training. In addition, increase in consumer awareness regarding pet supplements and rise in adoption for organic pet food boost the growth of the market.

Pet-Supplement-Market,-2021-2027

The outbreak of the COVID-19 pandemic has adversely affected the consumer goods industry; however, animal food and supplements market has been witnessing significantly lower impact. People are restricted to stay at their homes to stop the spared of the coronavirus. In most of the countries, boundaries are closed, which directly affect the export & import of pet supplement ad well as manufacturing process. Moreover, the supply chain has slowed down, which has disrupted the whole market. During lockdown, people were quarantined at their homes along with pets, which increased the sale of pet supplement. Decrease in cases of coronavirus and introduction of in vaccines to treat COVID-19 are expected to support the pet supplement industry to regain its position.  

According to the pet supplement market analysis, the pet supplement market segmented into pet, application, source, distribution channel, and region. On the basis of pet, the market is categorized into dog, cat, freshwater fish and others. By application, it is segregated into multivitamins, skin & coat, hip & joint, prebiotics & probiotics, calming and others. Depending on distribution channel, it is bifurcated into offline and online.  On the basis of source, the market is categorized into organic and conventional. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Pet Supplement Market
By Pet

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Dog segment helds the major share of 45.2% in 2019

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On the basis of pet, the dog segment accounted for the around half of the global pet supplement market share in 2019, and is expected to maintain this trend during the forecast period. This is attributed to the fact that dogs have been majorly considered for petting, as they help in releasing stress, they are more resistant to allergies, and encourage owners for outdoor activities & exercise. In addition, loneliness and busy lifestyle are the major factors boosting the adoption of dogs, which can lower the risk of mental disorders such as depression, anxiety, and stress. Regardless of these benefits, dogs are primarily adopted for home protection and their honesty toward their owners. Thus, increase in adoption of dogs is likely to escalate the sale of pet supplements, thereby contributing toward the growth of the pet supplement market.    

Pet Supplement Market
By Type

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Multivitamins segment helds the major share of 33.7% in 2019

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According to the pet supplement market trends, depending on application, the calming segment was valued at $54.4 million in 2019, and is expected to reach $87.7 million by 2027, with a CAGR of 9.3%. Calming supplements are majorly purchased for pets to reduce stress, anxiety, and fear. Around 50% of dogs are afraid of fireworks and 15% suffer from separation anxiety. Calming supplements for pets depend upon the type of anxiety such as fear-related anxiety and separation-related anxiety. Calming supplements are usually in the form of chews, though tinctures and tablets are also available. Some of these are designed for long-term use, which are suitable for separation anxiety or generalized anxiety. Increase in prevalence of mental disorders among pets coupled with rise in concerns among pet owners is expected to increase pet supplement market share. 

Pet Supplement Market
By Source

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Conventional segment helds the major share of 76.7% in 2019

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On the basis of source, the organic segment was valued at $138.6 million in 2019, and is expected to reach $223.6 million by 2027, with a CAGR of 9.3%. Organic pet supplements have been gaining significant traction among pet owners, owing to associated benefits such as they aid in faster healing, exhibit high nutritional profile, and have no side effects. Increase in spending on pet care and concern about animal welfare are anticipated to motivate pet owners to buy expensive pet care products, including organic pet food and supplements. Growing popularity of organic labeled supplements is likely to propel pet supplement market growth. 

Pet Supplement Market
By Distribution Channel

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Offline segment helds the major share of 84.9% in 2019

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By distribution channel, the offline segment was valued at $89.8 million in 2019, and is expected to reach $159.7 million by 2027, with a CAGR of 10.6%. The offline segment includes supermarket & hypermarket, small retail stores, pet stores, and vet care pet clinics. Consumers prefer to by pet supplements from pet stores and vet care pet clinics, as these stores provide proper guidance and suggestions along with tips to care for pets. In addition, increase in urbanization and expansion of metro cities are likely to promote the growth of the retail sector, which, in turn, favors flawless distribution of pet supplements.    

Pet Supplement Market
By Region

2027
North America 
Europe
Asia Pacific
Lamea

North America Region helds the major share of 43.10% in 2019

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North America dominated the pet supplement market in 2019, and is expected to retain its dominance throughout the forecast period. The key factors driving the growth of the pet supplement market in North America are increase in pet ownership and rise in spending on pet care. Consumers are increasingly spending on pet care for various services such as pet grooming, pet food, pet insurance, and pet veterinary. For instance, the North American Pet Health Insurance Association (NAPHIA) reported that the pet health insurance sector for the U.S. and Canada posted a combined gross written premium of $1.42 billion in 2018, up from $1.15 billion in 2017. 2.43 million pet were insured in 2018 and it was up by over 17% from 2017. Increase in benefits of natural and organic pet supplements has been further propelling pet supplement market demand in North America.

The players operating in the global pet supplement market have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Ark Natural Company, Bayer AG. Food Science Corporation, Kemin Industries, Nestle S.A, Novotech Nutraceuticals, Inc., Now Health Group, Inc., Nutramax Laboratories, Inc., and Virbac andZoetis, Inc.. 

Key Benefits For Stakeholders

  • The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size and segmentation assist to determine the prevailing pet supplement market opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the pet supplement industry.

Pet Supplement Market Report Highlights

Aspects Details
BY PET
  • Dog
  • Cat
  • Freshwater Fish
  • Others
BY TYPE
  • MULTIVITAMINS
  • SKIN & COAT
  • HIP & JOINT
  • PREBIOTICS & PROBIOTICS
  • CALMING
  • OTHERS
BY SOURCE
  • ORGANIC
  • CONVENTIONAL
BY DISTRIBUTION CHANNEL
  • OFFLINE
  • ONLINE
BY REGION
  • NORTH AMERICA  (US, CANADA, MEXICO)
  • EUROPE  (GERMANY, UK, FRANCE, RUSSIA, ITALY, SPAIN, REST OF EUROPE)
  • ASIA PACIFIC  (CHINA, INDIA, JAPAN, AUSTRALIA, SOUTH KOREA, REST OF ASIA-PACIFIC)
  • LAMEA  (LATIN AMERICA, MIDDLE EAST, AFRICA)
Key Market Players ARK NATURALS COMPANY, BAYER AG, FOOD SCIENCE CORPORATION, KEMIN INDUSTRIES, NESTLE S.A, NOVOTECH NUTRACEUTICALS, INC, NOW HEALTH GROUP, INC, NUTRAMAX LABORATORIES, INC, VIRBAC, ZOETIS INC
 

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The global pet supplement market is expected to offer remunerative business opportunities in the developing economies such as India and China. This is attributed to increase in adoption of pets specially dogs and cats and awareness regarding various pet care and pet grooming products such as supplements, medicines, and nutraceuticals.

Manufacturers are focusing on premium and super-premium pet supplements, including natural and organic-based supplements, which have been gaining considerable traction in the developed countries such as the U.S., Russia, Spain, and Italy. U. Furthermore, pet supplement manufacturing companies are displaying the transparency of ingredients, which are added in the product, as majority of consumers choose products by reading labels. In addition, consumers prefer products with organic and plant-based ingredients. Moreover, study on pet behavior and pet diseases is further expected to broaden the scope of pet supplement market during the forecast period.

Furthermore, rise in rate of internet penetration around the major parts of the world makes way for manufacturers to initiate several key online marketing programs. These online platforms are the easiest ways to create awareness about the benefits of pet supplements with respect to various problems associated with baby pets and well grown pets.

Key players in the market have adopted product launch, continuous innovation, and acquisition as their key developmental strategies to cater to the rising demands for pet supplements. Due to growing demand for vegan and organic pet food and supplements, most of the companies strengthen their product portfolio. For instance, Carnivore Meat Company, the maker of Vital Essentials pet food and treat products, on June 30, 2020 launched a new line of freeze-dried raw pet nutrition products named Nature’s Advantage. The brand’s first product is a freeze-dried beef treat for dogs, formulated without artificial ingredients or additives.

However, the existing challenges such as close substitutes and lack of awareness regarding the pet supplements benefits, are expected to hamper the growth of the pet supplements market during the forecast period. Furthermore, People are usually give human foods such as white rice, dairy products, fish, chicken and peanut butter instead of recommended pet food and supplements, which likely to hinder the growth of market.

 

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FREQUENTLY ASKED QUESTIONS?

A. The forecast period considered in this report is 2021-2027

A. The pet supplement market was valued at $596.8 million in 2019.

A. The pet supplement market was valued at $596.8 million in 2019, and is estimated to reach $822.6 million by 2027, growing at a CAGR of 7.3% during the forecast period.

A. Ark Natural Company, Bayer AG. Food Science Corporation, Kemin Industries, Nestle S.A are some of the top companies holding major share in the pet supplement market.

A. Calming pet supplement is the most influencing segment growing in the pet supplement market report.

A. Organic and natural pet supplements are the key markets trending in the pet supplement market.

A. North America holds the maximum market share of the pet supplement market.

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