Key factors that are driving growth of the market are benefits offered by equine supplement products and increase in prevalence of diseases in equines. However, adverse effects exhibited by improper consumption of equine supplements are likely to hinder the Equine Supplement Products market growth.
Equine supplement products are frequently used by horse owners and caregivers to add additional nutrition to their horse’s diet. These supplements aid in preventing the deficiencies of the electrolytes, vitamins, minerals, as well as improve overall health of the horses, thereby balance their diet to improve their athletic performance. Owing to the advantages such as alleviating a health issue, preventing occurrence of health issues, and modifying the equine behavior, the equine supplement products have gained significant importance as a nutritional food.
Nutrients such as methionine, biotin, and zinc support the health of the equine family by improving the digestive health from probiotics. Moreover, the consumption of equine supplement products results in increased horn quality, develop healthier coat and skin among horses by enhancing the production of collagen and keratin. Also, equine supplement products help the horses to calm down their nervous system. In addition, some of the specific types of supplements help in better joint health with improved synovial fluid support.
The high-performing horses constantly burn-up their energy, and require higher-than regular levels of proteins, which is unable to receive from common feed. Thus, high-quality horse supplements such as equine supplement products enable horses to restore their reservoirs of adenosine triphosphates (ATPs), which are the primary molecules stimulating contractions in the horse muscles.
Thus, the advantages offered by balanced consumption of equine supplement products are likely to account for the growth of the market during the forecast years.
Based on supplements, the equine supplement products market is segmented into electrolytes/minerals, vitamins, proteins/amino acids, and enzymes. In 2021, the electrolytes/minerals by supplement segment accounted for the highest share of the market. Growth of this segment is attributed to demand for herbal equine supplements, increase in incidence of equine diseases, and surge in government initiatives. The same segment is estimated to register higher CAGR during the forecast period.
Based on application, the equine supplement products market is segmented into performance enhancement/recovery, join disorder prevention, and others. The performance enhancement/recovery segment held the largest share of the market in 2021 and join disorder prevention segment is anticipated to register the highest CAGR in the market during the forecast period.
The equine supplement products market, by distribution channel, is segmented into veterinary hospital pharmacies, retail pharmacies, and others. The veterinary hospital pharmacies and clinics segment held the largest share of the market in 2021, whereas the online segment is anticipated to register the highest CAGR of 4.6% in the market during the forecast period.
The key players such as Boehringer Ingelheim International GmbH; EQUINE PRODUCTS UK LTD.; Kentucky Equine Research; Lallemand, Inc.; Plusvital Limited; Purina Animal Nutrition LLC.; Vetoquinol SA; Virbac; Zoetis Inc.; and Cargill, Incorporated adopt several organic and inorganic strategies to enhance their revenue and market standings. For instance, in February 2020, Equine Products UK Ltd has launched No More Bute – a complementary feed supplement for horses containing bioavailable Curcumin. It has up to 185 times more bioavailability than native sourced Turmeric and Curcumin. Moreover, in June 2019, Boehringer Ingelheim partners with Constantia Flexibles to develop packaging solution for equine nutritional supplement, Nutraxin. The product packaged in the innovative CONSTANTIA Interactive packaging solution is currently available in Germany and the Netherlands.
The regional trends and factors influencing the Equine Supplement Products Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Equine Supplement Products Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 89.44 Million |
| Market Size by 2028 | US$ 115.93 Million |
| Global CAGR (2021 - 2028) | 3.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Supplements
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Equine Supplement Products Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Equine Supplement Products Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies - Equine Supplement Products Market
Global Equine Supplement Products market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In North America, the U.S. is the largest market for Equine Supplement Products. The market in the regions is driven by increase in the use of horses for sports activities, growing emphasis on overall equine health and wellness, and increase in the use of electrolytes supplements. In addition, the Asia Pacific is expected account for the fastest growth in the Equine Supplement Products market. An increasing awareness about Equine Supplement Products therapies through government support coupled with grow at a rapid pace due to rise in the use of horse feeds, especially for race horses and increase in the number of horse clubs in China is anticipated to offer lucrative opportunities for the growth of Asia Pacific equine supplement products market during the forecast period.
The feeding of horses, and other equines is referred to as equine nutrition. Effective and balanced feeding is an important part of proper horse care. Thus, anything provided to a horse in addition to a natural forage diet is referred to as an equine supplement. Grain is a supplement in the strictest sense of the word. However, the phrase has evolved to refer to any additional nutrients (such as vitamins and minerals, extra protein, energy, and so on) that are given to a horse's ration to make up for any deficiencies in the diet.
Benefits offered by equine supplement products and increase in prevalence of diseases in equines are the key factors driving the market growth. However, adverse effects exhibited by improper consumption of equine supplements are likely to hinder the market growth.