The pet supplements market size is projected to reach US$ 3.54 billion by 2031 from US$ 2.40 billion in 2023. The market is expected to register a CAGR of 5.0% in 2023–2031. The rising consumer preference towards natural ingredients in pet supplements is likely to be a key trend in the global pet supplements market. Nowadays, pet parents are checking the nutrients and additives included in pet supplements to ensure that their pets are getting the most appropriate and beneficial care. Thus, the rising awareness among pet parents regarding the benefits of natural ingredients has fueled the demand for natural pet supplements globally.
Pet Supplements Market Analysis
One of the major factors driving the growth of the pet supplement market is strategic initiatives by the key market players. The rising demand for nutrient-rich, premium, and personalized pet products has increased product innovations by pet supplement manufacturers. They are focusing on the development of innovative, safe, and premium quality pet supplements. Also, they are diversifying their product portfolios by launching a variety of pet supplement products with different forms and health benefits. For instance, in June 2024, ADM announced the European launch of seven turnkey pet product formulas designed for a market that increasingly prioritizes the holistic health of pets. Offered in soft chews and supplement powder sachet formats, these functional formulas feature highly sought-after wellness claims that are science-backed and compliant with European regulations, providing consumers with trusted options to support their pets' wellness journey.
Pet Supplements Market Overview
Pet supplements are products offering additional nutrients such as vitamins, trace elements, minerals, or a combination of these in different forms. Pet supplements help improve the immune system and reduce the risk of inflammation, cancer, heart disease, diabetes, and others. In addition, pet supplements also help to enhance the ability to fight problems such as bacterial infection, itchy skin, and environmental allergies and improve skin health. The pet supplement market is driven by factors such as increasing the adoption of pets and rising concerns about animal welfare. The global pet supplement market is segmented based on form, pet type, and distribution channel. Based on form, the market is segmented into chewable, powder, and others. The chewable segment held the largest share of the pet supplements market in 2023.
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Pet Supplements Market: Strategic Insights
Market Size Value in US$ 2,281.70 million in 2022 Market Size Value by US$ 3,200.77 million by 2028 Growth rate CAGR of 5.8% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Pet Supplements Market: Strategic Insights
| Market Size Value in | US$ 2,281.70 million in 2022 |
| Market Size Value by | US$ 3,200.77 million by 2028 |
| Growth rate | CAGR of 5.8% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Pet Supplements Market Drivers and Opportunities
Rising Number of Pet Owners to Favor Market Growth
In recent years, the increasing disposable income of people and the growing interest of people in pet adoption have supported the pet culture in many countries across the globe. The increasing pet ownership in various countries is driving the pet supplement market growth. Moreover, owing to the onset of the COVID-19 pandemic, many people were working from home and self-isolating; this change in lifestyle inspired many households to own pets. Many people felt safe with an animal companion that provided emotional and mental support during the pandemic.
Consumer Preferences for E-Commerce Platform– An Opportunity
In recent years, the use of e-commerce platforms has increased across the globe. A few of the key factors driving the sales of various products, including pet supplements, through e-commerce platforms are an increase in penetration of smartphones and the internet, a rise in the purchasing power of consumers, and convenient shopping experiences offered by these online retail platforms. Many people prefer online retail platforms to purchase pet supplements due to the availability of various products from different brands, detailed product descriptions, consumer ratings and reviews, discounts, offers, and home delivery services. During the COVID-19 outbreak, consumer inclination toward online shopping has increased. With the rising consumer preference for e-commerce platforms, pet supplement manufacturers are enhancing their online presence by selling their products through e-commerce platforms, such as Walmart, Amazon, and Lidl. Thus, increasing consumer preference for e-commerce platforms offeres a huge opportunity for pet supplement manufacturers to provide their products through e-commerce platforms and increase their customer base and profit margins.
Pet Supplements Market Report Segmentation Analysis
Key segments that contributed to the derivation of the pet supplements market analysis are form, pet type, and distribution channel.
- Based on form, the pet supplements market is divided into chewable, powder, and others. The chewable segment held a larger market share in 2023.
- By pet type, the market is segmented into dogs, cats, and others. The dogs segment held the largest share of the market in 2023.
- In terms of distribution channel, the market is divided into online and offline. The offline segment dominated the market in 2023.
Pet Supplements Market Share Analysis by Geography
The geographic scope of the pet supplements market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the pet supplements market in 2023. The North America pet supplements market is growing significantly due to the increasing pet humanization, which is boosting the demand for pet treats, food, and supplements. Also, the rising awareness about the high nutritional benefits of pet supplements is influencing consumers' purchasing decisions. Further, the rising awareness among pet parents regarding the benefits of natural ingredients is boosting the demand for natural pet supplements in North America.
Pet Supplements Market Report Scope
Pet Supplements Market News and Recent Developments
The pet supplements market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for pet supplements and strategies:
Mars Petcare is entering the supplements category by introducing Pedigree Multivitamins. This new product line consists of three types of soft chews specifically designed to meet the essential needs of pets. The Pedigree Multivitamins aim to support immunity, promote healthy digestion, and provide joint care for pets. (Source: Mars Petcare/Press Release, 2023)
- Native Pet has launched The Daily, a new all-in-one supplement for dogs that was developed over the past two years. (Nutraceuticals World, Company Website/News/2023)
Pet Supplements Market Report Coverage and Deliverables
The "Pet Supplements Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter's Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Form, Pet Type, and Distribution Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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