Pet Supplements Industry Overview
The global pet supplements market size is expected to reach USD 3.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.9% from 2022 to 2030. Increasing adoption of pets across the globe is driving the demand for pet supplements. For instance, according to the U.S. Pet Food Industry’s pet ownership study, pet ownership rose from 67.0% of households in 2018 to an all-time high of 70% in 2020 as confirmed by the American Pet Product Association APPA. These statistics foretell high market growth over the forecast period.
Pet supplements provide essential nutrients that help improve the immune system and reduce the risk of heart diseases, cancer, inflammation, and diabetes. In addition, these supplements such as fish oil, biotin, and amino acid improve skin health and enhance the ability to fight common problems, such as bacterial infection, itchy skin, and environmental allergies.
Pet Supplements Market Segmentation
Grand View Research has segmented the global pet supplements market based on pet type, form, application, distribution channel, and region:
Based on the Pet Type Insights, the market is segmented into Dogs, Cats and Others.
- The dogs segment dominated the market for pet supplements and held the largest revenue share of 43.2% in 2021. The segment is expected to maintain dominance over the forecast period.
- However, the cats’ segment is projected to register the fastest CAGR of 6.1% in the market for pet supplements from 2022 to 2030.
Based on the Form Insights, the market is segmented into Pills/Tablets, Chewables, Powders and Others.
- Chewables is one of the most preferred forms of supplements around the world, accounted for approximately 69.9% of global revenue in 2021.
- The powders segment is anticipated to register a faster CAGR of 6.6% from 2022 to 2030. Supplements in powder form are absorbed more quickly than tablets or pills, are easy to consume, and can be easily mixed into foods and beverages.
Based on the Application Insights, the market is segmented into Skin & Coat, Hip & Joint, Digestive Health and Others.
- The hip and joint-segment dominated the market for pet supplements and held the largest revenue share of more than 60.5% in 2021 and is expected to maintain its dominance over the forecast period.
- Many of the supplements pertaining to joints comes with soothing ingredient such as glucosamine and chondroitin which help protect the joints from severe wear and tear and also prevent arthritis.
- The skin and coat segment is projected to register the fastest CAGR of 6.3% during the forecast period from 2022 to 2030.
Based on the Distribution channel Insights, the market is segmented into Online and Offline.
- The offline distribution channel dominated the market for pet supplements and accounted for the largest revenue share of around 88.7% in 2021.
- The online distribution channel is anticipated to register a CAGR of 8.5% in the market for pet supplements from 2022 to 2030.
Pet Supplements Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- MEA
Key Companies Profile & Market Share Insights
The key players account for a significant share and have a strong presence across the globe. The market also comprises small-to-midsized players that offer a selected range of pet care products and mostly serve regional customers.
Some prominent players in the Pet Supplements market include
- Nestlé Purina Petcare
- Virbac
- Bayer AG
- NOW Foods
- Food Science Corporation
- Ark Naturals
- Zoetis Inc.
- Nutramax Laboratories, Inc.
- PetHonesty
- Zesty Paws
Order a free sample PDF of the Pet Supplements Market Intelligence Study, published by Grand View Research.
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