The global pet supplements market size is expected to be worth around US$ 4.30 billion by 2030, according to a new report by Vision Research Reports.
The global pet supplements market size was valued at US$ 2.47 billion in 2020 and is anticipated to grow at a CAGR of 7.9% during forecast period 2021 to 2030.
Get Sample Copy of This Report (Including TOC, List of Tables & Figures, and Chart)@ https://www.visionresearchreports.com/report/sample/38670
|Market Size||USD 4.30 billion by 2030|
|Growth Rate||CAGR of 7.9% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Pet type, Distribution channel|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Nestlé Purina Petcare; VetriScience Laboratories; Ark Naturals; NOW Foods; Virbac; Kemin Industries, Inc.; Novotech Nutraceuticals, Inc.; Zoetis Inc.; Bayer AG; PetHonesty; Dechra Pharmaceuticals PLC; Nutramax Laboratories, Inc.|
Pet supplement sales soared as a result of increased consumer interest sparked by COVID-19, particularly in products that target immunity, anxiety, and overall wellness. When it comes to consumer buying patterns, joint health supplements are already at the top of the list, but hip and joint supplements are only one element of the senior pet health picture.
The growing numbers of aging dogs and cats are in need of an immune response, cardiac and cognitive support items, and anti-inflammatory and pain management aid, thanks to breakthroughs in veterinary treatment and pet owner interest in pet wellness and nutrition at an all-time high.
By Pet Type Analysis
the dogs segment accounted the market with a revenue share of over 47.0% in 2020. Dogs are the most popular pets in the world, with an incredibly high adoption rate. According to the American Pet Products Association’s 2019-2020 National Pet Owners Survey, 63.4 million households in the United States own a dog, with owners spending an average of USD 58 per year on dog vitamins.
vitamins and supplements may be given to around one-third of dogs and cats in the U.S. According to a 2006 study published in the Journal of the American Veterinary Medical Association, the most prevalent are multivitamins, supplements to assist arthritic joints, and fatty acids to minimize shedding and increase a coat’s gloss.
By Distribution Channel Analysis
The offline distribution channel segment led the market and accounted for a revenue share of more than 78.0%. For food and treats, pet owners have been gradually transitioning to online retail, but it wasn’t until 2020 that a fundamental shift toward online pet supplement commerce happened.
The availability of a wide range of worldwide brands, steep discounts, free delivery, and simple return policies are all enticing customers to shop. Online shops offer a diverse choice of products at varied rates, making it easier to suit the needs of a wide range of customers, particularly those on a budget.
By Regional Analysis
North America held the largest revenue share of over 40.0%. This regional market is being driven by an increase in the number of pet owners, the growing concerns over the wellbeing of pets, and increased knowledge among pet owners about various health hazards.
- Nestlé Purina Petcare
- Food Science Corporation
- Ark Naturals
- NOW Foods
- Kemin Industries, Inc.
- Novotech Nutraceuticals, Inc.
- Zoetis Inc. (Platinum Performance)
- Bayer AG
- Nutramax Laboratories, Inc.
- Manna Pro Products, LLC
- Honest Paws
- Garmon Corporation
- Only Natural Pet
- Dechra Pharmaceuticals PLC
- Pet Type
- Distribution Channel
- North America
- Asia Pacific
- Central & South America
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
Buy This Premium Research Report, click here@ https://www.visionresearchreports.com/report/cart/38670 or call: +1 9197 992 333