Pet Dietary Supplement Market
Pet Dietary Supplement Market (Pet: Dog, Cat, Horse, and Others; Supplement: Glucosamine, Omega 3 Fatty Acids, Probiotics & Prebiotics, Multivitamins, Antioxidants, Proteins & Peptides, and Others; Ingredient: Fish, Meat & Animal Derivatives, Dairy Products & Eggs, Vegetables, Cereals & Cereal By-products, and Others; Form: Tablets & Capsules Derivatives, Soft Gels & Gummies, Liquids, Powders, and Others; Application: Skin & Coat, Joint Health, Liver, Gastrointestinal Tract, Kidney Support, Balanced Diet, and Others; and Distribution Channel: Online and Offline) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
- Consumer Goods & Services
- 344 Pages
Pandemic-fueled Concerns about Pet Immunity Translate into Revenue Opportunities amid COVID-19 Crisis
The COVID-19 pandemic has led to a boom in the consumption of dietary supplements. Similar case is being attributed to pets where the pet dietary supplement market leaped to significant levels in 2020 from 2019. However, the consumption of unregulated products is not advisable during the coronavirus outbreak, owing to restricted movement of veterinarians and disruption in medical supplies.
Pet owners are paying close attention to the health and wellness of their pets during the ongoing COVID-19 outbreak. Pandemic-fueled concerns about pet immunity are translating into revenue opportunities for manufacturers in the pet dietary supplement market. As such, the CDC (Centers for Disease Control and Prevention) has reflected a small number of pets contracting coronavirus from people, but are less likely to spread it to humans.
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Bladder Stone Development, Mineralization of Soft Tissues Hinder Calcium Supplement Sales
Calcium supplements are very effective in pets when used appropriately to treat low blood calcium and satisfy the daily dietary intake requirements of dogs. However, potential side effects of calcium supplements involve constipation. Hence, companies in the pet dietary supplement market are creating awareness about prevention for high calcium doses, which may lead to bladder stone development, bone development abnormalities, and mineralization of soft tissues.
Pet owners are seen scrutinizing pet products more closely. Manufacturers in the pet dietary supplement market are gaining awareness that consumers are judging products on the basis of nutritional content, functional benefits, and even packaging.
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Clean Label, Functional Ingredients Improve Joint Health of Pets
Companies in the pet dietary supplement market are focusing on solving issues of pet allergy by acquiring proficiency in the use of clean label and functional ingredients. Curcumin is being used to enhance joint health in pets. This is evident, since consumers are on the lookout for supplements that reduce inflammation activity in joints. Thus, manufacturers in the pet dietary supplement market are boosting their output capacities in products meant for cats, as they are the ones that are most prone to joint pain.
Turmeric and curcumin products are growing popular among large animals such as horses who are also prone to joint pain. High propensity of joint injuries and joint issues in horses require large doses of supplements.
Professional Animal Industry Creates Demand for Specialty Product Formulations
Stakeholders in the pet dietary supplement market are unlocking growth opportunities in the professional animal industry. Competitive animals such as racehorses and search & rescue dogs require special nutrition. Hence, manufacturers are increasing their R&D efforts to tailor specialty formulations for the professional animal industry.
The high supplementation diet is being preferred for animals in the professional animal industry. Such diets are associated with high values of erythrocytes and hemoglobin in dogs as compared to those receiving low supplementation diet. Companies in the pet dietary supplement market are increasing the production capacities to offer high supplementation diet to pets, which holds promising potentials to boost in energy production of professional animals. Protein-based fortification and supplementation are effective ways to meet dietary needs of professional animals.
Exponential Growth in Online Sales Creates Revenue Opportunities for Manufacturers
eCommerce is creating value grab opportunities for companies in the pet dietary supplement market, since pet owners are seeking human-quality ingredients online. Pet owners are treating pet food and supplements, as the first line of defense against ailments. Manufacturers in the pet dietary supplement market are increasing their focus in functional ingredients in products that demonstrate prevention, maintenance, and treatment of specific pet health issues.
Companies in the pet dietary supplement market are witnessing an explosion in online sales through websites such as Amazon and pet-specific shopping sites. Pet owners are using the Internet to become more informed about pet care. Manufacturers are gaining a strong research base in latest ingredients that have the potential to meet pet’s changing health and wellness needs.
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Understandable fear and anxiety among pet owners have led to a drastic spike in pet dietary supplement sales amid the COVID-19 outbreak. Calcium supplements are regulated by the FDA (Food and Drug Administration), which have led to its credibility for treating low blood calcium in pets. However, high doses of calcium supplements might lead to change in urination habits and lack of appetite. Hence, companies in the pet dietary supplement market are recommending consumers to seek the veterinarian’s consultation for calcium supplement consumption, since doses are dependent on age, size, and ailment parameters of pets. Functional ingredients are bringing about a significant change in the dietary supplement industry for professional animals.
Pet Dietary Supplement Market: Overview
- According to Transparency Market Research’s latest research report on the global pet dietary supplement market for the historical period 2017–2019 and the forecast period 2021–2031, the pet humanization phenomenon across the globe and increase in pet population, etc. are factors expected to boost the global pet dietary supplement market during the forecast period
- In terms of revenue, the global pet dietary supplement market is estimated to exceed value of US$ 6.9 Bn by 2031, expanding at a CAGR of ~6% during the forecast period
Rise in Pet Humanization Phenomenon Globally and Increase in Pet Population to Drive Pet Dietary Supplement Market
- In recent years, increase in pet ownership due to altering cultural and socioeconomic factors is influencing the growth of the pet dietary supplement market. Changes in consumer lifestyles and rising disposable income have also spurred the adoption of pets. The way pet owners treat their pets as a family member or even as a substitute to children means that pet health has become more important. This is influencing the expansion of pet products, such as dietary supplements. Increasing awareness about pet nutrition as per age, weight, breed, and physical activity is also one of the factors responsible for the popularity of pet dietary supplements to maintain the overall health and growth of pets.
- Pet owners deliver complete nutrition in the form of pet dietary supplements to their pets to avoid the risk of unwanted health conditions and deal with health related issues, such as arthritis joints, skin coating, kidney support, gastrointestinal tract issue, and ensure a balanced diet
- Nowadays, the age of pets is becoming longer similar to their human guardians, albeit, developing age-related issues. Veterinary and pet nutritionists recommend owners to opt for pet dietary supplements to maintain the overall health of their pets, as owners take preventive steps to avoid unwanted health issues in their pets. Increase in pet population all over the globe is simultaneously increasing pet ownership. This is likely to promote the health and wellness of pets and promote the sales of pet dietary supplements in the upcoming years.
Evolution of eCommerce Industry to Generate Lucrative Opportunities for Pet Dietary Supplement Manufacturers & Distributors
- Boom of the eCommerce industry has created huge opportunities for manufacturers and distributors of pet dietary supplements. Producers and suppliers of pet dietary supplements are focusing on selling their products on various eCommerce websites in order to cater to a comprehensive range of customers across the world.
- Online sales offer customers a wide array of products on several eCommerce portals, such as Chewy, Amazon, and Walmart, etc. Online reviews and feedback on pet dietary supplements also help them to choose the best product or brand available.
Pet Dietary Supplement Market: Competition Landscape
- Detailed profiles of manufacturers of pet dietary supplements have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global pet dietary supplement market are
- Virbac Corporation
- General Nutrition Centers, Inc.
- Ceva Sante Animale S.A.
- Nutramax Laboratories, Inc.
- Makers Nutrition, LLC
- Beaphar BV, Bayer AG
- Central Garden & Pet Company
- Unicharm Corporation, and Neoterica GmbH
Pet Dietary Supplement Market: Key Developments
- Key providers of pet dietary supplements such as Virbac Corporation, General Nutrition Centers, Inc., Beaphar BV, and Bayer AG are focusing on research & development activities and expansion of product portfolio to attract more customers. Some other key developments in the global pet dietary supplement market are highlighted below:
- Virbac Corporation aims at making pet supplements with respect to the carnivorous diet of dogs and cats, and make them available in new countries, such as Colombia
- In 2020, Makers Nutrition, LLC focused on offering innovative supplements to users with value-added services by enhancing the overall product quality and attractive packaging design. The company is also promoting itself as a prominent player in the industry by offering a wide range of pet dietary supplements.
- In February 2019, Nutramax Laboratories Veterinary Sciences, Inc. expanded its Imuquin line with the launch of Imuquin Cat, an immune health supplement for cats that are six weeks or older
- In the global pet dietary supplement market report, we have discussed individual strategies, followed by company profiles of providers of pet dietary supplement. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global pet dietary supplement market.
Pet Dietary Supplement Market – Scope of the Report
A new study on the global pet dietary supplement market has been published by Transparency Market Research (TMR). It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global pet dietary supplement market across the globe. TMR’s study offers valuable information about the global pet dietary supplement market to illustrate how the market would grow during the forecast period, 2021–2031.
Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR), have been elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global pet dietary supplement market during the forecast period.
An extensive analysis of business strategies of leading market players has also been featured in TMR’s study on the global pet dietary supplement market. This can help readers understand principal factors to foresee growth in the global pet dietary supplement market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global pet dietary supplement market, which is expected to guide market players in making apt decisions in the future.
Key Questions Answered in TMR’s Pet Dietary Supplement Market Study
- What are the key factors influencing the pet dietary supplement market in each region?
- What will be the CAGR of the global pet dietary supplement market between 2021 and 2031?
- What is the future scope and current trends in terms of supplements and forms of the global pet dietary supplement market?
- What is the revenue of the global pet dietary supplement market based on the respective segments?
- Which are the key strategies used by top players of the global pet dietary supplement market?
- Which are the leading companies in the global pet dietary supplement market?
Research Methodology – Pet Dietary Supplement Market
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global pet dietary supplement market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global pet dietary supplement market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the pet dietary supplement market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from pet dietary supplement industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global pet dietary supplement market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the global pet dietary supplement market more reliable and accurate.
Pet Dietary Supplement Market – Segmentation
TMR’s study on the global pet dietary supplement market includes information categorized into various sections - pet, supplement, ingredient, form, application, distribution channel, and region. Changing industry trends and other crucial market dynamics associated with these sections of the pet dietary supplement market have been discussed in detail.