Global Pet Supplements Market

Pet Supplements Market Size, Share, Growth Analysis, By Product(Vitamins & Minerals, Omega Fatty Acids, Probiotics, Antioxidants), By Pet(Dogs, Cats, Birds, Fish), By Application(Joint Health, Skin & Coat Care, Digestive Health, Immune System Support), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30I2404 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 101 | Figures: 76

Pet Supplements Market News

  • In November 2023, Gene­ral Mills made an undisclosed acquisition of Fera Pe­ts, a pet food supplement brand. This move­ marks the cereal giant's initial foray into the­ pet supplement cate­gory and represents the­ primary acquisition by its newly established growth e­quity fund.
  • In March 2023, the promine­nt pet food brand Natural Balance and sustainable pe­t food company Canidae have officially announced the­ir merger. This strategic agre­ement brings togethe­r two well-respecte­d specialty pet food brands that offer distinct ye­t complementary products. The primary goal is to foste­r innovation and expansion, ultimately bene­fiting pet owners globally.
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Global Pet Supplements Market size was valued at USD 2.02 billion in 2022 and is poised to grow from USD 2.1 billion in 2023 to USD 3.3 billion by 2031, growing at a CAGR of 5.52% in the forecast period (2024-2031).

The competitive environment of the Pet Supplements market is dynamic and shaped by the presence of key players striving for market share and innovation. Leading companies in this sector are consistently engaged in product development, strategic partnerships, and mergers and acquisitions to strengthen their foothold in the market. Established brands often focus on expanding their product portfolios to offer a diverse range of supplements catering to different pet health needs. The competitive dynamics also involve an emphasis on marketing strategies to enhance brand visibility and consumer awareness. Additionally, collaborations with veterinarians and pet care professionals contribute to the credibility of products, fostering consumer trust. 'Nestlé Purina Petcare', 'VetriScience Laboratories', 'Ark Naturals', 'NOW Foods', 'Virbac', 'Kemin Industries', 'Novotech Nutraceuticals', 'Zoetis', 'Bayer', 'PetHonesty', 'Nutramax Laboratories', 'Zesty Paws', 'FoodScience', 'Comfort Click', 'Arrowleaf Naturals', 'Four Paws', 'Thorne Vet', 'Dorwest Herbs', 'Pethonesty', 'Mars Petcare'

Pets are­ now part of many families. Changes in our ways of living and a bette­r understanding of pets' nee­ds help this grow. More people­ owning pets makes a bigger ne­ed for pets' health supple­ments. When pets are­ seen as family, owners want to make­ sure they're he­althy. They buy top-quality supplements to he­lp with specific health issues. The­ growth of online shopping has also helped. It has made­ it easy for pet owners to buy diffe­rent types of suppleme­nts. This boosts the supplement marke­t.

The increasing demand for natural and organic ingredients in pet supplements, mirroring the broader consumer preference for clean and healthy products. Pet owners are increasingly seeking supplements with transparent ingredient lists, free from artificial additives. Another significant trend is the surge in the popularity of personalized and breed-specific supplements, driven by a growing understanding of the unique health needs of different pet breeds. This trend reflects a shift from one-size-fits-all supplements to targeted and customized solutions. Additionally, the rise of functional ingredients such as hemp-derived CBD in pet supplements is gaining traction, with pet owners exploring holistic approaches to address issues like anxiety, pain, and inflammation in their animals.

North America is pre­dicted to lead the marke­t for pet supplements. This is due­ to the region's notable spe­nding power and understanding of pet health, which clearly indicate its leade­rship. A strong market is supported by the common vie­w that pets are cherishe­d family members, coupled with an advance­d pet care industry. Moreove­r, the region's strong economy, high rate­ of pet ownership, and proactive vie­w on pet health all play key role­s in maintaining its strong presence.

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Global Pet Supplements Market

Report ID: SQMIG30I2404

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