NEW YORK, Sept. 28, 2023 /PRNewswire/ — The pet dietary supplements market size is expected to grow by USD 914.46 million between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of about 5.9% during the forecast period. The market is segmented by End-user (Dogs, Cats, and Others), Product (Joint-health, Skin and coat, Gastrointestinal tract, Liver and kidney, and Others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). Rising pet adoption globally is driving the pet dietary supplements market. According to most pet owners, pets have a positive impact on their lives. Around 90% of dog owners believe that their dogs make a great contribution to their physical and mental health and according to the National Pet Ownership Survey of the American Pet Products Association (APPA) 2020-2021, more than 67% of US households, or 84.9 million households, own at least one pet in their home. Hence, such factors drive the growth of the pet dietary supplements market during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the pet dietary supplements market: Ark Naturals Co., AVIBO FEED ADDITIVES, Beaphar Beheer BV, Bimini LLC, Boehringer Ingelheim International GmbH, Elanco Animal Health Inc., FoodScience LLC, Health and Happiness International Holdings Ltd., Kemin Industries Inc., Makers Nutrition LLC, NBF Lanes Srl, Nestle SA, NOW Health Group Inc., Nutramax Laboratories Inc., Only Natural Pet, Pet Honesty, Supplement Manufacturing Partner, Virbac Group, Vox Nutrition Inc., and Zoetis Inc.
• Pet Dietary Supplements Market is fragmented in nature.
• Market to observe 5.45% YOY growth in 2023.

Market Dynamics:

Trend

• Increasing the use of healthy ingredients in pet dietary supplements is an emerging pet dietary supplements market trend.
• The major USP for packaged foods in mature markets such as North America and Western Europe are healthy ingredients.
• This is because consumers know about the effects of the food they eat and thus, pet owners are looking for ways to properly label products, and read and analyze nutrition facts for healthier ingredients before purchasing.
• To cater to this specific consumption behavior of pet owners, market players introduce health-promoting ingredients that ensure balanced nutrition and the overall health of the pets.
• Hence, such trends fuel the growth of the pet dietary supplements market during the forecast period.

Challenge

• Concerns regarding potential risks associated with pet dietary supplements challenge the growth of the pet dietary supplements market.
• There is an increase in the use of certain pet food supplements which has raised some concerns. Such issues relate to the general methods used to determine the safety of pet food supplements.
• A safe production of veterinary dietary supplements has no strict regulations and thus, certification of the safety of supplements to animal feed on the market requires clearly and precisely defined rules.
• Hence, such challenges impede the growth of the pet dietary supplements market during the forecast period.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report

Keg Segments:

The dogs segment will be significant during the forecast period. Dogs become familiar with human behavior and emotions and can understand words and interpret voices, gestures, and body language thus are the most popular and commonly owned pets. They have an average lifespan of 10 to 12 years and often experience health problems as they age. As they age, veterinarians often prescribe dog food supplements for pet owners. This paired with dogs being the most common pets fuels the growth of the dog segment of the pet dietary supplements market during the forecast period. Get a glance at the market contribution of the segments, Request a Free Sample

Related Reports:

The pet food market size is estimated to grow at a CAGR of 5.71% between 2022 and 2027. The market size is forecast to increase by USD 35.75 billion. 

The Pet Wearable Market size is estimated to grow at a CAGR of 13.66% between 2022 and 2027. The market size is forecast to increase by USD 2,167.48 million.

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Product

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: [email protected]

Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/pet-dietary-supplements-market-size-to-increase-by-usd-914-46-million-during-2022-2027–rising-pet-adoption-globally-to-drive-the-growth—technavio-301940704.html

SOURCE Technavio

Featured image: Megapixl © Hhltdave5

Disclaimer