Global Pet Supplement Market Report and Forecast 2024-2032

Global Pet Supplement Market Outlook

The global pet supplement market attained a value of nearly USD 617.43 million in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR 7.5% to reach about USD 1,183.71 million by 2032.

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Increase in the Pet Adoption to Boost the Market Growth of Pet Supplement

The pet supplement industry is primarily driven by the increasing spending on pet care across the globe, and the overall growth in pet adoption. The market has further been positively influenced by the penetration of social media platforms, in developing countries, which promote the enhanced well-being of the pet owner. Further, rising disposable incomes, coupled with the increasing willingness of pet owners to spend more money on their pets’ food, is also catalysing the market growth of pet supplement. In addition to this, key players in the industry are constantly incorporating new methods or technologies to enhance their output as well as the quality of the pet supplements, thereby offering solutions that are more effective, better tasting, durable, and cure many health issues of pets. This is expected to facilitate the market growth over the forecast period.

Pet Supplement: Market Segmentation

Pet supplements generally refer to complementary pet food products made from plants or/and animal raw materials containing concentrated sources of nutrients to compensate for vitamin, protein, or mineral deficiencies, and it offers additional nutrients or functional ingredients. These pet supplements make for a vast range of snacks and treats for pets. It provides essential nutrients and promotes the overall well-being of pets, including dogs, cats, birds, reptiles, and others.

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The market can be broadly categorised on the basis of pets:

• Dog
• Cat
• Freshwater fish
• Other

The major types of pet supplements are:

• Multi-Vitamins
• Skin and Coat
• Hip and Joint
• Prebiotics and Probiotics
• Calming
• Others

On the basis of source, the market is segmented into:

• Organic
• Conventional

By distribution channel, the market is categorised into:

• Offline
• Online

The EMR report looks into regional markets of pet supplement like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Increasing Pet Adoption and Rising Concern for Animal Welfare to Augment the Market Growth

The pet supplement industry is being driven by the rising trend towards pet humanisation. Many pet owners are actively seeking to purchase high-quality, premium products for their pets. Further, the COVID-19 induced lockdowns further promoted the adoption of pets, since people felt isolated due to social distancing and during lockdowns. This rising adoption of pets influenced the demand for pet supplements positively, further promoting the market growth. Moreover, the increasing endorsements of veterinary supplements for the preservation of overall pet wellbeing are also boosting the pet supplement industry.

Furthermore, the trend of petting reptiles such as anole, leopard gecko, bearded dragon, tortoise, and turtle has increased substantially, due to their advantages like no shedding of fur, low maintenance, and no need for training. This has also propelled the market growth. The common belief among millennials, who make up the majority of pet owners, is that pets should be treated like little children, which has resulted in the rising demand for dietary supplements. Additionally, herbs and superfoods are being included in pet supplements, which is expected to help the market growth over the forecast period. Further, increasing consumer awareness regarding pet supplements and rising preference for organic pet food is also boosting the growth of the pet supplement industry.

Key Industry Players in the Global Pet Supplement Market

The report presents a detailed analysis of the following key players in the global pet supplement market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Ark Naturals Company
• Nutramax Laboratories, Inc.
• Kemin Industries, Inc.
• Nestle S.A
• Virbac 
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report