This report describes and explains the pet supplements market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global pet supplements market reached a value of nearly $2.2 billion in 2023, having grown at a compound annual growth rate (CAGR) of 6.46% since 2018. The market is expected to grow from $2.2 billion in 2023 to $3.1 billion in 2028 at a rate of 7.68%. The market is then expected to grow at a CAGR of 8.31% from 2028 and reach $4.6 billion in 2033.
Growth in the historic period resulted from increased pet population, strategic marketing and advertising campaigns promoting pet supplements and emerging markets growth. Factors that negatively affected growth in the historic period were high costs associated with pet supplements and pet bills.
Going forward, the increase in adoption of dogs, cats and other pets, increased spending on pet care, rising disposable incomes per capita and surge in e-commerce and retail sales will drive the growth. Factor that could hinder the growth of the pet supplements market in the future include potential side effects or adverse reactions associated with certain supplement formulations.
The pet supplements market is segmented by supplement type into essential fatty acids, probiotics, antioxidants, multivitamins, enzymes and other supplements. The probiotics market was the largest segment of the pet supplements market segmented by supplement type, accounting for 28.5% or $602.7 million of the total in 2023. Going forward, the multivitamins segment is expected to be the fastest growing segment in the pet supplements market segmented by supplement type, at a CAGR of 8.52% during 2023-2028.
The pet supplements market is segmented by product form into chewable, powder, capsules/tablets and other forms. The chewable market was the largest segment of the pet supplements market segmented by product form, accounting for 45.9% or $972.69 million of the total in 2023. Going forward, the powders segment is expected to be the fastest growing segment in the pet supplements market segmented by product form, at a CAGR of 8.92% during 2023-2028.
The pet supplements market is segmented by pet type into dogs, cats and other pets. The dogs market was the largest segment of the pet supplements market segmented by pet type, accounting for 48.3% or $1 billion of the total in 2023. Going forward, the cats segment is expected to be the fastest growing segment in the pet supplements market segmented by pet type, at a CAGR of 8.44% during 2023-2028.
The pet supplements market is segmented by distribution channel into online e-commerce and retail stores. The retail stores market was the largest segment of the pet supplements market segmented by distribution channel, accounting for 74.6% or $1.6 billion of the total in 2023. Going forward, the online e-commerce segment is expected to be the fastest growing segment in the pet supplements market segmented by distribution channel, at a CAGR of 8.71% during 2023-2028.
The pet supplements market is segmented by application into skin and coat, hip and joint, digestive health and other applications. The hip and joint market was the largest segment of the pet supplements market segmented by application, accounting for 37.7% or $797.5 million of the total in 2023. Going forward, the skin and coat segment is expected to be the fastest growing segment in pet supplements market segmented by application, at a CAGR of 8.71% during 2023-2028.
North America was the largest region in the pet supplements market, accounting for 38% or $803.8 million of the total in 2023. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the pet supplements market will be Asia-Pacific and North America where growth will be at CAGRs of 8% and 7.84% respectively. These will be followed by Western Europe and Eastern Europe where the markets are expected to grow at CAGRs of 7.78% and 7.5% respectively.
The global pet supplements market is concentrated, with a few players operating in the market. The top ten competitors in the market made up 46.69% of the total market in 2022. Nestlé S.A. was the largest competitor with a 15.94% share of the market, followed by Mars Inc. with 11.38%, Virbac with 10.71%, Nutramax Laboratories, Inc. with 2.67%, Zoetis Inc. with 2.25%, NOW Foods with 1.16%, Hill's Pet Nutrition Inc. with 1.11%, Zesty Paws with 0.95%, FoodScience LLC with 0.40% and Pet Honesty with 0.12%.
The top opportunities in the pet supplements market segmented by supplement type will arise in the probiotics segment, which will gain $291 million of global annual sales by 2028. The top opportunities in the pet supplements market segmented by product form will arise in the chewable segment, which will gain $440.3 million of global annual sales by 2028. The top opportunities in the pet supplements market segmented by pet type will arise in the dogs segment, which will gain $446 million of global annual sales by 2028. The top opportunities in the pet supplements market segmented by distribution channel will arise in the retail stores segment, which will gain $670.1 million of global annual sales by 2028. The top opportunities in the pet supplements market segmented by application will arise in the hip and joint segment, which will gain $357.5 million of global annual sales by 2028. The pet supplements market size will gain the most in the USA at $295 million.
Market-trend-based strategies for the pet supplements market include innovative product developments with focus on natural sources, strategic collaborations and partnerships to expand reach and capabilities and launch of innovative plant-based and vegan supplements.
Player-adopted strategies in the pet supplements market include focus on strengthening its operational capabilities through acquisitions, strengthening its operational capabilities through new product developments and its operational capabilities through new facility expansion.
To take advantage of the opportunities, the analyst recommends the pet supplements companies to focus on natural treat products, focus on plant-based supplements, expand in emerging markets, continue to focus on developed markets, focus on strategic collaborations, provide competitively priced offerings, participate in trade shows and events, focus on integrated promotional strategies and focus on tailored solutions for end-users.
The global pet supplements market reached a value of nearly $2.2 billion in 2023, having grown at a compound annual growth rate (CAGR) of 6.46% since 2018. The market is expected to grow from $2.2 billion in 2023 to $3.1 billion in 2028 at a rate of 7.68%. The market is then expected to grow at a CAGR of 8.31% from 2028 and reach $4.6 billion in 2033.
Growth in the historic period resulted from increased pet population, strategic marketing and advertising campaigns promoting pet supplements and emerging markets growth. Factors that negatively affected growth in the historic period were high costs associated with pet supplements and pet bills.
Going forward, the increase in adoption of dogs, cats and other pets, increased spending on pet care, rising disposable incomes per capita and surge in e-commerce and retail sales will drive the growth. Factor that could hinder the growth of the pet supplements market in the future include potential side effects or adverse reactions associated with certain supplement formulations.
The pet supplements market is segmented by supplement type into essential fatty acids, probiotics, antioxidants, multivitamins, enzymes and other supplements. The probiotics market was the largest segment of the pet supplements market segmented by supplement type, accounting for 28.5% or $602.7 million of the total in 2023. Going forward, the multivitamins segment is expected to be the fastest growing segment in the pet supplements market segmented by supplement type, at a CAGR of 8.52% during 2023-2028.
The pet supplements market is segmented by product form into chewable, powder, capsules/tablets and other forms. The chewable market was the largest segment of the pet supplements market segmented by product form, accounting for 45.9% or $972.69 million of the total in 2023. Going forward, the powders segment is expected to be the fastest growing segment in the pet supplements market segmented by product form, at a CAGR of 8.92% during 2023-2028.
The pet supplements market is segmented by pet type into dogs, cats and other pets. The dogs market was the largest segment of the pet supplements market segmented by pet type, accounting for 48.3% or $1 billion of the total in 2023. Going forward, the cats segment is expected to be the fastest growing segment in the pet supplements market segmented by pet type, at a CAGR of 8.44% during 2023-2028.
The pet supplements market is segmented by distribution channel into online e-commerce and retail stores. The retail stores market was the largest segment of the pet supplements market segmented by distribution channel, accounting for 74.6% or $1.6 billion of the total in 2023. Going forward, the online e-commerce segment is expected to be the fastest growing segment in the pet supplements market segmented by distribution channel, at a CAGR of 8.71% during 2023-2028.
The pet supplements market is segmented by application into skin and coat, hip and joint, digestive health and other applications. The hip and joint market was the largest segment of the pet supplements market segmented by application, accounting for 37.7% or $797.5 million of the total in 2023. Going forward, the skin and coat segment is expected to be the fastest growing segment in pet supplements market segmented by application, at a CAGR of 8.71% during 2023-2028.
North America was the largest region in the pet supplements market, accounting for 38% or $803.8 million of the total in 2023. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the pet supplements market will be Asia-Pacific and North America where growth will be at CAGRs of 8% and 7.84% respectively. These will be followed by Western Europe and Eastern Europe where the markets are expected to grow at CAGRs of 7.78% and 7.5% respectively.
The global pet supplements market is concentrated, with a few players operating in the market. The top ten competitors in the market made up 46.69% of the total market in 2022. Nestlé S.A. was the largest competitor with a 15.94% share of the market, followed by Mars Inc. with 11.38%, Virbac with 10.71%, Nutramax Laboratories, Inc. with 2.67%, Zoetis Inc. with 2.25%, NOW Foods with 1.16%, Hill's Pet Nutrition Inc. with 1.11%, Zesty Paws with 0.95%, FoodScience LLC with 0.40% and Pet Honesty with 0.12%.
The top opportunities in the pet supplements market segmented by supplement type will arise in the probiotics segment, which will gain $291 million of global annual sales by 2028. The top opportunities in the pet supplements market segmented by product form will arise in the chewable segment, which will gain $440.3 million of global annual sales by 2028. The top opportunities in the pet supplements market segmented by pet type will arise in the dogs segment, which will gain $446 million of global annual sales by 2028. The top opportunities in the pet supplements market segmented by distribution channel will arise in the retail stores segment, which will gain $670.1 million of global annual sales by 2028. The top opportunities in the pet supplements market segmented by application will arise in the hip and joint segment, which will gain $357.5 million of global annual sales by 2028. The pet supplements market size will gain the most in the USA at $295 million.
Market-trend-based strategies for the pet supplements market include innovative product developments with focus on natural sources, strategic collaborations and partnerships to expand reach and capabilities and launch of innovative plant-based and vegan supplements.
Player-adopted strategies in the pet supplements market include focus on strengthening its operational capabilities through acquisitions, strengthening its operational capabilities through new product developments and its operational capabilities through new facility expansion.
To take advantage of the opportunities, the analyst recommends the pet supplements companies to focus on natural treat products, focus on plant-based supplements, expand in emerging markets, continue to focus on developed markets, focus on strategic collaborations, provide competitively priced offerings, participate in trade shows and events, focus on integrated promotional strategies and focus on tailored solutions for end-users.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Pet Supplements Market - Macro Economic Scenario
9 Global Market Size and Growth
10 Global Pet Supplements Market Segmentation
11 Pet Supplements Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Other Major and Innovative Companies
23 Key Mergers and Acquisitions
24 Opportunities and Strategies
25 Pet Supplements Market, Conclusions and Recommendations
26 Appendix
Executive Summary
Pet Supplements Global Market Opportunities and Strategies to 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global pet supplements market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for pet supplements? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The pet supplements market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider pet supplements market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by supplement type, by product form, by pet type, by distribution channel and by application.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario - The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the pet supplements market.
- Global Market Size and Growth - Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis - Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by supplement type, by product form, by pet type, by distribution channel and by application in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies - Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities and Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations This section includes recommendations for pet supplements providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
1) by Supplement Type: Essential Fatty Acids; Probiotics; Antioxidants; Multivitamins; Enzymes; Other Supplements.2) by Product Form: Chewable; Powder; Capsules/Tablets; Other Forms.
3) by Pet Type: Dogs; Cats; Other Pets.
4) by Distribution Channel: Online E-Commerce; Retail Stores.
5) by Application: Skin and Coat; Hip and Joint; Digestive Health; Other Applications.
Key Companies Mentioned: Nestlé S.A.; Mars Inc.; Virbac; Nutramax Laboratories, Inc.; Zoetis Inc.
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; Canada; France; Germany; UK; Italy; Spain; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; pet supplements indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Nestlé S.A.
- Mars Inc.
- Virbac
- Nutramax Laboratories, Inc.
- Zoetis Inc.
- NOW Foods
- Hill's Pet Nutrition Inc.
- Zesty Paws
- FoodScience LLC
- Pet Honesty
- EBOS Group Limited
- Real Pet Food Co.
- CJ CheilJedang Corp.
- UNICHARM
- Inaba Petfood Co. Ltd.
- Drools Pet Food Private Limited
- Nestlé Purina Petcare Company
- Mars Petcare
- Hill's Pet Nutrition
- Zoetis Inc
- Bayer Animal Health
- The J.M. Smucker Company
- PetIQ, Inc.
- Petco Health and Wellness Company, Inc
- PetSmart, Inc.
- Grupo Molino Chacabuco
- Microsules Argentina Laboratory
- Agroindustrias Baires S.A.
- Laboratorio Drag Pharma Chile Invetec S.A
- Royal Canin
- Virbac
- Vetbiolix
- canina pharma GmbH
- PetCom Animal Nutrition GmbH & Co. KG
- Hill's Pet Nutrition GmbH
- Farmina
- Italfeed
- Buddy & Lola
- Pets Purest
- Wagateur
- Vet Planet Ltd.
- VetExpert
- Pet Factory SRL
- Nestle
- Zesty Paw LLC
- Comfort Click Ltd.
- Norbrook
- BreedMax Egypt
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 296 |
| Published | May 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 2.1 Billion |
| Forecasted Market Value ( USD | $ 4.6 Billion |
| Compound Annual Growth Rate | 8.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 48 |
