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Pet Supplements Market Size, Share, Forecast, & Trends Analysis by Type (Probiotics & Prebiotics, Antioxidant), Form (Pills/Tablets), Source, Pet Type (Dog, Cat), Function (Hip & Joint, Weight Management), Distribution Channel (Online) - Global Forecast to 2031
Report ID: MRFB - 1041391 Pages: 280 Nov-2024 Formats*: PDF Category: Food and Beverages Delivery: 24 to 72 Hours Download Free Sample ReportThe growth of this market is driven by the increasing pet ownership, growing awareness of pet health, and humanization of pets and easy availability of pet supplements. Moreover, the growing demand for organic and natural pet supplements and emerging economies in Asia-Pacific and Latin America are expected to create growth opportunities for the stakeholders in this market. In addition, customizable supplement options tailored to specific pet needs and continuous expansion of online retailing and e-commerce platforms are prominent trends in the pet supplements market.
The concept of pet humanization encompasses treating pets with the same care and attention as human family members. This includes providing high-quality diets and health supplements to meet specific needs, such as joint health, anxiety management, and overall vitality.
Nowadays, pet owners are more aware of the health benefits of dietary supplements. The rise of digital media and the availability of information about pet nutrition and wellness have contributed to this awareness. Pet owners now recognize the potential of supplements to address specific health concerns, such as joint pain, digestive issues, and anxiety. This awareness allows them to make proactive decisions regarding their pets' health, which is expected to support the growth of the pet supplement market. According to an American Pet Products Association survey, in 2022, 48% of dog owners and 32% of cat owners reported an increased use of vitamins and supplements compared to 34% of dog owners and 20% of cat owners in 2018. Furthermore, in 2022, calming toys were the most popular, with 29% of dog owners and 27% of cat owners using them. The calming supplements, chews, and treats were the second most popular, with 21% of dog owners and 15% of cat owners using them, compared to just 5% and 4%, respectively, in 2018.
Moreover, there is an increasing preference for premiumization in pet products. As consumers are willing to pay more for high-quality, organic, and natural products for themselves, they are extending this mindset to their pets also. Pet supplements that boast high-quality ingredients, such as vitamins, minerals, and herbal extracts, are gaining popularity. This premiumization reflects a broader consumer shift towards health-conscious choices, further driving the demand.
Additionally, the availability of pet supplements in both online and offline stores supports market growth. Major channels, such as pet specialty stores, veterinary clinics, and e-commerce platforms, provide a wide range of supplement products, making it convenient for pet owners to find what they need. Furthermore, the rise of e-commerce has particularly enhanced accessibility, with a variety of options supporting the growth of this market.
Therefore, pet humanization and the easy availability of supplements are expected to drive the demand for pet supplements.
More households have adopted pets in recent years, particularly dogs and cats, driven by a need for companionship, emotional support, and the therapeutic benefits of pet ownership. Pets bring unconditional love, alleviate loneliness, and even relieve stress and anxiety. As more individuals realize the benefits, the demand for pet adoption has increased.
With the increasing pet ownership and responsibilities, pet owners are becoming increasingly proactive about their pets' health, seeking ways to enhance their quality of life. This has led to a notable shift in the pet care industry, where supplements—ranging from vitamins and minerals to joint health products and probiotics—are now viewed as essential components of pet care. According to the APPA, in 2023, the U.S. pet industry expenditure was USD 147 billion, an increase of 7.5% compared to the previous year. Many owners see these products as preventive measures, helping to mitigate health issues before they arise, particularly in aging pets.
Therefore, the increasing pet adoption is expected to boost the demand for pet supplements.
Pet owners are increasingly prioritizing health and wellness. They are shifting towards products that align with their values, particularly those that are free from artificial additives and chemicals. This trend is fueled by a greater awareness of the benefits of holistic nutrition for pets, as well as concerns about long-term health impacts associated with synthetic ingredients. According to the American Pet Products Association survey, in 2022, 20% of dog owners and 19% of cat owners purchase natural pet food; 14% of dog and cat owners purchase grain-free diets; 11% of dog and cat owners purchase organic pet food; 8% of dog owners and 9% of cat owners purchase limited-ingredient diets; and 10% of dog owners and 12% of cat owners purchase meal mixers.
This focus on natural alternatives not only enhances pet health but also strengthens the bond between pets and their owners. Therefore, the growing demand for natural and organic pet foods is further expected to support the growth of this market.
Based on the type, the pet supplements market is segmented into multivitamins, probiotics & prebiotics, glucosamine, antioxidants, and other supplements. In 2024, the multivitamins segment is expected to account for the largest share of the pet supplements market. This segment’s large market share is primarily due to the increasing inclination towards multivitamins to fill the nutritional gap of pets, the aging pet population, and the increasing focus on preventive healthcare. Multivitamins are known for their role in filling nutritional gaps, especially for pets on homemade or imbalanced diets. Pet owners seek these supplements to maintain optimal health and potentially extend their pets' lifespans.
However, probiotics & prebiotics is slated to register the highest CAGR during the forecast period of 2024–2031. The high growth of this segment is mainly driven by the gut health benefits. bolstered by rising incidences of digestive health concerns among pets. Probiotics and prebiotics are increasingly sought after for their benefits in promoting gut health. Many pets experience digestive problems, which can lead to discomfort and other health issues.
Based on geography, the pet supplements market is majorly segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the global pet supplements market, followed by Europe and Asia-Pacific. North America’s significant market share can be attributed to several key factors, such as an increasing pet ownership, rising pet health care expenditures, increasing awareness about the pet health, aging pet population, and growing demand for premium and customized pet supplements. In 2024, the U.S. is expected to account for a larger share of the pet supplements market in North America. According to the American Pet Products Association's National Pet Owners Surveys, in 2024, the U.S. pet industry expenditure is USD 150.6 billion, an increase of 10.1% of 136.8 billion in 2022. Furthermore, in 2023, the U.S. has 86.9 million families owns a pet.
However, the Asia-Pacific is further projected to register the highest CAGR during the forecast period of 2024–2031. The fast growth of this region is mainly driven by the increasing adoption of pets in China, South Korea, India, and Japan; growing health concerns of pet;, rising interest in natural and organic product;, rising disposable incomes; and increasing adoption of pets mainly among millennials.
The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last three to four years. Some of the key players operating in the pet supplements market are Mars Inc. (U.S.), Bayer AG (Germany), Blue Buffalo Company, Ltd (U.S.), FoodScience, LLC (U.S.), Four Paws Inc (U.S.), Nestlé Purina PetCare Company (U.S.), Nutramax Laboratories, Inc. (U.S.), Virbac Corporation (U.S.), The Higgins Group Corp. (U.S.), Novotech Nutraceuticals, Inc. (U.S.), Forza10 America (U.S.), NOW Health Group, Inc. (U.S.), Kemin Industries, Inc. (U.S.), and Zoetis Services LLC (U.S.).
Particulars |
Details |
Number of Pages |
280 |
Format |
|
Forecast Period |
2024–2031 |
Base Year |
2024 |
CAGR (Value) |
7.5% |
Market Size by 2024 (Value) |
USD 2.83 Billion |
Market Size by 2031 (Value) |
USD 4.68 Billion |
Segments Covered |
By Type
By Form
By Source
By Pet Type
By Function
By Distribution Channel
|
Countries Covered |
North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Netherlands, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Indonesia, Malaysia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), and the Middle East & Africa (South Africa, Saudi Arabia, UAE, and the Rest of Middle East & Africa). |
Key Companies |
Mars Inc. (U.S.), Bayer AG (Germany), Blue Buffalo Company, Ltd (U.S.), FoodScience, LLC (U.S.), Four Paws Inc (U.S.), Nestlé Purina PetCare Company (U.S.), Nutramax Laboratories, Inc. (U.S.), Virbac Corporation (U.S.), The Higgins Group Corp. (U.S.), Novotech Nutraceuticals, Inc. (U.S.), Forza10 America (U.S.), NOW Health Group, Inc. (U.S.), Kemin Industries, Inc. (U.S.), and Zoetis Services LLC (U.S.). |
The global pet supplements market size was valued at $2.66 billion in 2023.
The market is projected to grow from $2.83 billion in 2024 to $4.68 billion by 2031.
The pet supplements market analysis indicates a significant growth to reach $4.68 billion by 2031, at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
The key companies operating in this market include Mars Inc. (U.S.), Bayer AG (Germany), Blue Buffalo Company, Ltd (U.S.), FoodScience, LLC (U.S.), Four Paws Inc (U.S.), Nestlé Purina PetCare Company (U.S.), Nutramax Laboratories, Inc. (U.S.), Virbac Corporation (U.S.), The Higgins Group Corp. (U.S.), Novotech Nutraceuticals, Inc. (U.S.), Forza10 America (U.S.), NOW Health Group, Inc. (U.S.), Kemin Industries, Inc. (U.S.), and Zoetis Services LLC (U.S.).
The major opportunities for the pet supplements market are the growing demand for organic and natural pet supplements and emerging economies in Asia-Pacific and Latin America
By region, North America holds the largest pet supplements market share in 2024. However, the Asia-Pacific region is expected to witness the fastest growth, driven by the increasing pet ownership from the countries like China, South Korea, Japan, and India.
The primary drivers of pet supplements market growth include increasing pet ownership, growing awareness of pet health, and humanization of pets and easy availability of pet supplements.
Published Date: Nov-2024
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