Pet Supplement Market is Expected to reach US$ 2.0 Billion by 2032 | CAGR of 5.2% during 2024-2032

IMARC Group has recently released a new research study titled “Pet Supplement Market Report by Pet Type (Dogs, Cats, and Others), Distribution Channel (Online, Offline), Source (Organic, Conventional), Application (Multivitamins, Skin and Coat, Hip and Joint, Prebiotics and Probiotics, Calming, and Others), and Region 2024-2032: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

The global pet supplement market size reached US$ 1.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.2% during 2024-2032. The market is experiencing steady growth driven by the growing trend of humanizing pets, increased pet ownership, advancements in veterinary sciences, expanding educational initiatives, innovative developments in these supplements, the rise of specialized retail outlets, and the growing occurrence of pet health issues.

Global Pet Supplement Market Trends:

Recent advances in veterinary medicine, creating a higher demand for supplements that cater to the health issues associated with aging, such as joint health, cognitive function, and immune support, are propelling the market growth. Additionally, the increasing prevalence of online shopping, making it easier for pet owners to access a wide variety of pet supplements, is boosting the market growth. Besides this, the recent development of new and innovative pet supplements, such as probiotics, cannabidiol (CBD)-infused products, and breed-specific supplements, which attract pet owners looking for specialized solutions for their pets, is driving the market growth. Furthermore, the growing concern about pet obesity and related health issues, which has led to a higher demand for supplements that aid in weight management, is fueling the market growth.

Request to Get the Sample Report: https://www.imarcgroup.com/pet-supplement-market/requestsample

Factors Affecting the Growth of the Pet Supplement Industry:

• Rising Pet Ownership:

The increasing number of households with pets is a primary driver of the pet supplement market growth. This trend is fueled by various factors, including changing family structures, the rise of nuclear families, and the increasing recognition of pets as companions that offer emotional support and improve mental health. Additionally, pets are considered integral family members whose health and well-being are of paramount importance. This shift in perception has led to a substantial increase in spending on pet care products, including supplements. Furthermore, the growing middle class in emerging economies, coupled with higher disposable incomes, which allows more people to afford pets and the products needed to care for them, is fueling the market growth.

• Humanization of Pets:

The humanization of pets is a transformative trend that has significantly influenced the pet supplement market. This cultural shift has led to a willingness among pet owners to invest in high-quality, premium products that promise to improve the health and longevity of their pets. Furthermore, pet owners are becoming more informed and discerning, seeking out supplements that are not only effective but also made from high-quality, natural ingredients. This trend is driven by the same health and wellness movements that affect human dietary choices, including organic, non-genetically modified organisms (GMOs), and clean-label products. Additionally, the emotional bond between pets and their owners, which encourages spending on products that enhance pet health and happiness, is strengthening the market growth.

• Awareness of Pet Health and Nutrition:

Rising awareness about pet health is another significant factor driving the growth of the pet supplement market. Pet owners today are becoming more knowledgeable about the health needs of their pets than ever before, thanks to the proliferation of information available through the internet, social media, and veterinary professionals. This increased awareness is leading to more informed decisions about pet care and a proactive approach to health maintenance. Furthermore, pet owners are keen to prevent health issues rather than just treat them, leading to a surge in demand for preventive supplements. Additionally, the rising awareness of specific health conditions, such as arthritis in older dogs or urinary issues in cats, which drives the market for targeted supplements, is acting as another growth-inducing factor.

Key Companies:

• Ark Naturals Company
• Elanco Animal Health Incorporated
• Boehringer Ingelheim International GmbH
• FoodScience Corporation
• Kemin Industries Inc.
• Nestlé S.A.
• Novotech Nutraceuticals Inc.
• NOW Foods
• Nutramax Laboratories Inc.
• VetriScience Laboratories
• Virbac
• Zoetis Inc.

Pet Supplement Market Report Segmentation:

By Pet Type:

• Dogs
• Cats
• Others

Dogs hold the majority of the market share due to their widespread popularity and higher likelihood of requiring diverse supplements for health maintenance.

By Distribution Channel:

• Online
• Offline

Offline accounted for the largest market share because pet owners often prefer purchasing supplements from physical stores where they can receive immediate advice and recommendations from experts.

By Source:

• Organic
• Conventional

Conventional represented the largest segment as they are widely available, cost-effective, and trusted by consumers for their proven efficacy.

By Application:

• Multivitamins
• Skin and Coat
• Hip and Joint
• Prebiotics and Probiotics
• Calming
• Others

Hip and joint hold the largest market shares due to the prevalence of arthritis and joint issues in aging pets, particularly dogs, which drives demand for supplements targeting these conditions.

Regional Insights:

• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa

North America's dominance in the market is attributed to the high pet ownership rates, significant disposable income, and heightened awareness of pet health and wellness in the region.

Speak to An Analyst: https://www.imarcgroup.com/request?type=report&id=3919&flag=C

Key Highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us                                                                     

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact us:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145