Pet Supplements Market Insights and Forecast By 2030

[sara James]

The global Pet Supplements Market is expected to reach USD 3.20 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 5.9% from 2023 to 2030. Increasing adoption of pets across the globe is driving the demand for pet supplements. For instance, according to the U.S. Pet Food Industry’s pet ownership study, pet ownership rose from 67.0% of households in 2018 to an all-time high of 70% in 2020 as confirmed by the American Pet Product Association APPA. These statistics foretell high market growth over the forecast period.

In addition, pet ownership is a common practice in various countries across the globe. For instance, according to statistics by the National Pet Owners Survey 2021-2022, 90.5 million U.S. families own a pet. With such pet ownership patterns in various countries, people are increasingly spending on pet supplements owing to their various health benefits. These supplements enhance concentration, focus, and energy levels in pets, strengthen their immune systems, and improve heart health.

The over-the-counter (OTC) segment dominated the market and is anticipated to show similar trends during the forecast period. Numerous over-the-counter pet supplements are available that either supports a particular aspect of a pet's health or provide specific nutrients. Moreover, these supplements are quite popular and are readily and easily available at a relatively affordable price. Additionally, a wide range of pet supplements is easily available through various distribution channels, including online retailers, supermarkets & hypermarkets, pet stores, and others.

The dogs segment held the largest revenue share in 2021 and is expected to maintain its dominance over the forecast period. Dogs are officially a man’s best friend, with more than half of the world's population owning a dog as a pet. Increasing health concerns and overcoming pets’ health issues have allowed consumers to opt for pet supplements with complete nutritious food, including vitamins and minerals. For instance, according to a study conducted by the non-profit organization Kinship Partners, in February 2021, nearly 77% of pet owners in the U.S. were concerned about their pets’ health, which has substantially fueled the growth of the market.

The pills/tablets segment is projected to witness a significant growth rate of 6.1% during the forecast period from 2023 – 2030. Pills/tablets offer a timed release of medication, which is helpful for pets with finicky stomachs. They are also easy to carry anywhere and extremely convenient. Such factors are driving the market growth for pet supplements in pill/tablets form. Product manufacturers are offering these pills/tablets in several flavors and distinctive odors, which makes it easier for pets to consume them, driving the segment growth.

Digestive health segment is predicted to grow at a considerable growth rate of 6.0% during the forecast period. A major health problem faced by dogs and cats is the improper functioning of the digestive system. Often, pets fall sick due to various allergies, sudden change in the diet, or infections; hence, customers are increasingly investing in supplements. Supplements that improve digestive health are commonly adopted by pet owners across the globe. For instance, in February 2021, Boss Dog brand launched new raw frozen meal products for dogs, which include digestive supplements and health solutions for pets.

The offline segment dominated the market and accounted for the largest revenue share in 2021. Increasing consumer interest in pet nutrition and diets is encouraging offline retailers to stock their shelves with high-quality supplements from high-end brands. Pet owners are much more aware of the ingredients in their pet supplements, and retailers are responding to that as well. For instance, Kroger has a pet department and sells a range of supplements concerning health issues such as anxiety, eye care, and hip and joint health.

The market is characterized by the presence of several well-established players, such as Nestlé, FOODSCIENCE, Ark Naturals, NOW Foods, Virbac, Zoetis, Bayer AG, Pet Honesty, Nutramax Laboratories, and Zesty Paws. These players account for considerable shares in the market and have a strong presence across the globe.

Related Press Release@ Pet Supplements Market Report

Pet Supplements Market Report Highlights

• Prescription segment is expected to register the fastest growth during the forecast period as they are safe, effective, and backed by clinical trials and scientific research, resulting in increased adoption and market growth
• The cat segment is projected to register the fastest growth over the forecast period with rising in the adoption of these animals as pets and the availability of cat wellness and care products globally
• The powder segment is anticipated to register the fastest growth during the forecast period owing to its quick and easy absorption properties among pet animals
• The skin and coat segment is projected to register the fastest growth during the forecast period from 2022 to 2030 due to increasing skin related problems leading to loss of body hairs among these animals
• The online channel is anticipated to register the fastest growth during the forecast years owing to promising growth exhibited by e-commerce platforms, including Amazon, Walmart, Alibaba, and other such service providers
• Asia Pacific is expected to register the fastest growth during the forecast period. The growing trend of pet humanization, coupled with the rising awareness of pet dietary supplements formulated to enhance their immune systems, is driving the market

Pet Supplements Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 2.14 billion
Revenue forecast in 2030	USD 3.20 billion
Growth Rate (Revenue)	CAGR of 5.9% from 2023 to 2030
Base year for estimation	2022
Historical data	2017 - 2021
Forecast period	2023 - 2030

 

Related Reports@

Pet Care Market

Pet Food Market

Pet Supplements Market Segmentation

Grand View Research has segmented the global pet supplements market based on type, pet type, form, application, distribution channel, and region:

Pet Supplements Type Outlook (Revenue, USD Billion; 2017 - 2030)

• Over-the-counter (OTC)
• Prescription

Pet Supplements Pet Type Outlook (Revenue, USD Billion; 2017 - 2030)

• Dogs
• Cats
• Others

Pet Supplements Form Outlook (Revenue, USD Billion; 2017 - 2030)

• Pills/Tablets
• Chewables
• Powders
• Others

Pet Supplements Application Outlook (Revenue, USD Billion; 2017 - 2030)

• Skin & Coat
• Hip & Joint
• Digestive Health
• Others

Pet Supplements Distribution Outlook (Revenue, USD Billion; 2017 - 2030)

• Online
• Offline

Pet Supplements Regional Outlook (Revenue, USD Billion; 2017 - 2030)

• North America
• • U.S.
  • Canada
• Europe
• • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia Pacific
• • China
  • Japan
  • India
• Central & South America
• • Brazil
• Middle East & Africa
• • Africa