Pet Supplements Market Size (2024 – 2030)

In 2023, the Global Pet Supplements Market was valued at $2.49 billion, and is projected to reach a market size of $3.72 billion by 2030. Over the forecast period of 2024-2030, market is projected to grow at a CAGR of 5.9%.

Pet supplements are processed foods created from plant and animal raw materials that have concentrated nutritional sources in them to make up for shortages in certain vitamins, minerals, or proteins. It offers vital nutrients that support the well-being of pets, such as horses, birds, reptiles, freshwater fish, dogs, and cats. Over the course of the forecast period, growing concerns about animal welfare and an increase in the adoption of pets are anticipated to fuel the expansion of the pet supplement market. Additionally, because reptiles like anoles, bearded dragons, leopard geckos, tortoises, and turtles don't shed fur, are minimal maintenance, and don't require training, the habit of caressing them has grown significantly. The industry is also growing as a result of rising consumer knowledge of pet supplements and an increase in the use of organic pet food.

Key Market Insights:

The US FDA approved the oclacitinib chewable tablet Apoquel Chewable, according to a statement released by Zoetis. The pill has been created to manage atopic dermatitis and pruritus associated with allergic dermatitis in dogs that are at least a year old.

The US FDA approved Zoetis's Librela (bedinvetmab injectable), which is meant to help dogs with osteoarthritis manage their pain. The injectable, which has a monthly dosing schedule, targets the Nerve Growth Factor (NGF), a key mediator of osteoarthritis pain. In two field investigations, Librela has demonstrated that, when compared to a placebo, it lessens OA discomfort in dogs, enhancing their quality of life.

Nutramax Laboratories Veterinary Sciences has reported encouraging outcomes for the oral cobalamin supplement Cobalequin which contains the metabolically active form of folate (5-MTHF). In dogs, cobalamin, often known as vitamin B12, is essential for maintaining cell activity. Dogs with hypocobalaminemia, often known as cobalamin deficiency, may benefit from taking a cobalequin supplement.

The Joint Care soft chew supplement was launched by Purina Pro Plan Veterinary Supplements to promote puppies and dogs of all sizes and breeds' mobility and healthy cartilage and joints. Hyaluronic acid, collagen, chondroitin sulfate, glucosamine, and omega-3 fatty acids are included in the product to promote the normal inflammatory response that occurs in joints as a result of aging naturally.

Global Pet Supplements Market Drivers:

The market is driven by the rising percentage of pet owners:

Due to the rising rate of pet adoption seen worldwide, the market for pet supplements is likely to expand globally. Pet ownership is becoming more popular for a variety of reasons, including health-related issues and personal preferences. For example, in addition to couples who are unable to conceive naturally due to medical conditions, more and more people decide to adopt pets instead of having biological children. Additionally, for some medical conditions, it is advised that patients always have a dog or other pet with them. These animals serve as companions and are essential to the emotional and physical well-being of their patients. Since more people are ready to spend more money on their pets' safety and well-being, the demand for related supplements is rising quickly along with the number of pet owners.

The Growing Awareness of Pet Nutrition and Health is fuelling pet supplements demand:

People's knowledge about the nutrition and well-being of their dogs has rapidly increased since the start of this decade. To make sure their animals are receiving the best possible care, pet owners are increasingly checking the names of the nutrients and additives present in pet diets and supplements. To promote the health of pets, they are now concentrating on natural and organic components, more palatable preparations such as delicate bits and gels, and mixed products that blend essential unsaturated fats, herbs, nutrition, and other pet vitamins. Pet supplements are therefore becoming more and more popular worldwide as awareness of the health of pets and their diets grows.

Global Pet Supplements Market Challenges:

The Growth of the Pet Supplement Market May Be Restricted by Lack of Knowledge:

One of the main things impeding the growth of the pet supplement market globally is the low degree of knowledge regarding these products. A common belief among pet owners is that if their animals are healthy, they shouldn't require any supplements. Furthermore, pet owners frequently believe that "complete and balanced" pet foods meet all of their animals' physiological needs. Among the most important issues facing the pet supplement industry is this widespread misconception. However, there are several opportunities for big pet supplement firms to thoroughly inform pet owners about the benefits of utilizing pet supplements.

Global Pet Supplements Market Opportunities:

The market for pet supplements is expanding in several ways as e-commerce platforms become more and more common. One of the most notable developments in the sector at the moment is the online pet supply market. Because of this, pet supplement vendors now have the chance to reach a wider audience by marketing their products online, potentially increasing their earnings. Furthermore, several pet supplement firms are partnering with e-commerce giants to develop strategic alliances aimed at boosting sales of their products. For instance, PetMed Express, Inc., also known as 1-800-PetMeds, an online pet pharmacy, partnered with Amazon to increase the variety of pet supplements that are offered and to provide significant price breaks to entice people to try their goods.

PET SUPPLEMENTS MARKET REPORT COVERAGE:

Global Pet Supplements Market Segmentation: By Type

• Over-the-counter (OTC)

• Prescription

In 2022, over-the-counter (OTC) pet supplements accounted for the greatest revenue share of 86.71% in the market. Throughout the projection period, the market is anticipated to remain dominant as these supplements are widely accessible and either support a specific pet health issue or offer specialized nutrients. Furthermore, these supplements are widely accessible and reasonably priced, in addition to being highly well-liked. Additionally, a variety of distribution channels, such as internet merchants, supermarkets & hypermarkets, pet stores, and others, provide a large selection of pet supplements. Probiotics, multivitamins, omega-3 supplements, joint supplements, and other over-the-counter supplements are among the most often bought supplements by pet owners.

Prescription pet supplements are anticipated to grow at a compound annual growth rate (CAGR) of 6.4% in the market starting in 2023 and ending in 2030. Supplements for pets on prescription are made to address particular health issues. This strategy makes it possible to treat complicated medical issues in pets, which boosts acceptance and expands the market. Prescription dietary supplements are supported by clinical studies and scientific research and are safe and effective. Prescription supplements also undergo stringent quality control procedures, guaranteeing their safety and effectiveness. Among the firms that offer prescription pet vitamins, the two biggest ones are Zoetis and Elanco.

Global Pet Supplements Market Segmentation: By Pet Type

• Dogs

• Cats

• Others

With the biggest revenue share of 44.30% in 2022, dog supplements led the pet supplement industry. Over the projection period, the dog supplements are anticipated to continue to have a dominant position. Worldwide, dogs are the most popular pets, and they are adopted at a very high rate. 69.0 million homes in the United States own a dog, according to the American Pet Products Association's National Pet Owners Survey. Over the course of the projected period, the introduction of novel dog supplements by companies is likely to drive additional market expansion. For instance, a line of dog supplements called Greenies, a trademark of Mars and Affiliates, was introduced in October 2021 to promote the health of the skin and coat, mobility, and immune system. These goods are made using premium ingredients and are devoid of artificial flavors, artificial preservatives, and fillers.

From 2023 to 2030, the pet supplement market is likely to grow at a compound annual growth rate (CAGR) of 6.1% for the cats' sector. It has been noted that cats offer their owners more comfort and companionship, which has led to a rise in the market for cat food items, including supplements. In November 2021, an article in CNN Health stated that at least 25 million individuals in the United States suffer from obstructive sleep apnea and that 30% of Americans suffer from insomnia. It also suggested that sleeping with cats might exacerbate insomnia. The advantages of cat ownership have thereby increased cat adoption, which has led to possibilities for the market.

Global Pet Supplements Market Segmentation: By Form

• Pills/ Tablets

• Chewables

• Powders

• Others

Chewable supplements are among the most popular in the world; in 2022, they generated around 73.88% of total revenue. Many companion animals, such as dogs and cats, find it difficult to swallow pills or capsules, or they just dislike the feeling. Since animals naturally chew on all types of food, chewable vitamins are a great option in these situations and are also contributing to the growth of this market. Chewable items have the advantage of being absorbed in the stomach similarly to food. As food is eaten, saliva is exposed to it, including digestive enzymes that break it down. The longer food is chewed, the more opportunities these enzymes have to perform their work.

From 2023 to 2030, the powder form is likely to grow at a quicker rate of 6.5% CAGR. Powdered supplements are easy to take, absorb faster than tablets or pills, and blend well with a variety of meals and drinks. Over the course of the projection period, powder-based products are anticipated to rise as a consequence of these characteristics, which are anticipated to raise product visibility among animal owners. For example, NOW Foods provides powdered vitamins for pets that promote the health of the cardiovascular system in both dogs and cats.

Global Pet Supplements Market Segmentation: By Application

• Skin & Coat

• Hip & Joint

• Digestive Health

• Others

With a revenue share of over 50.78% in 2022, the hip and joint category led the pet supplement market and is predicted to continue to do so throughout the forecast period. Overwhelming joint discomfort can cause pets to limp, get stiff, become reluctant to accomplish tasks, experience tension, and become anxious, all of which can be major health issues that affect their general well-being. Glucosamine and chondroitin, two calming ingredients that help shield the joints from extreme wear and strain and prevent arthritis, are included in many joint-related supplements. Omega-3 fatty acid supplements are given to many dogs and cats because they have anti-inflammatory properties. The market for supplements that deal with hip and joint problems is anticipated to be driven by these considerations.

Between 2022 and 2030, the skin and coat category is likely to grow at a compound annual growth rate (CAGR) of 6.2%. Pet owners are reporting skin problems in their pets, including hair loss, dry skin, self-inflicted wounds, inflammation, and dandruff, which can be caused by persistent itching and scratching. As a result, pet supplements for skin and coat are becoming more popular. Pets' skin can receive nourishment and relief from dryness via skin supplements. Skin is regularly nourished by components including zinc, omega-3 and omega-6 fatty acids, coconut oil, vitamins, minerals, and other potent antioxidants. The market demand for these goods is being driven by growing owner worries about their pet's general welfare.

Global Pet Supplements Market Segmentation: By Distribution Channel

• Online

• Offline

In 2022, the pet supplement market was led by the offline distribution channel, which also had the most revenue share of around 88.6%. Local shops, convenience stores, and supermarkets/hypermarkets are examples of offline channels. One major factor propelling the expansion of this market is the growing availability of a wide range of supplements, including omega 3, multivitamins, and items for skin and coat care, in these kinds of retailers. For example, the French grocery company Carrefour and Invivo Retail's pet care brand Noa collaborated to open a new concept pet store in Paris in July 2020. A wide range of vitamins and other full-body care goods are available at the concept retail store.

Between 2023 and 2030, the market for pet supplements is projected to grow at a CAGR of 8.6% through the online distribution channel. The online channel category is anticipated to be driven by the availability of a broad variety of food and needs for domesticated animals, as well as by the growing consumer loyalty. For instance, many well-known and reliable online retailers of supplements for pets, such as fish, birds, dogs, and cats, include Chewy, Petco Animal Supplies, Inc., BestVetCare.com, and Amazon.

Global Pet Supplements Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East and Africa

In 2022, North America held the greatest revenue share of 44.60% and led the pet supplement market. The main reasons propelling the growth of the North American market are the increasing number of owners of these animals, the growing concern for these animals, and the increasing knowledge among owners about different health hazards. As per the National Pet Owners Survey, the percentage of American homes with domesticated animals rose from 56% in 1988 to 67% in 2019. The need for these supplements is also being driven in North America by the growing trend of pet owners wanting to enhance their pets' immune systems, improve digestion, and treat different skin allergies.

From 2023 to 2030, the Asia Pacific market is anticipated to grow at a compound annual growth rate of 6.6%. The growing belief among pet owners that their pets' everyday diets may not include all the nutrients they need and that supplements might help fill in the gaps is encouraging the development of these animal health products. The need for the industry is also anticipated to be further boosted by the region's expanding populations of cats, dogs, fish, birds, and poultry, especially in China and Australia.

With a substantial market share of 25.91% in the pet supplement industry in 2022, Europe is likely to grow at a compound annual growth rate (CAGR) of 5.7% from 2023 to 2030. The pet supplement industry is likely to develop since pet owners make up a big portion of the population in Europe. The pet food business finds many suitable production facilities in Europe, which has led to a rise in the availability of pet supplements in the European market.

COVID-19 Impact on the Global Pet Supplements Market:

The COVID-19 epidemic has hurt the consumer products business; however, the market for animal food and supplements has been mostly spared. People are restricted to stay at their homes to halt the spared of the coronavirus. Boundaries are closed in most countries, which has an immediate impact on the import and export of pet supplements as well as the production process. Additionally, the market as a whole has been impacted by the slowdown in the supply chain. Pet supplements sold more during the lockdown because individuals and their animals were kept in their homes throughout the quarantine period. It is anticipated that a decline in coronavirus infections and the development of COVID-19 vaccinations will help the pet supplement sector recover its standing. 

Global Pet Supplements Market Recent developments:

In the US, Virbac introduced 'VETERINARY HPM Spay & Neuter Diets'. The medicine, which was introduced for dogs and cats who have been spayed or neutered, comes in six formulae and is sold through veterinarians and Virbac's iVet.com e-commerce portal.

Nestlé's Purina Petcare division invested 5 billion Baht, or around $144 million, to build a new factory in Rayong, Thailand. This new facility will also produce wet pet food for Thai and other foreign markets.

As part of a national development strategy, Nutramax Laboratories, a manufacturer and marketer of nutritional supplements, had said that they want to expand in Lancaster County. The corporation's $30 million investment will result in the creation of almost 200 new jobs.

 Key Players:

1. Nestlé

2. FOODSCIENCE

3. Ark Naturals

4. NOW Foods

5. Virbac

6. Zoetis

7. Bayer AG

8. Pet Honesty

9. Nutramax Laboratories

10. Zesty Paws

• In July 2023: Nestlé's Purina division has declared the completion of an 182 million dollar facility expansion in King William, Virginia. The firm would be able to meet the growing demand for cat litter solutions in North America and increase production capacity for new litter products with the development of the litter factory.

• In August 2022: Zesty Paws introduced their initial line of puppy products, which consists of training treats, a milk substitute, and vitamins. The items include Training Bites; Puppy Milk Replacer; Puppy AllerImmune Bites; Calming Bites for Puppies; and Puppy 8-in-1 Multivitamin Bites.