Pet Supplements Market Size, Share, Growth, Forecast 2030

Pet Supplements Industry Prospective:

The global pet supplements market size was worth around USD 2400 million in 2022 and is predicted to grow to around USD 3700 million by 2030 with a compound annual growth rate (CAGR) of roughly 5.5% between 2023 and 2030.          

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Pet Supplements Market: Overview

A specific kind of nutritional supplement created for animal ingestion is known as a pet supplement. To supplement an animal's usual diet with additional nutrients, it is employed. Typically, natural substances like herbs, vitamins, minerals, and other compounds are used in its manufacturing. It also includes probiotics, digestive enzymes, glucosamine, and omega-3 fatty acids. Pets benefit from it in a variety of ways, including receiving additional nutrients and vitamins to boost their general health, enhancing their coat, skin, and nails, supporting joint & bone health, and helping to enhance their digestion. It is marketed in a variety of forms, including chewable pills, powders, and liquids, and may be customized to meet the specific needs of each pet.

Key Insights

• As per the analysis shared by our research analyst, the global Pet Supplements market is estimated to grow annually at a CAGR of around 5.5% over the forecast period (2023-2030).
• In terms of revenue, the global Pet Supplements market size was valued at around USD 2400 million in 2022 and is projected to reach USD 3700 million, by 2030.
• The rising pet ownership across the globe is expected to propel the pet supplements market growth during the forecast period.
• Based on the type, the over-the-counter (OTC) segment is expected to capture the largest market share over the forecast period.
• Based on the pet type, the dog segment is expected to dominate the market over the forecast period.
• Based on the form, the chewable segment is expected to dominate the market during the forecast period.
• Based on region, North America is expected to dominate the market over the forecast period.

Pet Supplements Market: Growth Drivers

Rising pet ownership drives market expansion

As more individuals prefer to keep pets, especially dogs and cats, the world's pet population has been continuously growing. A larger consumer base for pet supplements results directly from the increase in pet ownership. For instance, according to an American Pet Products Association (APPA) poll from 2021–2022, 70% of homes had pets. In the United States, 69 million homes (or 70%) have dogs, compared to 45.3 million households with cats. Thus, the growing pet ownership is expected to drive the pet supplements market during the forecast period.

Pet Supplements Market: Restraints

Lack of regulation and quality control issues hamper the market growth

The pet supplement market is less strictly regulated than the human market. Consumers may find it difficult to recognize reliable brands and goods as a result of variances in product quality and safety. Additionally, differences in production procedures and ingredient procurement might lead to variances in product quality. Some supplements may become less effective or even toxic to pets as a result. Thus, this is expected to act as a major restraining factor to the market growth during the forecast period.

Pet Supplements Market: Opportunities

Increasing product launches provide an attractive opportunity for market growth

The increasing product launch is expected to provide an attractive opportunity for the pet supplements industry growth during the forecast period. For instance, in June 2023, the introduction of two new products was announced by Ainos, Inc., a diversified medtech business focused on the development of revolutionary point-of-care diagnostics, low-dose interferon treatments, and synthetic RNA-driven preventative medicine. VELDONA® Pet Soothing is made to ease discomfort brought on by allergies, and VELDONA® Pet Lohas is created to enhance pets' mental wellness and reduce stress. VELDONA® Pet Lohas helps dogs and cats feel better emotionally by relieving stress and discomfort. Interferon therapies have been shown to help regulate cellular inflammatory responses in the brain, according to a study from China Medical University, which suggests they may lower the risk of depression. The remodeling and regeneration of synapses between brain nerve cells may also be favorably impacted by interferon. Thus, driving the revenue growth.

Pet Supplements Market: Challenges

Lack of awareness poses a challenge to market growth

One of the main things holding back the expansion of the pet supplement business is the general lack of knowledge about pet supplements throughout the world. Many pet owners believe that if their animals are healthy, they do not require any supplements. Additionally, pet owners frequently believe that "complete and balanced" pet foods cover all of their animal's physiological needs. One of the major challenges the pet supplement industry has is this widespread misconception.  

Pet Supplements Market: Segmentation

The global Pet Supplements industry is segmented based on type, pet type, form, application, distribution channel, and region.

Based on the type, the global market is bifurcated into over-the-counter (OTC) and prescription. The over-the-counter (OTC) segment is expected to capture the largest market share over the forecast period because they are readily available, these supplements can either promote a certain element of a pet's health or offer a specific vitamin. These supplements are also widely and easily accessible at a somewhat low cost, making them highly popular. Additionally, a large selection of pet supplements is offered through several distribution channels, including online shops, supermarkets & hypermarkets, pet stores, and others. Supplements for joints, omega-3 fatty acids, multivitamins, probiotics, and other products are among the most common over-the-counter products that people buy for their dogs. Thereby, driving the segment growth.

Based on the pet type, the global pet supplements market is bifurcated into dogs, cats, and others. The dog segment is expected to dominate the market over the forecast period. Dogs are the most widely owned pets in the world, and their adoption rate is very high. The American Pet Products Association's National Pet Owners Survey indicates that 69.0 million American homes have dogs. Over the forecast period, new dog supplements being introduced by businesses will further fuel market expansion. For instance, in October 2021, the Mars and Affiliates-owned brand Greenies debuted a range of canine vitamins that focus on mobility, immune system support, and the health of the skin and coat. These goods are made with high-quality ingredients and don't include any artificial flavors, preservatives, or fillers. Thus, driving the market growth.

Based on the form, the pet supplements industry  is bifurcated into pills/tablets, chewables, powders, and others. The chewable segment is expected to dominate the market during the forecast period. Many household pets, such as cats and dogs, have trouble swallowing pills or capsules or just dislike the sensation. Chewable vitamins are the best option in these circumstances since animals instinctively chew all food, which is fueling the expansion of this market. The fact that chewable items may be absorbed in the stomach like food is a big advantage. When food is chewed, it is exposed to saliva, which includes digestive enzymes that break it down; the longer the meal is chewed, the greater the chance that these enzymes will be able to do so. Therefore, chewable vitamins provide total absorption and enable nutrient absorption. Thereby, driving the segment expansion.

Based on the application, the global pet supplements industry is segmented into skin & coat, hip & joint, digestive health, and others.

Based on the distribution channel, the market is bifurcated into online and offline.

Pet Supplements Market: Report Scope

Pet Supplements Market: Regional Analysis

North America is expected to dominate the market growth over the forecast period

North America is expected to dominate the global pet supplements market during the forecast period. The market for nutritional supplements and nutraceuticals for pets and companion animals is expanding in North America. The American Pet Product Association (APPA) estimates that there are 89.7 million dogs kept as pets in the US. The average yearly cost for a dog's dental treatment is USD 49.70, and in 2021, pet owners will spend USD 50 billion on food and treats for their four-legged friends. About half of Americans spent the same amount or more on their dogs' healthcare as they did for themselves in 2021, according to the National Pet Owners Survey. Additionally, according to the American Veterinary Dental Society, over 80% of dogs and over 70% of cats, respectively, have gum disease by the age of three. Moreover, diabetes is one of the main diseases that affect dogs in the nation. During the time of forecasting, market expansion in this region is anticipated to be driven by rising pet health awareness and rising veterinary health spending.

Pet Supplements Market: Competitive Analysis

The global Pet Supplements market is dominated by players like:

• Naturals
• NestléArk
• NOW Foods
• FOODSCIENCE
• Virbac
• Zoetis
• Bayer AG
• Pet Honesty
• Nutramax Laboratories
• Zesty Paws
• Mars Inc.
• Hill's Pet Nutrition Inc.
• Blue Buffalo Pet Products Inc.
• iVet Professional Formulas
• Farmina Pet Foods
• Forza10 USA
• The Higgins Group Corp.
• NOW Foods
• Pet Naturals
• Affinity Petcare S.A

The global Pet Supplements market is segmented as follows:

By Type

• Over-the-counter (OTC)
• Prescription

By Pet Type

• Dogs
• Cats
• Others

By Form

• Pills/Tablets
• Chewable
• Powders
• Others

By Application

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

By Distribution Channel

• Online
• Offline

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa