Report Code : A06522
The pet supplement market has experienced significant growth owing to the increase in awareness among pet owners regarding the importance of pet health and nutrition. With a rising focus on preventive healthcare, pet owners are turning to supplements to address specific health needs and enhance the overall well-being of their furry companions. Moreover, advancements in pet supplement formulations and the availability of a wide range of products further drive market expansion.
Roshan Deshmukh - Manager
Consumer Goods at Allied Market Research
According to a new report published by Allied Market Research, titled, “Pet Supplement Market," The pet supplement market size was valued at $619.4 million in 2023, and is projected to reach $1,017.8 million by 2035, registering a CAGR of 4.3% from 2024 to 2035.
Pet supplement refers to products specifically formulated to provide additional nutrients, vitamins, minerals, or other beneficial substances to pets beyond what is typically found in their regular diet. These supplements are designed to address specific health concerns, support overall well-being, and promote optimal health in pets such as dogs, cats, birds, and other pet animals. They come in various forms, including tablets, powders, liquids, and treats, and are intended to complement a pet's diet to ensure they receive adequate nutrition and support their overall health and vitality.
Surge in the aging pet population has significantly impacted on the demand for the pet supplement market. According to Packaged Food, Pet Food in the U.S., the data shows a rise in households owning senior pet dogs and cats, reaching 52.4% and 51.7% respectively in the U.S. in 2022. Moreover, the percentage of households with puppies and kittens under the age of 1 declined drastically over a past few years in the U.S. As pets age, they often experience various health issues similar to humans, such as joint pain, arthritis, and declining immune function. The shift in demographics has led pet owners to seek out supplements that can help alleviate these age-related ailments and improve their pets' quality of life. Products targeting joint health, cognitive function, and overall vitality have seen increased demand as pet owners strive to ensure their aging pets remain healthy and active for longer time.
Furthermore, the aging pet population has prompted a greater emphasis on preventive healthcare among pet owners. Many pet owners are proactively seeking supplements that can support their pets' health and well-being as they age, rather than waiting until problems arise. Thus, the shift in mindset has fueled the growth of the pet supplement market, as pet owners increasingly recognize the importance of nutrition and supplementation in maintaining their pets' health throughout their golden years along with the pet supplement market trends. As a result, manufacturers are developing a wide range of supplements tailored to the specific needs of aging pets, further driving pet supplement market expansion.
Even though the pet supplement market has experienced growth, there are certain factors that hamper the market demand. Traditionally, owners fed their cats, dogs, and other pet animals with milk and homemade food, which included leftovers and scraps from family meals. In most developing countries, including India and China, people are not aware of pet food and supplements, and they do not consider it important to take care of their pet animals. Traditional ways of feeding pet animals are likely to hinder the growth of the pet supplement industry.
Moreover, CBD (cannabidiol) is one of the primary chemical compounds found in the cannabis plant. The use of cannabis in pet supplements has gained major popularity as regulations have become less stringent. Cannabis-based pet supplements are available in concentrates, isolates, and synthetic forms. In cannabis-based supplement products, anxiety curing products are most useful to lower anxiety. In addition, pet owners are looking for CBD as an alternative to mitigate pain and allergies. Cannabis-based products were highly visible in recent Global Pet Expo in Orlando (March 2019). Moreover, cannabis-based pet supplements are majorly sold through online stores including PetSmart.
The global pet supplements market is segmented into pet, application, source, distribution channel, and region. On the basis of pet, the market is categorized into dog, cat, freshwater fish and others. By application, it is segregated into multivitamins, skin & coat, hip & joint, prebiotics & probiotics, calming and others. On the basis of source, the market is categorized into organic and conventional. Depending on distribution channel, it is bifurcated into offline and online. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
By pet, the dog segment dominated the global pet supplements market in 2023 and is anticipated to maintain its dominance during the forecast period. Dogs are among the most popular pets worldwide, leading to a larger consumer base for dog-specific supplements. Moreover, dogs often have diverse health needs throughout their lifespan, including joint health, skin and coat care, and digestive health, prompting greater demand for supplements tailored to their needs. Furthermore, the humanization trend has led pet owners to prioritize the well-being of their dog, driving the purchase of premium supplements to support overall health and longevity of pets.
By application, the multivitamin segment dominated the global pet supplements market in 2023 and is anticipated to continue the same trend during the forecast period, as multivitamin supplements cater to a wide range of pet health needs, addressing deficiencies and promoting overall well-being. They offer convenience for pet owners seeking a single product to fulfill various nutritional requirements, simplifying supplementation regimens. In addition, rise in pet health awareness and concerns about nutrient adequacy drive demand for multivitamins, as they provide a convenient solution to ensure pets receive essential vitamins and minerals. Moreover, endorsements from veterinarians and pet healthcare professionals further boost the credibility and popularity of multivitamin supplements in the pet market.
By source, the conventional segment held the major pet supplement market share in 2023 and is anticipated to continue the same trend during the forecast period. Conventional supplements benefit from a long-time presence in the market, establishing trust and familiarity among consumers. Conventional supplements are often recommended by veterinarians and are widely available in pet stores and online platforms, ensuring accessibility. Moreover, conventional supplements are backed by extensive research and quality assurance, enhancing their perceived effectiveness and credibility. Furthermore, the established distribution networks and marketing efforts of conventional supplement manufacturers further contribute to their majority share of this segment in the global pet supplements market.
By distribution channel, the offline segment exhibited the highest growth in 2023 and is anticipated to maintain its dominance during the forecast period owing to factors such as established distribution networks, widespread availability in pet stores, and direct interaction with knowledgeable staff. Pet owners often prefer to physically browse products, seek advice from veterinarians or store staff, and make immediate purchases. In addition, offline channels offer the advantage of instant gratification, allowing consumers to procure supplements quickly. Increased trust in brick-and-mortar stores, along with the opportunity for personalized recommendations, contributes to the dominance of the offline segment in the pet supplements market despite the growing influence of online retail.
Region-wise, North America is anticipated to dominate the market with the largest share during the forecast period. The region has a large pet population, with a high percentage of households owning pets. North American consumers prioritize pet health and wellness, leading to increased spending on premium pet care products, including pet supplements. Moreover, the presence of well-established pet supplement manufacturers, extensive distribution networks, and veterinary recommendations further contribute to pet supplement market growth. Moreover, the regulatory environment in the region promotes consumer confidence in product safety and quality, thus driving the pet supplement market demand.
The major players operating in the global pet supplement market analysis are Virbac, Ark Natural Company, Bayer AG, Food Science Corporation, Kemin Industries, Nestle S.A, Novotech Nutraceuticals, Inc., Now Health Group, Inc., Nutramax Laboratories, Inc., and Zoetis, Inc.
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Pet Supplement Market by Pet (Dog, Cat, Freshwater Fish, Others), by Application (Multivitamins, Skin and Coat, Hip and Joint, Prebiotics and Probiotics, Calming, Others), by Source (Organic, Conventional), by Distribution Channel (Offline, Online): Global Opportunity Analysis and Industry Forecast, 2024-2035
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