Pet Supplements Market To Expand Industry Growth At USD 2.32 Billion By 2028

San Francisco, 30 Dec 2021: The Report Pet Supplements Market Size, Share & Trends Analysis Report By Pet Type (Dogs, Cats), By Distribution Channel (Offline, Online), By Region (North America, Europe, Asia Pacific, Central & South America), And Segment Forecasts, 2021 - 2028

The global pet supplements market size is expected to reach USD 2.32 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.9% from 2021 to 2028. Pet supplement sales soared as a result of increased consumer interest sparked by COVID-19, particularly in products that target immunity, anxiety, and overall wellness. When it comes to consumer buying patterns, joint health supplements are already at the top of the list, but hip and joint supplements are only one element of the senior pet health picture.

The growing numbers of aging dogs and cats are in need of an immune response, cardiac and cognitive support items, and anti-inflammatory and pain management aid, thanks to breakthroughs in veterinary treatment and pet owner interest in pet wellness and nutrition at an all-time high.

According to Packaged Facts' 2020 Pet Owners Survey, 47% of dog owners have a dog aged 7 or older, up from 43% in our previous study, and 43% of cat owners have a cat aged 7 or older, up from 39% in our previous survey, demonstrating the growth of this pet demographic. Marketers can leverage already-existing products into a growing pet population segment by targeting the senior population with personalized products and senior-specific products, such as multifunctional supplements, thereby offering another viable avenue for market expansion.

According to a survey of pet food producers performed by Petfood Industry in April, 60% indicated higher sales through online shops. Granted, that was during the early lockdown-induced stockpiling of pet food and many other essential household goods; however, in the most recent Petfood Industry Confidence Index surveys of pet food executives and other professionals, e-commerce has remained one of the few bright spots as business confidence has lagged in other areas.

Many dog owners are naturally anxious about administering human-grade CBD oil to their pets. However, firms such as Royal CBD and Gold Bee have created CBD products designed specifically for pets that are less strong. Preliminary research from Baylor College of Medicine suggests that CBD oil can aid in the treatment of canine osteoarthritis, which affects 20% of dogs over the age of a year.

Access Research Report of Pet Supplements Market @ https://www.grandviewresearch.com/industry-analysis/pet-supplements-market

Pet Supplements Market Report Highlights

  • By pet type, the dogs segment accounted for the largest share of over 45.0% in 2020 as dogs are the most popular pets in the world, with an incredibly high adoption rate
  • The offline distribution channel segment accounted for the largest share of over 75.0% in 2020 and is expected to witness the fastest growth over the forecast period
  • North America held the largest share of over 40.0% in 2020. An increase in the number of pet owners and increased knowledge among pet owners about various health hazards are some of the factors fueling the regional market growth

List of Key Players of Pet Supplements Market

  • Nestlé Purina Petcare
  • Food Science Corporation
  • Ark Naturals
  • NOW Foods
  • Virbac
  • Kemin Industries, Inc.
  • Novotech Nutraceuticals, Inc.
  • Zoetis Inc. (Platinum Performance)
  • Bayer AG
  • PetHonesty
  • Nutramax Laboratories, Inc.
  • Manna Pro Products, LLC
  • Honest Paws
  • Garmon Corporation
  • Zenwise
  • Only Natural Pet
  • Dechra Pharmaceuticals PLC
  • Vetoquinol S.A.
  • Vetnique Labs

Access Press Release of Pet Supplements Market @ https://www.grandviewresearch.com/press-release/global-pet-supplements-market

 

 

Comments

Post a Comment

Popular posts from this blog

Asia Pacific PoC Diagnostics Market Growth Opportunities, Industry Analysis And Forecast: Grand View Research Inc.

Image
San Francisco, 18 March 2020 :  The Report   Asia Pacific PoC Diagnostics Market  Analysis And Segment Forecasts To 2020 The Asia Pacific point of care (PoC) diagnostics market is expected to reach USD 5,427.1 million by 2020, according to a new study by Grand View Research, Inc. Growing base of geriatric population and the ability to render immediate results and improve patient care coupled with rising market penetration of PACS (picture archiving and communication systems) and EMR (electronic medical records) are expected to drive demand over the next six years. Skilled staff shortages, especially pertaining to the field of diagnostics are also expected to accelerate the market penetration rates of PoC products, by expediting lab automation processes. Rising demand for home healthcare and other healthcare establishments catering to the elderly population and initiatives undertaken by governments to shorten hospital stays by establishing out-patient care models are also expect
Read more

Food Additives Market Size & Share Hit USD 55.53 Billion By 2022 : Grand View Research Inc.

Image
San Francisco, 17 October 2019:   The Report   Global Food Additives Market   Analysis By Product Flavors & Enhancers (Natural, Artificial), Sweeteners (High Intensity, HFCS), Enzymes, Emulsifiers (Mono, Di-Glycerides, Lecithin, Stearoyl Lactylates, Sorbitan Esters), Shelf-life Stabilizers, Fat Replacers (Protein, Starch)] And Segment Forecast To 2022 Global food additives market is expected to reach USD 55.53 billion by 2022, according to a new study by Grand View Research, Inc. Food & beverage industry growth in BRICS and Middle East on account of rising domestic consumption and increasing foreign direct investments is expected to augment market growth. Asia Pacific is expected to be one of the most promising markets on account of growing domestic consumption in China and India owing to population growth and new product launches by food & beverage manufacturers. Availability of raw materials such as sorbitol and lactic acid in China, Indonesia, and Malaysia in light o
Read more

Integration Platform as a Service Market Valuation Is Expected To Exceed USD 2.70 Billion By 2025: Grand View Research Inc.

Image
San Francisco, 18 March 2020 :  The Report   Integration Platform as a Service (IPaaS) Market  Analysis By Integration Type (API, Process, Application, Data), By Services, By Deployment (Cloud, On-Premise, Hybrid) By Region, And Segment Forecasts, 2018 – 2025 The global integration platform as a service (IPaaS) market is expected to reach USD 2.705.8 million by 2025, according to a new report by Grand View Research, Inc. Rising need of advanced systems to improve the process of deploying, developing, and managing enterprise applications globally has been a major factor driving market growth. In addition, recent developments in big data, cloud computing, and Internet of Things (IoT) within organizations’ processes also paved the way for greater development of IPaaS solutions. Integration Platform as a Service is an emerging technology where in the applications, process, data, and application programs are integrated. The integration enables enterprises to reduce the complexity
Read more