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Pet Dietary Supplement Market (Pet Type - Dog, Cat, Bird, and Other Pet Types; Supplement - Glucosamine, Omega 3 Fatty Acids, Probiotics & Prebiotics, Multivitamins, Antioxidants, Proteins & Peptides, and Others; Distribution Channel - Online, and Offline): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : May, 2021

  • Rep Id : CGP00133

  • Category : Consumer Goods and Packaging

  • Status : Published

A recent report published by Infinium Global Research on the pet dietary supplement market provides in-depth analysis of segments and sub-segments in the global as well as regional pet dietary supplement market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional pet dietary supplement market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global pet dietary supplement market. According to the report, the global pet dietary supplement market is projected to grow upto USD 3.5 by 2026, growing with a CAGR of 6.4% over 2020-2026.


Pet Dietary Supplement Market


 Market Insight

Over the years, pets have evolved from being a strange and wonderful distraction to an integral part of families all over the world. As human populations have grown, so too have pet populations, and with so many pets on the planet it’s fascinating to see just how this population is dispersed. Pet dietary supplements provide essential nutrients, boost their immune system, increase absorption rates, as well as improve skin and coat of pets.

 

Pet dietary supplements can make sure the immune system is uncompromised and alert to attack which is the major driving factor for the market. A balanced, robust immune system reduces pet’s risk of heart disease, inflammation, cancers, osteoarthritis, and diabetes. A pet’s body will automatically regulate cells to make sure they’re working properly while eliminating potentially harmful pathogens before they become a problem. Along with a balanced diet and regular exercise, vitamins with high-quality, purity-tested ingredients will increase your dog’s ability to fight illness throughout their life.  Furthermore, growing disposable income, increasing spending power, easy availability of pet dietary supplements products and increased acceptance of pets among the millennials are some factors that are promoting the growth of the pet dietary supplements industry. However, the high cost of pet dietary supplements products and services are likely to restrain the growth of the pet dietary supplements market in some low-income regions. Besides, the growing migration of pet owner towards online channels is encouraging e-commerce giants such as Amazon, Walmart, Chewy.com, and PetCo into pet dietary supplements industry that is anticipated to facilitate the growth of the pet dietary supplements market over the forecast period. Pet dietary supplements sales surged during initial COVID-19 lockdowns in March 2020, as consumers stocked up on all sorts of goods; then sales experienced a significant falloff as shopping habits normalized somewhat. In e-commerce, which has exploded since the pandemic began, pet dietary supplements sales soared in 2020.

 

Geographically, North America holds the largest market share in the global pet dietary supplements market. More than half of all Americans have a dog or a cat in their home and Americans spend over $50 billion per annum on their pets. For animals, the U.S. Food and Drug Administration (FDA), Center for Veterinary Medicine (CVM) regulates two classes of products: food and drugs. Depending on the intended use, an animal dietary supplement is considered either a food or drug. The Asia Pacific is anticipated to grow at the fastest rate over the forecast period. The growing adoption of pets, the growth of the disposable income in nuclear families and growing online retail are contributing to the growth of the Asia Pacific pet dietary supplements market.

 

Segment Covered

The report on the global pet dietary supplement market covers segments such as pet type, supplement, and distribution channel. On the basis of pet type, the sub-markets include dog, cat, bird, and other pet types. On the basis of supplement, the sub-markets include glucosamine, omega 3 fatty acids, probiotics & prebiotics, multivitamins, antioxidants, proteins & peptides, and others. On the basis of distribution channel, the sub-markets include online, and offline.

 

Companies Profiled:

The report provides profiles of the companies in the market such as VetriScience Laboratories, Ark Naturals, Nestle Purina Pet Care, NOW Food, Virbac, Kemin Industries, Zoetis, Bayer, and Novotech Nutraceuticals.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the pet dietary supplement market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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