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Market Research Report
Product code
1000323
Pet Supplement Market by Pet, Application, Source, and Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2021-2027 |
Pet Supplement Market by Pet, Application, Source, and Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2021-2027 |
Published: February 19, 2021
Allied Market Research
Content info: 323 Pages
Delivery time: 2-3 business days
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The pet supplement market size was valued at $596.8 million in 2019, and is estimated to reach $822.6 million by 2027, registering a CAGR of 7.3% from 2021 to 2027.
Pet supplement is a popular alternative to traditional pet food, which is low in carbs, packed with nutrients and has a slightly sweeter taste. Pet supplement is a rich source of nutrients, proteins, vitamins, and minerals. It is gaining significant traction among developing countries, owing to increase in pet humanization and surge in disposable income. Furthermore, consumers are becoming more curious and conscious about the overall health of pets, which is expected to drive the demand for products that aim to promote better health; increase longevity; and prevent various diseases such as calming, hip & joint, and skin & coat problems.
Pets have been a part of human society for thousands of years. Dogs are officially man's best friend with one-third of households worldwide owning a dog. Pet owners are now increasingly treating their dogs, cats, and even small mammals like family members. Marketers are commercializing this trend into a vast range of goods and services. The pet care industry is benefiting from rapid urbanization and increasing tourism within Asia. Leveraging this opportunity, many pet-friendly hotels have emerged. The Four Seasons Hotel in Singapore-a luxury hotel-offers low rates for a pet-friendly room for pets that weigh less than 7kgs to 12kgs.
However, lack of awareness regarding the concept of pet supplement and proper guidelines and suggestions regarding how to nourish pets, especially in developing countries, including India and China are considerably expected to hinder the growth of the pet supplement market during the forecast period. Furthermore, people, form rural areas, feed their pets with left over meals, milk, and meat, which hamper the growth of the market
The report segments the global pet supplement market into pet, application, source and distribution channel, and region. On the basis of pet, the market is categorized into dogs, cats, freshwater fishes, and others. The applications covered in the study include multivitamins, skin & coat, hip & joint, prebiotics & probiotics, and calming. By distribution channel, the market is fragmented 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)
The major players operating in the market are Ark Natural Company, Bayer AG. Food Science Corporation, Kemin Industries, Nestle S.A, Novotech Nutraceuticals, Inc., Now Health Group, Inc., Nutramax Laboratories, Inc., and Virbac andZoetis, Inc.
Source: Primary Research, Government Publications, and AMR Analysis
Source: Primary Research, Government Publications, and AMR Analysis
NESTLE S.A REGISTERED DECREASE IN NET SALES BY 0.3% FROM 2018 TO 2019, DUE TO THE NEGATIVE IMPACT OF NET ACQUISITION AND FOREIGN EXCHANGE IN 2019.
VIRBAC REGISTERED INCREASE IN NET SALES BY 5.9% FROM 2018 TO 2019, DUE TO THE POSITIVE IMPACT OF EXCHANGE RATE AND INCREASE IN THE OVERALL SALES OF THE COMPANY.
ZOETIS, INC. REGISTERED INCREASE IN NET SALES BY 7.5% FROM 2018 TO 2019, DUE TO THE INCREASE IN U.S SEGMENT IN 2019.