Pet Dietary Supplements Market Growth, Global Industry Share, Upcoming Trends, Revenue, Business Challenges, Opportunities and Forecast Analysis till 2033: SPER Market Research
Pet dietary supplements are food supplements intended for animals to ingest orally. They are high in probiotics, digestive enzymes, omega-3 fatty acids, glucosamine, and other natural components. Pets receive vital vitamins and nutrients from these supplements, supporting the upkeep of their general health and well-being. To enhance the feed’s overall nutritional balance or performance, they can be fed either alone or in combination with ordinary pet food. To prevent nutritional deficiencies and improve pets’ general health, it additionally provides them with extra vitamins, minerals, and proteins. These vitamins help keep pets healthy and active by promoting joint and bone health, strengthening the hair, skin, and nails, and boosting digestion. Presently, they are widely accessible in the market in a range of forms, including chewable pills, powders, and liquids, which can be tailored to meet the unique requirements of pets.
According to SPER market research, ‘Pet Dietary Supplements Market Size- By Product Type, By Application Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Pet Dietary Supplements Market is estimated to reach USD 8.38 billion by 2033 with a CAGR of 7.51%.
Growing pet ownership and growing awareness of pet nutrition and health have been the major drivers of the pet dietary supplement market. Accordingly, the demand for the products has increased due to the rising incidence of several medical conditions, particularly among older pets, such as allergies, obesity, digestive problems, and itchy skin. In addition, the industry is expanding due to the growing number of private-label companies that offer specialized and customized pet food products. Furthermore, more people are increasingly investing money in high-quality pet dietary supplements to support immunity, give pets enough nourishment, and treat health issues. It is anticipated that e-commerce platforms will be essential in improving accessibility and driving additional industry growth.
The strict regulatory regulations are one of the major barriers to the pet dietary supplement business. To guarantee the safety and effectiveness of these products, strict regulations regulate the pet dietary supplement market. Many well-established competitors are fighting for supremacy in the highly competitive global pet dietary supplement market. Since consumers with tight budgets look for value without compromising pet health, it’s essential to strike a balance between cost-effective solutions and quality formulations. The expansion of the pet dietary supplement industry is projected to be constrained by the availability of cheaper substitutes in addition to allergies and sensitivity to specific dietary supplements. The lack of awareness about pet supplements is one of the main things preventing the global pet supplement market from growing.
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Impact of COVID-19 on Global Pet Dietary Supplements Market
Though the market for animal feed and supplements has been significantly less affected, the global pandemic has had a detrimental effect on consumer product sales. To reduce the rate at which the fatal virus spread, people were forced to abide by the strict lockdown requirements. Most of the nations experienced border closures, which directly affected the import and export of pet supplements as well as the production process. The entire market has slowed down because of the disruption to the supply chain. The market for pet supplements expanded faster due to a decrease in COVID-19 cases later.
Pet Dietary Supplements Market Key Players:
North America is leading the market. The market is predicted to develop the fastest in the Asia Pacific area. key market players are Ark Naturals Virbac, Blue Buffalo Co. Ltd., GNC, Mars Incorporated, Nestle SA, Novotech Nutraceuticals Inc., NOW Foods, and PetAg, Inc.
Pet Dietary Supplements Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Product Type: Based on the Product Type, Global Pet Dietary Supplements Market is segmented as; Glucosamine, Probiotics, Multivitamins, Omega 3 fatty acids, Others.
By Application: Based on the Application, Global Pet Dietary Supplements Market is segmented as; Joint Health, Digestive Health, Weight Management, Skin and Coat Health, Dental Care, Others.
By Region: This report also provides the data for key regional segments of North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Pet Dietary Supplements Market Revenue
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