The global pet supplements market is expected to expand at a steady pace in near future. Growing awareness among pet owners regarding the importance of nutritional diet to prevent health disorders of domestic animals is anticipated to drive this growth. These supplements offer ingredients such as chondroitin, glucosamine, antioxidants, carnitine, probiotics, and prebiotics, essential for pet health. Animals are prone to similar types of chronic conditions found in aging humans, including cardiovascular diseases, cancer, cataract, arthritis, and thinning hair among others. Hence, along with healthy diet, supplements play a crucial role in prevention of chronic disorders. This factor is anticipated to provide major fillip to the global demand in near future.
Rising focus on health and wellness of domestic animals is one of the major factors positively influencing adoption of pet supplements. In addition, growing awareness regarding intolerances and food allergies can also boost product sales. Easy availability in retail stores can also propel product demand in the forthcoming years. Other factors such as rising preference for natural products and high awareness regarding obesity and age related health issues can bode well for the expansion of the market in near future.
Moreover, presence of regulatory authorities like Food and Drug Administration (FDA) and Association of American Feed Control Officials (AAFCO) controlling animal supplements can stimulate use of the product. FDA’s Center for Veterinary (FDA-CVM) relies on AAFCO to approve or deny sales and distribution of pet supplements. Such stern monitoring can further propel the growth in the forthcoming years.
Digestive health, condition-specific, joint health, skin/coat health, and cognitive health among others can be considered as some of the major types available in the market. Digestive and joint health are expected to be popular among consumers. Condition-specific supplements in the coming years. This, in turn can create lucrative business opportunities for the key companies in terms of development of new and effective condition specific products.
Palatability is a major issues, hence pet owners invest a lot in research and development to develop these products in treat forms, instead of regular pills, liquids, and powders. For instance, Herbal Vet has launched an easy to administer organic powder called Herbal Vet Hip & Joint Powder. Made from non-GMO, natural ingredients, this powder can be mixed in pet food for easy administration. It can help reduce hip and joint pain and rebuild joint cartilage and tissue and in dogs and cats.
High demand for organic or natural ingredients is one of the significant trends observed in the market. Rising consumer awareness regarding the side effects of chemical ingredients is anticipated to bode well for the organic supplements. Demand for natural products is likely to encourage manufacturers to use natural herbs like turmeric. Curcumin present in turmeric is considered as an essential natural ingredient owing to its health benefits. For instance, Amazing Nutritionals have launched Turmeric Chews chewable tablets for dogs. These tablets offer probiotics, Omega 3 fish oil, glucosamine, and chondroitin. Their anti-oxidant properties can prevent joint, heart, liver, and brain related disorders in dogs.
Another ingredient estimated to gain traction among manufacturers is Cannabidiol (CBD). This active ingredient can be found in marijuana and is used in human medicines to treat multiple chronic conditions like anxiety, pain, and epilepsy. Manufacturers use it as one of the ingredients. CBD based supplements can help pets deal with chronic pain. For instance, Honest Paws has launched Roasted Peanut Butter Flavored CBD Treats for dogs. Made from pure full spectrum CBD oil along with eggs, peanut butter, and malted barley; these treats can cure anxiety issues, stress of flying, nervous-licking, and phobias in dogs.
Most common products include supplements for coat and skin, liver, joints, gastrointestinal tract, brain, anxiety, and kidney. Digestive and joint health products are projected to witness significant demand in near future. Cats, dogs, and horses among others are some of the major animal types. Dog supplements are expected to witness high demand in the forthcoming years attributed to product availability and rising consumer awareness. Online and offline are some of the major types of distribution channels. Online distribution channels are expected to witness impressive growth in the forthcoming years attributed to rising consumer preference owing to added convenience.
In North America, U.S. is estimate to hold significant market share in the forthcoming years. In Europe, countries such as Germany, France, and U.K. are expected to be major consumers. In Asia Pacific, on the other hand, Japan, India, and China can be considered as the potential consumers for market expansion. Some of the leading companies operating in the pet supplements market are Zoetis, Novotech Neutraceuticals, Ark Naturals, VetriScience Laboratories, Kemin Industries, NOW Foods, and Nestlé Purina Pet Care.
