Dublin, Oct. 25, 2023 (GLOBE NEWSWIRE) -- The "Veterinary Dietary Supplements Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global veterinary dietary supplements market is on the rise. It's expected to grow from $2.03 billion in 2022 to $2.23 billion in 2023, indicating a remarkable Compound Annual Growth Rate (CAGR) of 10.0%. Despite global disruptions, the market is forecasted to reach $3.23 billion by 2027, boasting a CAGR of 9.8%.
This comprehensive research report on the global veterinary dietary supplements market provides valuable insights and in-depth analysis for forward-thinking executives. It equips you with the tools to comprehend market trends, discover new opportunities, and position your organization at the forefront of this dynamic industry. The report delves into key segments, from omega-3 fatty acids to botanical-based supplements, and highlights crucial distribution channels such as online e-commerce and offline retailing. Stay ahead of the curve by unlocking the potential of the veterinary dietary supplements market today.
Enriching Animal Lives with Veterinary Dietary Supplements
Veterinary dietary supplements are highly nutritious products that contain one or more nutrients or active ingredients like vitamins, minerals, and botanicals. They are designed to supplement animal diets, acting as complementary and alternative medicine (CAM) to improve the health and well-being of animals.
Key Market Segments:
- Types: The market encompasses various dietary supplements, including omega-3 fatty acids, proteins and peptides, CBD, multivitamins and minerals, probiotics and prebiotics, and other types like antioxidants.
- Dosage Forms: These supplements come in multiple forms, including tablets and capsules, gummies and chewables, powders, liquids, and others like injectables and pastes.
- Distribution Channels: The products are available through online e-commerce platforms and offline retailers.
- Applications: Veterinary dietary supplements are used for joint health support, calming, stress and anxiety relief, digestive health, energy and electrolytes, immunity support, skin and coat health, and other applications such as kidney, urinary tract, liver, cardiovascular, and weight management.
Drivers and Challenges:
Drivers:
- Increasing Animal Population: The growing populations of companion animals, including dogs and cats, as well as livestock animals, are driving market growth. Veterinary dietary supplements help ensure these animals receive proper nutrition for growth and development.
- Product Innovation: Leading companies are developing innovative products to reduce carbon emissions and increase data center efficiency. For example, SeQuent Scientific Ltd. launched the veterinary medicine Halofusol, a generic version of Halocur, which has unique features like the prevention and reduction of diarrhea in newborn calves.
- Acquisitions and Partnerships: The market is witnessing strategic acquisitions and partnerships, such as Royal DSM acquiring Prodap to strengthen its portfolio in veterinary dietary supplements and develop digital solutions for smarter nutritional decision-making.
Challenges:
- Global Economic Uncertainties: Geopolitical events like the Russia-Ukraine conflict have disrupted global economic recovery in the short term, impacting various markets.
- Inflation Impact: High global inflation is affecting market growth, adding complexities to the business landscape.
Global and Regional Perspectives:
In 2022, Europe dominated the veterinary dietary supplements market. The market's influence extends across regions, including Asia-Pacific, Western and Eastern Europe, North and South America, the Middle East, and Africa.
A selection of Companies mentioned in this report includes
- C H Boehringer Sohn AG & Co KG
- Virbac
- Ark Naturals
- Beaphar
- FoodScience LLC
- Nutri-Pet Research Inc.
- CEVA Logistics
- Canna Companion
- NOW Foods
- Nestle S.A
- Nutramax Laboratories Inc.
- Orion Corporation
- Zydus Animal Health and Investments Limited
- Krka d d Novo mesto
- Animalcare Limited
- Ourofino Saude Animal
- Eco Animal Health Group plc
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $2.23 billion |
| Forecasted Market Value (USD) by 2027 | $3.23 billion |
| Compound Annual Growth Rate | 9.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/comx4
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