NEWARK, Del, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The pet dietary supplement market is predicted to be valued at US$ 4,269.1 million in 2023 and US$ 8,288.4 million by 2033. Over the projection period, the pet dietary supplement market is expected to surge at a CAGR of 7.3%. Pet owners are increasingly seeking tailor-made dietary supplements for their furry companions. Companies utilize advanced technologies and data analytics to create personalized supplement plans catering to each pet's needs and health conditions.
As the stigma surrounding CBD and hemp products diminishes, these natural alternatives are gaining traction in pet supplements. Pet owners are exploring the potential therapeutic benefits of these substances, leading to a surge in product offerings in this category. An emerging driver is the emphasis on eco-conscious choices in the packaging of pet dietary supplements. Consumers are looking for brands that prioritize sustainable materials and environmentally friendly practices, thus influencing their purchasing decisions.
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Companies are increasingly cutting out the intermediary and selling directly to consumers online. This trend simplifies accessibility and allows pet owners to interact directly with brands, fostering trust and loyalty. Veterinarians are playing a pivotal role in educating pet owners about dietary supplements. Their endorsements and recommendations carry significant weight, leading to increased awareness and sales of these products.
Key Takeaways from the Pet Dietary Supplement Market:
- The pet dietary supplement market in the United States will likely hold a 24.9% market share in 2023.
- The United Kingdom is poised for a 5.0% CAGR by 2033.
- China is at the forefront, anticipating an 11.3% CAGR surge by 2033.
- The glucosamine segment to hold a market share of 5.20% through 2023.
- FMI predicts the joint health segment to hold a market share of 5.90% through 2023.
“The pet dietary supplement market is poised for exponential growth, driven by increasing pet owner awareness of holistic pet health and the demand for premium, natural products.” Says Nandini Roy Choudhury, Client Partner at Future Market Insights
How Key Players are Revolutionizing the Pet Dietary Supplement Market?
Key players drive a transformative revolution in the ever-evolving pet dietary supplement market. These industry leaders recognize the growing demand for pet health and wellness, resulting in a surge of innovation. They invest heavily in research and development, creating products tailored to the specific needs of dogs, cats, and other companion animals. They prioritize natural and organic ingredients, catering to health-conscious pet owners.
E-commerce platforms and personalized subscription services have also streamlined accessibility, making it easier for pet owners to find the right supplement. Combining science, consumer preferences, and accessibility, these key players are revolutionizing the pet dietary supplement market, promoting happier, healthier pets.
Product Portfolio
- Nestle SA, a global leader in food and beverage, offers an extensive product portfolio catering to diverse tastes and nutritional needs. From beloved confectioneries to wholesome cereals and infant nutrition, Nestle continues to innovate, ensuring quality and sustainability in every bite.
- Mars Incorporated tantalizes taste buds with a stellar product range, including iconic brands like Snickers, M&M's, and Pedigree. Their commitment to quality and a wide range of treats for humans and pets alike ensures everyone finds a reason to smile.
- NOW Foods is dedicated to holistic wellness, providing a comprehensive selection of supplements, essential oils, and natural products. Their products are crafted to support a healthier lifestyle, backed by quality and purity, offering vitality one bottle at a time.
More Insights Available
Future Market Insights offers an unbiased analysis of the pet dietary supplement market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the pet dietary supplement market, the report is segmented on the basis of Product Type (Glucosamine, Probiotics, Multivitamins, Omega-3 fatty acids and Others), Application (Joint Health, Digestive Health, Weight Management, Skin and Coat Health, Dental Care and Others), across 7 major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and Middle East & Africa).
Scope of Report:
| Attribute | Details | |||
| Estimated Market Size in 2023 | US$ 4,269.1 million | |||
| Projected Market Valuation in 2033 | US$ 8,288.4 million | |||
| Value-based CAGR 2023 to 2033 | 7.3 | % | ||
| Forecast Period | 2023 to 2033 | |||
| Historical Data Available for | 2018 to 2022 | |||
| Market Analysis | Value in US$ million | |||
| Key Regions Covered |
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| Key Market Segments Covered |
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Pet Dietary Supplement Market Segmentation:
By Product Type:
- Glucosamine
- Probiotics
- Multivitamins
- Omega 3 fatty acids
- Others
By Application:
- Joint Health
- Digestive Health
- Weight Management
- Skin and Coat Health
- Dental Care
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
Explore Future Market Insights, Inc. Extensive Coverage in Food and Beverage Domain:
- Dietary Supplements Market Size: The Market will likely exceed US$ 163.66 billion by 2033. The market players can anticipate a compelling CAGR of 9.1% through 2033.
- Insoluble Dietary Fiber Market Growth: This Market is valued at US$ 2,200 Million and is expected to develop at a 9.2% CAGR, reaching US$ 5304.6 Million.
- Probiotic Supplements Market Outlook: The Global Market is estimated to be valued at US$ 7,078.1 million in 2023. It is anticipated to reach US$ 23,977.9 million in 2033.
- Digestive Health Supplements Market Overview: The Market is estimated to reach US$ 17,160 million in 2023. With demand expanding at a 6% CAGR, the market size is projected to reach US$ 29,648.6 million over the forecast period.
- Nootropic Supplement Market Trends: This Market is expected to expand from US$ 2,200 million in 2023 to US$ 4,180 million by 2033. From 2023 to 2033, these global Market sales are likely to soar at 9.0% CAGR.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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