Pet Supplements Market to Reach $4.68 Billion by 2031- Exclusive Report by Meticulous Research®

REDDING, Calif., Dec. 2, 2024 /PRNewswire/ -- According to a new market research report titled, 'Pet Supplements Market Size, Share, Forecast, & Trends Analysis by Type (Probiotics & Prebiotics, Antioxidant), Form (Pills/Tablets), Source, Pet Type (Dog, Cat), Function (Hip & Joint, Weight Management), Distribution Channel (Online)—Global Forecast to 2031,' the pet supplements market is expected to reach $4.68 billion by 2031, at a CAGR of 7.5% from 2024 to 2031.

The pet supplements market is experiencing growth, primarily driven by increasing pet ownership, rising awareness of pet health, the humanization of pets, and greater availability of pet supplements. However, the high cost of premium pet supplements and the lack of standardization in the industry restrain the market's growth.

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Additionally, the rising demand for natural and organic pet supplements, along with increasing demand from developing regions such as Asia-Pacific and Latin America, are expected to create significant growth opportunities for stakeholders. Moreover, the growing preference for customized pet supplements and the expansion of e-commerce are prominent trends in this market.

Key Players:

Some of the major players profiled in this report are Mars Inc. (U.S.), Bayer AG (Germany), Blue Buffalo Company, Ltd (U.S.), FoodScience, LLC (U.S.), Four Paws Inc (U.S.), Nestlé Purina PetCare Company (U.S.), Nutramax Laboratories, Inc. (U.S.), Virbac Corporation (U.S.), The Higgins Group Corp. (U.S.), Novotech Nutraceuticals, Inc. (U.S.), Forza10 America (U.S.), NOW Health Group, Inc. (U.S.), Kemin Industries, Inc. (U.S.), and Zoetis Services LLC (U.S.).

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The pet supplements market is segmented by type (multivitamin, probiotics & prebiotics, glucosamine, antioxidants, and other supplements), form (chewable, pills/tablets, and others), source (conventional and organic), pet type (dog, cats, birds, and other pets), function (hip & joint, skin & coat, digestive health, weight management, and other functions), and distribution channel (offline {pet specialty stores, supermarkets and hypermarkets, and others} and online {e-commerce websites and direct-to-consumers}). This study also provides a comprehensive analysis of the pet supplements market in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Increasing Pet Ownership

More households have adopted pets in recent years, particularly dogs and cats, driven by a need for companionship, emotional support, and the therapeutic benefits of pet ownership. Pets bring unconditional love, alleviate loneliness, and even relieve stress and anxiety. As more individuals realize the benefits, the demand for pet adoption has increased.

• Globally, according to the HealthforAnimals organization, more than 50% of the world's population is estimated to have a pet at home. In addition, families in the U.S., EU, and China alone have over 500 million dogs and cats.
• According to the North American Pet Health Insurance Association (NAPHIA), in 2023, the total number of pets insured in the U.S. was approximately 5.7 million, a 17% increase over 2022.
• According to the survey conducted by the American Pet Products Association (APPA) in 2023–2024, 66% of U.S. households own a pet, which equates to 86.9 million households. Millennials account for the largest share of 33% of pet ownership. Pet ownership has increased significantly over the past three decades. In 1988, only 56% of U.S. households owned a pet.
• In 2022, there were 104 million pet dogs in Europe, increasing from 93 million in 2021 (Source: European Pet Food Industry Federation—FEDIAF).
• Approximately 1.6 million cats get adopted every year in the U.S. (Source: American Society for the Prevention of Cruelty to Animals). In 2022, the U.S. was the leading country globally in terms of cat ownership, with more than 74 million pet cats, followed by China (53.1 million) and Russia (23 million). Also, in 2022, there were 127 million pet cats in Europe, an increase from 113 million in 2021 (source: European Pet Food Industry Federation—FEDIAF). Moreover, in 2022, Russia was the leading European country in terms of cat ownership, with 23 million pet cats, followed by Germany (15.2 million) and France (14.9 million).
• In 2023, approximately 1.3 million birds kept as indoor pets by 2.3% of households in the U.K. Also, the number of ornamental birds in Europe increased from 48 million in 2021 to 53 million in 2022. Italy and Turkey were the leading countries in Europe in the ownership of ornamental birds in 2022.

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Key Findings in the Pet Supplements Market Study:

By type, the probiotics & prebiotics segment is poised to record the highest CAGR during the forecast period of 2024–2031. The increasing prevalence of digestive issues in pets, growing awareness of the benefits of probiotics and prebiotics in promoting gut health and overall well-being in pets, and rising product innovations are expected to drive the growth of this segment.

By source, the organic segment is slated to record a higher CAGR during the forecast period of 2024–2031. The increasing demand for premium pet food products, growing demand for certified organic products in the pet food industry, growing awareness regarding concerns over artificial ingredients, and innovations in organic ingredients drive the growth of this segment.

By form, the chewable segment is poised to record the highest CAGR during the forecast period of 2024–2031. The increasing preference for easy-to-administer supplements, pet owners' demand for palatable products, and the growing trend of health-conscious pet care are key factors driving the high growth of this segment.

By pet type, the cats segment is anticipated to record the highest CAGR during the forecast period of 2024–2031. The growing demand for high-quality cat food products, increased awareness of cat health concerns, and pet owners' growing willingness to invest in their cats' health and wellness are key factors supporting the growth of this segment.

By function, the digestive health segment is slated to record a higher CAGR during the forecast period of 2024–2031. The growing number of customized nutritional formulations to address digestive issues, increasing awareness of probiotics and prebiotics, and the expanding availability of digestive health supplements through various retail channels, including online platforms and specialty stores, are key factors supporting the growth of this segment.

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By distribution channel, the online segment is slated to register a higher CAGR during the forecast period of 2024–2031. The convenience offered by online platforms, greater discounts compared to offline stores, availability of a wide range of products, the rising number of DTC (direct-to-consumer) brands, and the ease of price comparison between brands are key factors supporting the growth of this segment.

By geography, Asia-Pacific is poised to record the highest CAGR during the forecast period of 2024–2031. The growing humanization of pets in countries like South Korea, China, India, and Japan, increasing awareness regarding animal welfare, rising preference for natural and organic pet products, rising disposable incomes, and the rising adoption of pets, particularly among millennials, are key factors supporting the growth of this regional market.

Scope of the Report:

Pet Supplements Market Assessment—by Type

• Multivitamin
• Probiotics & Prebiotics
• Glucosamine
• Antioxidants
• Other Supplements

Pet Supplements Market Assessment—by Form

• Chewable
• Pills/Tablets
• Others

Pet Supplements Market Assessment—by Source

• Conventional
• Organic

Pet Supplements Market Assessment—by Pet Type

• Dog
• Cat
• Birds
• Other Pets

Pet Supplements Market Assessment—by Function

• Hip & Joint
• Skin & Coat
• Digestive Health
• Weight Management
• Other Functions

Pet Supplements Market Assessment—by Distribution Channel

• Offline
• Pet Specialty Stores
• Supermarkets and Hypermarkets
• Others
• Online
• E-commerce Websites
• Direct To Consumers

Pet Supplements Market Assessment—by Geography

• North America
• S.
• Canada
• Europe
• Germany
• France
• K.
• Italy
• Spain
• Netherlands
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• Indonesia
• Malaysia
• Rest of Asia-Pacific
• Latin America
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Middle East & Africa
• South Africa
• Saudi Arabia
• United Arab Emirates (UAE)
• Rest of Middle East & Africa

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Pet Supplements Market Research Summary

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