Global Pet Supplements Market Share Will Grow to USD 1023.8 Million by 2026 – Facts & Factors
New York, NY, Nov. 19, 2020 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Pet Supplements Market By Type (Pills, Chewable Tablets, Powders, Liquids, Sprays, and Others), By Application (Dogs, Cats, Horses, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
According to the research study, the global Pet Supplements Market was estimated at USD 637.6 million in 2019 and is expected to reach USD 1023.8 million by 2026. The global Pet Supplements Market is expected to grow at a compound annual growth rate (CAGR) of 7% from 2020 to 2027.
Rising Pet Adoption, Increasing Endorsements Of Veterinary Supplements For The Preservation Of Overall Pet Wellbeing, Improvements In Socio-Economic Factors And Propensity To Animal Humanization Are Driving The Global Pet Supplements Market.
Pet supplements contain important nutrients to help strengthen the immune system and reduce the risk of heart disease, cancer, diabetes, and inflammation. In addition, pet vitamins such as fish oil, biotin, and amino acids increase the skin’s capacity to deal with typical issues such as bacterial infections, skin itching, and reactions to the setting. By adding antioxidants, such as vitamin E, vitamin C, L-carnitine, and coenzyme Q-10, they also enhance cognitive growth. Nowadays, owners are more anxious about their pets’ health and well-being. The growth of Pet supplements market is impelled by several advantages of dietary supplements. Supplements strengthen the immune system, reduce the risk of heart, metabolism, and cancer issues, and improve the health of the skin and coat. Adoption of dogs, on the other hand, keeps people safe and fit, resulting in improved supplement purchases. For example, it helps to relieve anxiety, avoid heart diseases, increase the quality of sleep, and reduce blood pressure. Therefore, in recent years, many welfare benefits associated with dogs have enhanced their adoption around the globe.
Browse through 47 Tables & 123 Figures spread over 185+ Pages and in-depth TOC on “Global Pet Supplements Market Size & Share 2020 Research Report: Industry Trends, Growth, Segments, Analysis and Forecast to 2026”.
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As buyers generally look to do their home projects on their own, the pet supplements market continues to take a positive trend. Yet it has become even more competitive in the market. Companies are striving by ad investments and promotions to raise brand awareness. To drive revenue, the intensified rivalry has resulted in several businesses raising promotional activity. In addition, with the help of point of sale details and multi-painted and layered QR codes, businesses mainly focus on growing product recognition among retailers and consumers. These QR codes provide in-depth awareness of the product’s ingredients and suitability. Therefore, simple availability, along with comprehensive product details, has improved the offline channel’s market value. Through deep perspectives across the Omni channel and online distribution platforms, PetSmart has expanded its consumer service. These experiences can help the company boost consumer engagement in a range of sectors, including creativity in product and service, customer communications, and loyalty.
Consumers are mostly happy with online shopping; rising mobile adoption and growing internet retailing are expected to drive the pet supplement market share in the future. In the coming years, the easy availability of supplements through offline and online distribution channels will fuel market growth. As a result of growing endorsements for veterinary supplements for the preservation of optimal pet wellbeing, the industry is experiencing substantial expansion. In order to backup professional advice and also include the larger product information and samples, some retailers are now collaborating with nearby veterinary facilities. The demand for pet supplements is widely fragmented and is readily available in supermarkets, medical shops, as well as online shopping thanks to continuing social media advertising efforts. A lack of standardization of ingredients, however, may impede the growth of the demand for pet supplements.
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Top Market Players
Some of the leading and top pet supplements companies in the pet supplements market include GCP, AGT, Focus Pet supplements, Imerys, Superior Pet supplements, Mersen, Bora Bora Resources, RS Mines, Beijing Sanye, Qingdao Ruisheng, Lomiko Metals, Qingdao Huatai, Shenzhen Jinzhaohe, Cable Consultants, AoYu Pet supplements, Northern Pet supplements, Alabama Pet supplements, Asbury Pet supplements Mills, Inc., CCGG, Flinders Resources Ltd., Energizer Resources Inc., Showa Denko, Mason Pet supplements, Pet supplements India Limited, SGL Carbon SE, and SEC Carbon Limited, among others. Vetericyn, released All-In, a life-stage dog supplement, in 2019. In order to enhance intestinal, bone, emotional, and immune health, it provides vital foods a dog requires at its specific stage of life, whether a child, adult, or senior. In addition, Birdnip released Nootropic dog vitamins in 2018 to improve memory, emotional clarity, and promote cognitive fitness.
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Based on product type, the worldwide pet supplements market can be segmented into chewable tablets, pills, liquids, powders, sprays, and others. In 2019, the ‘Pills’ category was the leading revenue-generating category was accounted for more than 30.0% share. Based on the application category, the global pet supplements market can be categorized into cats, dogs, horses, and others. In 2019, the “Dogs” category was the leading revenue-generating category was accounted for more than 30.0% share. A life-stage dog booster, branded All-In, was introduced in 2019 by Vetericyn. In order to enhance intestinal, bone, emotional, and immune health, it provides vital foods a dog requires at its specific stage of life, whether a child, adult, or senior. In addition, Birdnip released Nootropic dog vitamins in 2018 to improve memory, emotional clarity, and promote cognitive fitness. In order to strengthen the joints and avoid arthritis, dietary supplements such as glucosamine and chondroitin help. Omega-3 fatty acid, recognized for its anti-inflammatory effects on the skin, is another commonly available supplement for cats. Therefore, over the projected timeframe, many benefits of feeding dietary supplements to cats would raise the market for cat supplements.
The market for pet supplements is also growing with increasing trends in organic food feeding and herbal supplements for pets. Nowadays, owners owe the welfare and well-being of their dogs more priority. When they strengthen the immune system, reduce the risk of heart attacks, digestion disorders, and cancer, and improve the health of the skin and coat, they become aware of the benefits of dietary supplements. In terms of geography, the North America region was the leading region in terms of volume as well as revenue market share among other regions. This is due to the high adoption of pets and growing pet humanization. Moreover, growing concerns about safety against skin allergies and health disorders have largely propelled the demand for pet supplements in North America. Due to rising urbanization, the growing trend of families, and shifting attitudes towards animals, Asia Pacific is expected to experience the highest CAGR among other regions over the projected period, resulting in increased rates of pet adoption in developing countries. Dogs are more common in India than cats, birds, and horses. Dog supplements will account for a large share of the demand in this area in the coming years.
Browse the full “Pet Supplements Market By Type (Pills, Chewable Tablets, Powders, Liquids, Sprays, and Others), By Application (Dogs, Cats, Horses, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026″ report at https://www.fnfresearch.com/pet-supplements-market-type-pills-chewable-tablets-powders-880
This report segments the global pet supplements market as follows:
Global Pet Supplements Market: Type Analysis
- Chewable Tablets
Global Pet Supplements Market: Application Analysis
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