DUBLIN--(BUSINESS WIRE)--The "Global Veterinary Dietary Supplements Market Size, Share & Trends Analysis Report by Animal Type (Livestock, Companion), by Application, by Type, by Dosage Form, by Distribution Channel, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global veterinary dietary supplements market size is anticipated to reach USD 3.2 billion by 2028. The market is expected to expand at a lucrative CAGR of 8.2% from 2021 to 2028.
Companies Mentioned
- Boehringer Ingelheim
- Virbac
- Ark Naturals Company
- Beaphar
- FoodScience
- NOW Foods
- Nutramax Laboratories, Inc.
- Nutri-Pet Research, Inc.
- Ceva
- Canna Companion
- Nestle
Joint health and skin and coat health supplements have been the most purchased veterinary supplements. COVID-19 pandemic, however, disrupted trends in market with a surge in demand for digestive health and immunity-boosting supplements. The COVID-19 outbreak accelerated awareness among pet owners of condition-specific supplements with stress-reducing, immune-supporting, and calming outcomes. The pandemic also catalyzed the steady transition from brick-and-mortar purchases to e-commerce channels. The dramatic shift to online purchasing is expected to continue over the forecast period.
According to a 2021 study published in the U.S. National Library of Medicine, about 10 to 33% of cats and dogs are given dietary supplements in the U.S. Amongst these, joint and digestive health supplements have been the most popular along with cognition, skin and coat, and cardiovascular health supplements. The average lifespan of pets has also increased over the past few decades which makes them susceptible to chronic conditions such as joints disorders, liver problems, and cardiovascular diseases. According to a review article published in the Journal of Feline Medicine and Surgery, aged pets including cats older than 11 years comprise a significant proportion of the companion animal veterinarian's patient population. These factors are estimated to contribute to the market growth in the coming years.
Veterinary Dietary Supplements Market Report Highlights
- The companion animals segment dominated the market in 2020 and is also projected to grow the fastest from 2021 to 2028. The increasing pet population and expenditure is estimated to propel segment growth over the forecast period
- The livestock animals' segment is estimated to grow notably over the forecast period due to increasing use of supplements by livestock operations facilities and feed manufacturers to enhance the value of their products
- Dogs accounted for 42.2% of the companion animal segment due to increasing availability of canine supplements and growing preference for dogs as pets
- The joint health support segment accounted for the highest revenue share of 21.9% in 2020 due to rising incidence of chronic orthopedic disorders
- The multivitamins and minerals segment held revenue share of 27.4% in 2020 while the CBD segment is expected to witness a CAGR of 11.0% in the next few years
- In 2020, the gummies and chewables segment accounted for the largest revenue share while the powders segment is anticipated to witness the highest CAGR over the forecast period
- The offline channels segment comprising pet specialty stores, retail, and others, held the largest revenue share of the market in 2020
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Veterinary Dietary Supplements Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Penetration & Growth Prospect Mapping, 2020
3.3 Veterinary Dietary Supplements Market Dynamics
3.3.1 Market driver analysis
3.3.1.1. Increasing pet population and humanization
3.3.1.2. Increasing premiumization of pet products
3.3.1.3. Rising prevalence of chronic conditions in livestock and companion animals
3.3.1.4. Rising demand for organic pet supplements
3.3.1.5 Need to boost profitability while protecting health of livestock animals
3.3.2 Market restraint analysis
3.3.2.1. Lack of standardized regulations
3.3.2.2. Lack of adequate research
3.3.2.3. Lack of awareness about pet supplements and their benefits in developing markets
3.3.3. Market opportunity analysis
3.3.4. Market challenge analysis
3.4 Veterinary Dietary Supplements Market Analysis Tools: Porters
3.5 Veterinary Dietary Supplements Industry Analysis - PEST (Political & Legal, Economic, Social, and Technological)
3.6 Livestock and Companion Animal Population, by Country
Chapter 4 COVID-19 Impact Analysis
4.1 COVID-19 Prevalence Analysis
4.2. Impact of COVID-19 on Veterinary Dietary Supplements Market
4.3. Strategies implemented by companies
Chapter 5 Veterinary Dietary Supplements Market: Segment Analysis, By Animal Type, 2016 - 2028 (USD Million)
Chapter 6 Veterinary Dietary Supplements Market: Segment Analysis, By Application, 2016 - 2028 (USD Million)
Chapter 7 Veterinary Dietary Supplements Market: Segment Analysis, By Type, 2016 - 2028 (USD Million)
Chapter 8 Veterinary Dietary Supplements Market: Segment Analysis, By Dosage Form, 2016 - 2028 (USD Million)
Chapter 9 Veterinary Dietary Supplements Market: Segment Analysis, By Distribution Channel, 2016 - 2028 (USD Million)
Chapter 10 Veterinary Dietary Supplements Market: Regional Market Analysis 2016 - 2028 (USD Million)
Chapter 11 Veterinary Dietary Supplements Market - Competitive Analysis
11.1 Market Participant Categorization
11.2. List of Key Companies
Chapter 12 Veterinary Dietary Supplements Market - Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/z3w3l8
