The report segments the global pet dietary supplements market by product type (joint-health support pet supplements, pet dietary supplements for skin and coat, pet dietary supplements for gastrointestinal tract, and pet dietary supplements for liver and kidney support), by pet type (dog dietary supplements and cat dietary supplements), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global pet dietary supplements market, according to Technavio consumer and retail researchers:
- Pet humanization and increasing focus on health and wellness of pets: a major market driver
- Omnichannel retailing: emerging market trend
- In 2017, the Americas dominated the global pet dietary supplements market and accounted for a revenue share of approximately 42%
- In 2017, the dog dietary supplements sector held the largest share of the market
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
Pet humanization and increasing focus on health and wellness of pets: a major market driver
Pet humanization and increasing focus on health and wellness of pets are one of the major factors driving the global pet dietary supplements market. Pet humanization denotes the consideration of the physical and emotional needs of pets and treating them as a part of the family. Several people treat their pets like a family member and are willing to spend a little extra on good quality food, health, and hygiene needs. Besides, it has been found that the level of spending on a pet's diet and healthcare directly correlates to the affection pet owners have for them. Thus, the intent to ensure good health of pets is driving the demand for value-added products such as pet dietary supplements among pet owners.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Omnichannel retailing: emerging market trend
The players in the global pet dietary supplements market have realized the immense potential of omnichannel retailing and are using it to certify that their product offerings get maximum visibility. Players use a mix of distribution channels such as retail stores and online stores for improving customer engagement through omnichannel retailing. They are also selling products through the medium of e-commerce portals, which has witnessed a major uptick in sales over the last few years.
According to a senior analyst at Technavio for research on pet supplies, “With the growth in e-commerce, brands are concentrating on delivering improved services to their customers by analyzing the buying trends of visitors on their shopping portals and by personalizing their online shopping experiences. The omnichannel retailing trend is expected to grow exponentially during the forecast period. Pet dietary supplement manufacturers will leverage omnichannel retailing to maximize product visibility.”
Global market opportunities
In 2017, the Americas dominated the global pet dietary supplements market and accounted for a revenue share of approximately 42% in terms of value. It was followed by EMEA and APAC. This exponential growth in the region can be attributed to the increasing care and concern for pets, high affordability for pet care products, and rising awareness of the health-promoting benefits of pet dietary supplements among pet owners.
Technavio’s best deals of the month!
Technavio supports Health for All campaign on this World Health Day with 20% savings on all reports in the Health and Wellness category for the entire month.
Celebrate International Astronomy Day by indulging in a whopping 30% savings on all reports in the Space category. Offer valid from 16th April for a limited period.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.