Pet Dietary Supplements Market Share, Trends, Revenue, Growth Drivers, CAGR Status, Challenges and Future Investment Strategies Till 2033


Pet Dietary Supplements Market Share, Trends, Revenue, Growth Drivers, CAGR Status, Challenges and Future Investment Strategies Till 2033: SPER Market Research

 Category : Food & Beverages

 Published: Nov-2023
 Author: SPER Analyst

Pet Dietary Supplements Market is projected to be worth USD 8.38 billion by 2033 and is anticipated to surge at a CAGR of 7.51%.

Pet supplements are any substances that are added to a pet's normal diet. These supplements contain components that are meant to promote the health of your pet. Supplements are high in vitamins and minerals. These substances provide pets with a variety of nutritional and therapeutic benefits. To mention a few, supplements include vitamins, minerals, amino acids, herbs, botanicals, and enzymes.

Global Pet Dietary Supplements Market Driving Factors and Challenges

Drivers: A rise in pet humanization is partly attributed to shifts in cultural and economic contexts. The demand for supplements for pet health is also being driven by an increase in disposable income. Pet owners view their animals as members of the family or even as stand-ins for their offspring. They give pets the same consideration and care as they give people. Spending more on nutritional supplements for pets is being encouraged by these advances. Additionally, the market value of pet dietary supplements is rising as a result of the growing understanding of pet nutrition based on factors including age, weight, breed, and physical activity. Supplements added to pet food help maintain the overall health and physical well-being of pets. Personalized animal health products are more likely to be sought after by pet owners who humanize their animals.

Challenges: The pet food supplement market is growing quickly, but it also has a lot of obstacles to overcome, which could affect its dynamics. One key issue is the absence of extensive regulations governing the creation and promotion of these supplements. Pet supplements differ in terms of product quality and efficacy from human nutritional supplements because there are no established standards for them. The safety and validity of the supplements pet owners give their animals are a source of concern due to the legal ambiguity.

Impact of COVID-19 on Global Pet Dietary Supplements Market
The COVID-19 pandemic affected almost every aspect of day-to-day living. The probability of people acquiring a new pet rose as they grew more alone. Globally, pet ownership is growing, especially among millennials. The market for pet dietary supplements is predicted to rise as a result of the expanding pet population and the resulting variety of health needs.

Pet Dietary Supplements Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Ark Naturals Virbac, Blue Buffalo Co. Ltd., GNC, Mars Incorporated, Nestle SA, Novotech Nutraceuticals Inc, NOW Foods, PetAg, Inc, Vetclassics, Others.

Global Pet Dietary Supplements Market Segmentation:

By Product Type: Based on the Product Type, Global Pet Dietary Supplements Market is segmented as; Glucosamine, Probiotics, Multivitamins, Omega 3 fatty acids, Others.

By Application: Based on the Application, Global Pet Dietary Supplements Market is segmented as; Joint Health, Digestive Health, Weight Management, Skin and Coat Health, Dental Care, Others.

By Region: This report also provides the data for key regional segments of North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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