Pet Supplements Market by Type (Over the Counter (OTC) and Prescription), Pet Type (Dogs, Cats, and Others), Form (Pills/Tablets, Chewable, Powders, and Others), Application (Skin & Coat, Hip & Joint, Digestive Health, and Others), Distribution Channel (Online and Offline), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023 – 2032

Pet Supplements Overview

The pet supplement industry is a developing sector that offers pet owners a range of goods to support the health of their four-legged family members. Vitamins, minerals, probiotics, and other elements that can promote a pet's general health can be found in pet supplements. Additionally, they might be utilized to treat particular health issues including allergies, skin conditions, or joint discomfort.

The increase in pet humanization has resulted in people spending heavily on pet food, vitamins, and other related items to keep their pets active and healthy. Supplements boost attention, focus, and energy levels in pets, as well as their immune system and heart health. Anti-stress, anti-anxiety, and relaxing supplements are also in great demand and are expected to gain popularity among pet owners. Pet owners throughout the world have been spending a lot of money on their dogs' health and diet.

Global Pet Supplement Market Analysis

The market for pet supplements is anticipated to reach USD 2.08 billion in 2022 and is predicted to grow with a CAGR of 6.1%, by generating a revenue of $3.70 billion by 2032.

COVID-19 Impact on Global Pet Supplement Market

The worldwide pet supplement market was significantly impacted by the COVID-19 pandemic. As people spent more time at home and sought more company, the pandemic increased pet ownership. Due to the rise in pet ownership, there was a greater demand for pet supplies, such as vitamins and other supplements.

The pandemic also increased people's understanding of the value of pet health. People were more willing to spend money on goods that could keep their pets healthy. The demand for pet supplements also grew as a result of the heightened consciousness about pet health. These causes led to a considerable increase in the worldwide pet supplement industry during the COVID-19 pandemic. As pet ownership and awareness of pet health continue to rise, it is anticipated that the market will expand during the ensuing years.

Increasing Awareness of Pet Health to Drive the Market Growth

Increasing number of pet owners, high awareness of pet health, availability of nutritional pet supplements, and the rising price of veterinary care are just a few of the factors that are expected to fuel the growth of the global pet supplement market in the upcoming years. Pet owners are becoming conscious of how crucial it is to give their animals a healthy diet and way of life. Pet vitamins are becoming more popular as a result, which may help to improve the health of pets. The demand for organic and holistic products is expanding, which is fueling the market's expansion. Pet owners are looking for organic and natural items for their animals. This occurs as a result of increased anxiety around the negative impacts of synthetic items. Supplements for pets are thought to be a secure and reliable technique to enhance their health. The industry is expanding due to the expanding supply of pet supplements. These days, pet vitamins come in a wide range of shapes and sizes, including capsules, tablets, powders, and liquids. Finding the ideal supplement for their animals is now simpler for pet owners.

Counterfeit Products to Restrain the Market Growth

The pet supplement market is susceptible to counterfeit goods. These fake dietary supplements could contain hazardous or subpar substances that endanger pets' lives. Consumer confidence can be damaged by the predominance of counterfeit goods, which can impede market expansion. For the pet supplement business to succeed, laws and quality requirements must be followed. Inadequate compliance may lead to product recalls, legal troubles, and reputational harm to a business. Manufacturers and distributors may face difficulties as a result of stricter laws or increased enforcement activities, which might potentially slow the expansion of the market. Owners of pets may be concerned about safety due to bad events connected to pet supplements, such as allergic responses or harmful medicine combinations. The growth of the industry may be impacted by negative publicity around such instances that breed doubt and resistance to using pet supplements.

Advancements in E-Commerce to Drive Excellent Opportunities

The buying and selling of pet supplements have been completely transformed by the growth of e-commerce and digital platforms. Manufacturers and retailers can easily access a wide variety of products through online marketplaces and direct-to-consumer websites, expanding their customer base. The accessibility and availability of pet supplements are further improved by enhanced logistics and delivery methods. Based on their unique requirements and medical situations, technology may provide dogs with personalized nutrition solutions. Analyzing pet health data and providing individualized supplement regimens includes the use of data analytics, artificial intelligence (AI), and machine learning algorithms. Options for customization can increase client happiness and loyalty, spurring market expansion.

Wearable technology, including fitness trackers and health monitors made exclusively for pets, has emerged in the pet business. These gadgets may monitor a variety of health factors, such as heart rate, activity level, and sleep habits. Such information combined with suggestions for pet supplements can assist pet owners in making educated choices regarding their pets' health and open up possibilities for new product development. The study of nutrigenomics, or how nutrition influences gene expression, might shed light on the particular nutritional requirements of various pets. Technological developments in this area can aid in the identification of important genetic markers and the creation of specialized supplements that target particular health issues or genetic predispositions. Innovation in ingredients, such as the utilization of fresh sources or better extraction methods, can also result in the creation of more powerful and bioavailable products.

Global Pet Supplement Market Size, by Type, 2022

The over-the-counter (OTC) sub-segment accounted for the highest market share in 2022. The rising demand for pet health and wellness products dominates the over-the-counter (OTC) segment of the pet supplement industry. OTC supplements are accessible without a prescription and are frequently used to give particular nutrients or to improve a pet's overall health. Because they are freely accessible and reasonably priced, these supplements are well-liked by pet owners. The OTC section of the pet supplement industry is expanding as a result of several causes. The growing understanding of the significance of pet well-being and health is one of the factors. Pet owners are becoming increasingly aware of how crucial it is to give their animals a balanced diet and enough nutrition.

Global Pet Supplement Market Share, by Pet Type, 2022

The dogs sub-segment accounted for the highest market share in 2022. This is because the number of dog opted as pets supersedes any other animal. There is a greater understanding of the value of pet nutrition to dog owners, and there is a greater desire for natural and holistic products. As more individuals decide to acquire pets, it is anticipated that this number will increase in the upcoming years. The demand for pet supplements is being driven by the increase in dog owners.

Global Pet Supplement Market Growth, by Form, 2022

The chewable sub-segment accounted for the highest market share in 2022. This is because pet owners increasingly prefer chewable nutrients to other supplement forms, such as tablets and capsules. Chewable vitamins are more convenient for pet owners because they are simple to administer and more appealing to animals. Additionally, a variety of flavors and textures are available for chewable vitamins, which may aid to appeal to pets more. The pet supplement market is split by product type, the channel of distribution, and region for the chewable segment. Chewable pills, chewable capsules, and soft chews are the several product categories that make up the market. The most common product category on the market is chewable tablets, followed by soft chews and chewable capsules. The market is divided into offline and online channels based on the means of distribution. The retail channel, then the online channel, are the two most important distribution channels in the market.

Global Pet Supplement Market Trends, by Application, 2022

The hip & joint sub-segment accounted for the highest market share in 2022. Age, weight, and injury are just a few of the causes of joint discomfort. Numerous issues, such as limping, stiffness, and trouble moving, may result from it. Pet vitamins come in a variety of forms that can all aid to ease joint pain. These supplements typically contain substances including glucosamine, chondroitin, and omega-3 fatty acids. These components can aid in improving joint function as well as reducing pain and inflammation.

Global Pet Supplement Market Outlook, by Distribution Channel, 2022

The offline sub-segment accounted for the highest market share in 2022. Supermarkets, hypermarkets, convenience stores, and neighborhood pet shops make up the majority of the pet supplement market's offline distribution channels. Multivitamins, omega-3 fatty acids, joint supplements, and skin and coat care items are just a few of the pet supplements that are available on these channels. They also provide pet owners with a practical way to buy supplements because they are frequently available in the same locations where pet owners buy food and other necessities. However, the popularity of the online distribution route is also rising. Online merchants frequently provide lower costs and a greater selection of pet supplements than physical retailers. As a result, market share growth for the internet distribution channel is anticipated in the upcoming years. The pet supplement market has a significant offline distribution channel. It provides a practical means for pet owners to get supplements, and it is anticipated to keep dominating the industry in the upcoming year.

Global Pets Supplements Market Analysis, by Region, 2022

The North America pet supplement market generated the highest revenue in 2022. In the pet supplement sector, North America has become a prominent player. Pet owners in North America are increasingly looking for nutritional supplements to improve the wellbeing of their cherished companions due to a significant focus on the health and wellness of pets. The region is noted for its expanding pet population, rising pet humanization, and rising knowledge of the advantages of pet nutritional supplements. This is a result of arthritis and other joint issues becoming more common in pets. The second-largest segment is skin and coat health. This is because there is a growing market for goods that might help pets have healthier skin and coats. The market will expand as a result of more people owning pets, a greater understanding of the value of pet health, and rising veterinary care costs.

Competitive Scenario in the Global Pet Supplement Market

Investment and agreement are common strategies followed by major market players. For instance, June 2022, Brave Paws, a pet nutraceuticals company, has released new Anxiety and Stress Support Chewables for dogs. One of the sustainable, plant-based compounds included in the supplement formulation is a special combination of botanicals for stress reduction.

Some of the leading pet supplement market players are Nestlé, FOODSCIENCE, Ark Naturals, NOW Foods, Virbac, Zoetis, Bayer AG, Pet Honesty, Nutramax Laboratories, and Zesty Paws.