Dublin – (BUSINESS WIRE) – December 17, 2021 –
The report “Global Pet Nutritional Supplements Market by Distribution Channel (Offline and Online), by Pet Type (Dogs, Cats, Others), by Regional Forecast, Industry Analysis and Forecast Report, 2021 – 2027” has been added to ResearchAndMarkets.com Offerings. .
The global pet supplement market size is expected to reach $2.1 billion by 2027, growing at a compound annual growth rate of 6.3% over the forecast period.
The main players in the market
- Dechra Pharmaceuticals PLC
- Nestlé SA
- Elanco Animal Health, Inc.
- Zoetis, Inc.
- Nutramax Laboratories, Inc.
- NOW Foods, Inc.
- natural material ship
- Kemin Industries, Inc.
- FoodScience Corporation (Wind Point Partners)
- Honest Bowes, LLC
The pet supplement is a rich source of nutrients, vitamins, proteins and minerals. It has become very popular in emerging nations, due to the significant increase in the humanization of pets and the increase in disposable income in these countries. Moreover, consumers are becoming more aware of the general health of pets, thus accelerating the demand for products that help promote health, promote longevity, and avoid many ailments such as soothing, skin, coat, hip and joint problems.
The increasing spending on pet grooming around the world and the significant increase in pet adoptions are fueling the growth of the market. Pet owners willingly spend a huge amount of money to keep their pets healthy, which leads to more spending on pet health. The players in the pet food supplement market are constantly unique and innovative products that are more efficient, better tasting, durable and health-giving in order to meet the ever-increasing demands of consumers. According to the American Pet Products Association, household adoption of pets grew exponentially in the United States in 2016. The increase in pet care expenses is responsible for massive pet adoptions.
Analysis of the impact of COVID-19
The COVID-19 outbreak has severely affected various industries around the world. However, sales of pet nutritional supplements have increased due to increased consumer interest as a result of COVID-19, particularly in products intended to enhance immunity, overall health and reduce anxiety.
In the majority of countries, borders have been closed, which has had a direct impact on the export and import of pet supplements and the manufacturing process. In addition, the supply chain was disrupted, which slowed down the entire market. People have stayed indoors with their pets throughout the lockdown, which has boosted sales of pet nutritional supplements. The decline in the number of cases of COVID-19 and the start of widespread vaccinations in many countries with the aim of providing treatment to patients suffering from the Corona virus is expected to accelerate the growth of the pet food supplement market.
Market Growth Factors:
The trend of humanizing pets is expected to positively influence the purchasing patterns of consumers
In the past two years, the humanization of pets has gained a lot of popularity. It is critical to understand the impact of pet humanization on consumers’ pet food purchasing patterns. The American Pet Products Association (APPA) conducted a study that revealed that more than 76.8 million households in the United States have one or more pets, with 39% of homes having dogs. Pet owners prefer to increase their annual spending on pet nutritional supplements as pets have become more and more members of the family.
Online sales boom is set to boost market growth
The players operating in the global pet food supplement market are experiencing tremendous growth opportunities due to the booming e-commerce sites. For pet owners, pet foods and nutritional supplements act as an important method against disease. Manufacturers in the pet food supplement market are strengthening their focus on functional ingredients in products that offer prevention, maintenance, and treatment of specific pet health problems.
Market Restriction Factor:
Uncertain regulatory scenario impedes market growth
According to the Federal Food, Drug, and Cosmetic Act of 1938 (FFDCA), animal food must be safe for consumption and made under hygienic conditions. Foods must not contain harmful substances and must carry appropriate labels. The Food Safety Modernization Act of 2010 (FSMA) launched standards associated with sterilization, certification, hygiene, and ingredient labeling for pet food makers in the United States.
Main topics covered:
Chapter 1. Market Scope and Methodology
Chapter 2. Market Overview
2.2 Main factors affecting the market
2.2.1 Market Drivers
2.2.2 Market Restrictions
Chapter 3. Competition Analysis – Global
3.1 Cardinal matrix
3.2 Recent strategic developments at the industry level
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product launches and product expansions
3.2.3 Acquisition and Merger
3.2.4 Geographical expansions
3.3 The most important profit strategies
3.3.1 Key Leading Strategies: Relative Distribution (2017-2021)
3.3.2 Key strategic move: (Partnerships, Collaboration and Agreements: 2018, January – 2021, April) Key players
Chapter 4. Global Pet Food Supplement Market by Distribution Channel
Chapter 5. Global Pet Supplements Market by Pet Type
Chapter 6. Global Pet Food Supplements Market by Region
Chapter 7. Company Profiles
For more information on this report, visit https://www.researchandmarkets.com/r/3iusjc
View source copy on businesswire.com: https://www.businesswire.com/news/home/20211217005413/ar/
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Industry Keyword: Retail Consumer Health Specialty Pet Veterinary
Source: Research and Markets
Copyright Business Wire 2021.
Published: 12/17/2021 10:39 a.m. / Disc: 12/17/2021 10:39 a.m.