The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

According to The Business Research Company’s Pet Supplements Global Market Report 2023, The global pet supplements market is expected to grow from $1.98 billion in 2022 to $2.12 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The global pet supplements market size is expected to reach $2.75 billion in 2027 at a CAGR of 6.8%.

North America held the largest pet supplements market share.

Pet Supplements Market Driver
Rising concerns about animal welfare will contribute significantly to the future growth of the pet supplements market. Animal welfare refers to how an animal is treated in relation to the environment in which it lives. Pet supplements are used to provide nutrition to animals as well as treatment for various diseases in order to increase animal welfare. According to an April 2023 article published by the American Pet Products Association (APPA), a trade organisation based in the United States, OTC medical and wellness product sales are expected to rise from $31.5 billion in 2022 to $32.1 billion in 2023. Vet care and product sales are expected to rise from $35.9 billion in 2022 to $37.0 billion in 2023. As a result, increased awareness about animal welfare will fuel the need for pet supplements market.

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Key Pet Supplements Market Segments

The global pet supplements market is segmented –

1) By Supplement Type: Essential Fatty Acids, Probiotics, Antioxidants, Multivitamins, Enzymes, Other Supplements

2) By Product Form: Chewable, Soft Gels, Capsules, Other Forms

3) By Pet Type: Dogs, Cats, Other Pets

4) By Distribution Channel: Online E-commerce, Retail Stores

5) By Application: Skin And Coat, Hip And Joint, Digestive Health, Other Applications

Pet Supplements Market Prominent Players
Major players in the pet supplements market are Dechra Pharmaceuticals plc, Nestle S.A., Zoetis Inc., Nutramax Laboratories Inc., NOW Foods Inc., Ark Naturals, Kemin Industries Inc., FoodScience Corporation, Honest Paws LLC, Church & Dwight Co. Inc., Bayer Animal Health, Merck Animal Health, Ceva Santé Animale, Kemin Industries, Hill’s Pet Nutrition, and NutriScience Innovations LLC.

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Prominent Pet Supplements Market Trend
Product innovation is a crucial trend that is gaining traction in the pet supplement market. To fulfil the growing expectations of pet owners, major firms in the pet supplements market are producing novel pet supplements and launching new applications and products, such as vegan supplements. For example, in September 2022, Opal Pets, a vegan animal nutrition company based in the United States, released Perfect Powder, a new vitamin supplement. The powder is a complete vitamin, mineral, and amino acid supplement that can be used to enhance a healthy plant-based diet. Perfect Powder is high in calcium, B vitamins, amino acids, L-carnitine, taurine, and other minerals that dogs require. It’s created using organic Canadian sea kelp and algae-derived Omega 3.

The Pet Supplements Global Market Report 2023  provides comprehensive insights on the pet supplements market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the pet supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Pet Food Global Market Report 2023
Pet Wearable Global Market Report 2023
Pet Grooming Services Global Market Report 2023

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