Organic Micronutrient Supplements Improve Joint Health of Pets
Pet dietary supplements are gaining increased popularity among pet parents, owing to their treatment capabilities for various types of allergies, digestive issues, and anxiety in pets. Companies in the pet dietary supplement market are increasing research efforts to introduce organic dog supplements. These efforts are being made to innovate in multivitamin organic supplements. As such, multivitamins supplement segment of the pet dietary supplement market is estimated to reach an output of ~42,500 units by the end of 2027. Hence, manufacturers are making multivitamin supplements available in popular forms of powders and chews. Apart from powders and chews, manufacturers in the market of pet dietary supplement are producing palatable forms of supplements in the mode of oils and sprays to meet the pet and pet parent’s convenience. They are increasing the availability of probiotics to support the immunity and digestive health of cats and dogs.
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Various drivers are contributing for the uptake of multivitamin supplements. Recovery from illnesses or surgeries or other problems, such as arthritis and joint discomfort, are creating high demand for organic pet supplements. Hence, pet nutrition laboratories are developing gold-standard vitamin/mineral supplements that easily complement all diets of dogs. They are also leveraging opportunities in micronutrients and probiotics to support muscle growth in dogs.
Microbiome Boosts Sales of Pet Dietary Supplements
Pet owners are becoming increasingly aware about microbiome analysis of pets. This awareness is prominent in the market for pet dietary supplement, owing to its benefits toward gut health. There are supplements targeted toward health of gastrointestinal tract of pets. As such, the gastrointestinal tract application segment of the pet dietary supplement market is estimated to reach a value of ~US$ 500 Mn in 2019. Hence, veterinary clinicians are suggesting pet owners about the advantages of microbiome to support their pet’s gut health.
Microbiome provides the right kind of guidance to owners about which vitamins and minerals are effectively absorbed by pets. Hence, companies in the pet dietary supplement market, such as AnimalBiome – an innovator in animal health is creating awareness about microbiome tests to improve the health of pets. Innovations in this novel test are anticipated to even replace antibiotics. More number of pet owners are benefitting from microbiome supplementation, since it encourages the faecal microbiota transplantation in cases of heavy antibiotic exposure or infections by pathogens.
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Companies Leverage Opportunities in Hemp-based Pet Dietary Supplements
High prevalence of symptoms and issues in pets are triggering the uptake of pet dietary supplements. Submissions of safety studies are in the pipeline to gain approval for pet dietary supplements containing plant-based CBD (Cannabidiol) and hemp in the U.S. Apart from meat being the key ingredient in pet supplements, companies are increasing their efficacy in unconventional ingredients, such as hemp and CBD. However, risks associated with hemp-based supplements, such as rare forms of epilepsy in pets pose as a challenge for manufacturers in the U.S. Hence, U.S.-based manufacturers are presenting safety studies that warrant zero CBD concentrates or synthetics in hemp-based supplements under regulations introduced by the National Animal Supplement Council (NASC).
Companies in the pet dietary supplement market are adopting human supplement categories to develop novel pet supplements supporting joint health. They are increasing the production of glucosamine supplements to meet pet needs. As such, in terms of supplement, the glucosamine segment of the pet dietary supplement market is anticipated to reach an output of ~38,500 units by 2027.
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Increased Focus on Health Issues Gives Rise to Palatable Immunity-boosting Supplements
Supplements rich in Omega 3 fatty acids are improving the quality of life of pets. Companies in the pet dietary supplement market are observing trends to strategically market their products. For instance, manufacturers are increasing the production of dog products, since supplement purchases for dogs is higher, as compared to cats. Joint health issues and the need for supplements that reduce inflammation are attracting the attention of pet owners. Manufacturers in the pet dietary supplement market are exploring incremental opportunities in supplements that improve cognitive health and immunity of pets.
Analysts’ Viewpoint
The pet dietary supplement market is largely fragmented with five manufacturers accounting to ~23% of the total market stake. This has created revenue opportunities for emerging players, looking to innovate in niche categories of amino acid supplements that are used to reduce anxiety and stress in cats and dogs.
Hemp and CBD supplements are some of the major trends in the pet dietary supplement market landscape. However, strict rules outlined by the NASC acts as barrier for manufacturers. Hence, manufacturers should maintain transparency by demonstrating third-party lab tests to comply with regulations. Apart from nutritional supplements, manufacturers should increase the production of bone broths that enhance the overall pet’s diet.
Pet Dietary Supplement Market: Overview
- According to a latest market report published by Transparency Market Research on the pet dietary supplement market for the period 2019–2027 (wherein 2019 to 2027 is the forecast period and 2018 is the base year), increase in pet ownership and pet population across the globe is expected to drive the pet dietary supplement market
- Globally, revenue generated by the pet dietary supplement market accounted for ~US$ 3.2 Bn in 2018, which is expected to expand at a CAGR of 4.5%, in terms of value, during the forecast period
Pet Humanization and Rise in Pet Population: A Key Driver of Pet Dietary Supplement Market
- Increasing pet ownership, owing to altering cultural and socioeconomic factors is influencing the growth of the pet care and service industry. Changes in consumer lifestyle and rising disposable income have also spurred pet adoption. Rising awareness of pet nutrition based on age, weight, breed, and physical activity to maintain the overall health and growth of the pet is also one of the factors responsible for the growth of the pet dietary supplement market.
- Rise in pet clinic services across the globe that offer regular check-ups and diagnosis of pets is also a reason for the growth of pet dietary supplements, as veterinary doctors and nutritionists recommend pet owners to provide basic essential macronutrients and minerals such as proteins and vitamins to their pets.
- The pet population across the globe is simultaneously increasing pet ownership; this is likely to promote the health and wellness of pets and promote the sale of pet dietary supplements in the near future
Expansion of e-Commerce Industry: A Significant Opportunity for Pet Dietary Supplement Market
- Evolution of the e-Commerce industry has created huge opportunities for manufacturers and distributors of pet dietary supplements. Producers and suppliers of pet dietary supplements are focusing on selling their products on various e-Commerce websites in order to cater to a comprehensive range of customers across the world. Online shopping is expected to take precedence over offline modes of distribution in various industries in the near future.
- Online sale of pet dietary supplements offer customers a wide array of products provided by several e-Commerce portals such as Chewy, Amazon.com, and Walmart. Online reviews and feedback of pet dietary supplements also help clients to choose the best product or brand available in the market.
Rise in Trend of Organic Pet Dietary Supplements: A Key Trend
- Increase in trend of opting for natural or organic pet dietary supplements is anticipated to create lucrative opportunities for manufacturers and distributors in the market. These days, pet owners are also aware about the ingredients used in the production of pet dietary supplements. Pet owners expect the dietary supplement for their pets to be made without artificial nutraceutical additives, flavors, colors, preservatives, antibiotics, or toxic pesticides. Increasing awareness about the carcinogenic effect of artificial ingredients or additives used in preparing dietary supplements is leading to their avoidance by consumers.
- Manufacturers of pet dietary supplements are offering dietary supplements with unique flavors that work well for different pet species. The ingredients in nutraceutical pet dietary supplements tend to taste bitter or sour. Hence, different flavorings can increase the palatability for both canines and felines.
Resisting Behavior of Pets to Hamper Growth of Pet Dietary Supplement Market
- Pets suffering from certain conditions such as dental infection, recent vaccination, pain, liver problems, or kidney failure often result in resisting behavior. Therefore, the pets have to be injected drugs instead of nutraceutical supplements. Pets may also sometimes get an allergic reaction due to specific ingredients while ingesting the supplements. This may raise concerns about the product among consumers.
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Pet Dietary Supplement Market: Competition Landscape
- Detailed profiles of manufacturers of pet dietary supplements have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the pet dietary supplement market include
- Ark Naturals Co.
- Boehringer Ingelheim International GmbH
- Kemin Industries, Inc.
- Nestlé S.A.
- Novotech Nutraceuticals, Inc.
- NOW Health Group Inc.
- Nutramax Laboratories Inc.
- Nutri-Pet Research Inc.
- Virbac Corporate
- Zoetis Inc.
Pet Dietary Supplement Market: Key Developments
- Prominent manufacturers in the pet dietary supplement market are increasing investment on research & development to undertake innovations and enhancement of products to meet the needs of customers. Manufacturing companies are also planning to expand their product portfolio and presence in various geographies through mergers & acquisitions and tie-ups with distributors and retailers.
Other key developments in the pet dietary supplement market are highlighted below:
- In July 2019, General Nutrition Centers, Inc. collaborated with Banco de Franquias of Brazil and launched an innovative solution called Beyond Raw Lit AF, an advanced formula which provides energy to fuel workouts and personalized daily vitamin packs
- In February 2019, Nutramax Laboratories Veterinary Sciences, Inc. expanded its Imuquin line with the launch of Imuquin Cat, an immune health supplement for cats, six weeks or older
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