Dublin, May 15, 2025 (GLOBE NEWSWIRE) -- The "Pet Supplements Market Opportunities and Strategies to 2034" has been added to ResearchAndMarkets.com's offering.
The global pet supplements market is on a robust growth trajectory, with market value poised to escalate from $2.27 billion in 2024 to a projected $4.94 billion by 2034. This expansion is backed by a compound annual growth rate (CAGR) of 7.84% from 2024 to 2029, followed by an increased CAGR of 8.34% towards 2034. Key factors influencing this growth include heightened pet ownership and the rising demand for premium and chronic-condition-targeted pet products.
The pet supplements market, which witnessed significant developments during the historical period of 2019-2024, faced challenges such as the rising costs of pet food. Looking forward, factors such as increased pet healthcare expenditure, a growing emphasis on animal welfare, and the influence of pet insurance are expected to fuel the market growth, though economic instability remains a potential hurdle.
The market is notably concentrated, with ten major players comprising 48.65% of the market as of 2023. Among the leading companies, Nestle SA (Purina PetCare Co) holds a substantial 11.76% share, followed by Mars Petcare Inc, Virbac Animal Health Ltd, and others. North America leads the geographical segments, accounting for 38.21% of the market in 2024, with expectations for Asia Pacific and North American regions to be the fastest-growing segments at respective CAGRs of 8.42% and 7.90%.
Product segmentation within the market reveals that probiotics claim the largest portion at 28.60%, with an anticipated increase particularly in the multivitamins segment, projected to grow at a CAGR of 8.72% from 2024 to 2029. In terms of product form, chewable supplements dominate with a 46.03% share, and powders are predicted to be the fastest-growing format with a 9.34% CAGR in the same period.
Application-wise, hip and joint supplements lead with 37.70% of market share, while skin and coat applications are set to experience the highest growth. Dog supplements comprise the largest pet type market segment with 48.22%. However, cat supplements are projected to grow rapidly at a CAGR of 8.70% between 2024 and 2029.
Retail stores currently represent the largest distribution channel, yet the online e-commerce segment is anticipated to grow swiftly at a CAGR of 9.09% during the forecast period. The USA is likely to contribute significantly, adding $304.8 million to market size by 2029.
Emerging market trends include the launch of innovative plant-based and vegan supplements, an expansion in manufacturing capabilities, strategic alliances, and a shift towards liquid supplements. Recent key mergers and acquisitions include transactions by Fressnapf, Morgan Stanley Capital Partners, Petz, and other major industry players, reflecting strategic efforts to enhance market reach and product offerings.
For companies looking to capitalize on these growth opportunities, strategies include focusing on plant-based supplements, expanding manufacturing and distribution capabilities, and leveraging e-commerce platforms coupled with targeted digital marketing campaigns.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 313 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value (USD) in 2024 | $2.27 Billion |
| Forecasted Market Value (USD) by 2034 | $4.94 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
Major Market Trends
- Launch of Innovative Plant-Based and Vegan Supplements
- Expansion of Manufacturing Capabilities To Meet Rising Consumer Demand
- Role of Strategic Alliances in Expanding Pet Supplement Reach
- Shift Towards Liquid Pet Supplements
Key Mergers and Acquisitions
- Fressnapf Acquired Arcaplanet
- Morgan Stanley Capital Partners Acquired FoodScience
- Petz and Cobasi Merged To Form Brazil's Largest Pet Retailer
- The Nutriment Company Acquired PETMAN
- Swedencare Acquired MedVant
- Vetnique Labs Acquired Lintbells
- Zenex Animal Health Acquired Ayurvet
- General Mills Acquired Fera Pets Inc.
- Gryphon Investors Acquired Vetnique Labs
- Real Pet Food Company Acquired People for Pets
Companies Featured
- Nestle SA (Purina PetCare Co.)
- Mars Petcare Inc.
- Virbac Animal Health Ltd.
- PetIQ Inc.
- Archer Daniel Midland Co.
- Alltech Inc
- Schell & Kampeter Inc. (Diamond Pet Foods)
- Merck Animal Health
- Zoetis Inc.
- Affinity Petcare S.A
- EBOS Group Limited
- Sasaeah
- Zesty Paws
- Seek Pet Food
- Wonderfur
- Scratch
- Real Pet Food Co
- CJ CheilJedang Corp
- Zenex Animal Health
- UNICHARM
- Inaba Petfood Co. Ltd
- Leadr Pet
- Nectar of the Dogs
- ZamiPet
- PT Trouw Nutrition Indonesia
- Scarecrow Incorporated
- Drools Pet Food Private Limited
- Boehringer Ingelheim
- FarmaPet
- Metex Noovistago
- Dr.Clauder solutions for pets GmbH
- Fressnapf
- Richell Italia S.r.l
- PetVets
- TiendaAnimal
- Trixie Espana
- Pet Remedy
- VetUK
- Pooch And Mutt
- Grupo Molino Chacabuco
- Microsules Argentina Laboratory
- Agroindustrias Baires S.A
- Laboratorio Drug Pharma Chile Invetec S.A
- Vetnique Labs
- Fera Pets Inc
- General Mills
- Native Pet
- PetIQ
- Greenies
- Buddy And Lola
- Nutramax Laboratories, Inc
- Champion Pet Food
- Mars Petcare
- Nestle Purina Petcare Company
- Microsules Laboratory
- Grupo Molino Chacabuco
- Cobasi
- Petz
- Agroindustrias Baires S.A
- Petco
- Canidae Pet Food
- Natural Balance Pet Foods, Inc
- Nestle
- Comfort Click Ltd
- Vetas Veterinary Products
- Egy Vet Care
- RAM For Feed Manufacturing
- Cagatay Pet Food Egypt
- BestMate - Grand Cereals Limited
- Masulas Nigeria Limited
- PetsGlobal
- Montego Pet Nutrition
- Ultra Pet
- BJK Industries
- Pet Heaven
- Maltento
- Woolworths Holdings Limited
- Arogya Paw
For more information about this report visit https://www.researchandmarkets.com/r/2bbf8c
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