According to the latest report by IMARC Group, titled “Pet Supplement Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global pet supplement market size reached US$ 1.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 1.6 Billion by 2027, exhibiting a growth rate (CAGR) of 6.3% during 2022-2027.This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Global Pet Supplement Market Overview:
Pet supplements are processed food that contains concentrated sources of nutrients to compensate for protein, vitamin, or mineral deficiencies in pets, including dogs, freshwater fishes, cats, reptiles, birds, and horses. These elements are mixed with meats, carbohydrates, and fat components to provide a whole meal for pets and improve their health. They are backed with prebiotics, antioxidants, probiotics, essential fatty acids, vitamins, dietary fiber, and minerals. They also contain omega-3 fats, biotin, methionine, zinc, thiamine, L-tryptophan, valerian, magnesium, and chamomile. Regular consumption of pet supplements helps enhance the immune system, reduce allergy symptoms, maintain a healthy response, and prevent diarrhea among pets.
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Pet Supplement Market Growth and Trends 2022:
The global market is primarily driven by the rising awareness among pet owners about the health benefits of pet supplements. In line with this, the emerging nuclear family trend and increasing consumer expenditure power have surged pet adoptions, which is acting as another factor accelerating the market growth. Apart from this, the growing demand for organic pet supplements and surging concerns regarding the quality and safety of the product are providing an impetus to market growth. In line with this, key market players are heavily investing in research and development (R&D) activities to perform well-controlled clinical trials to determine the safety and effectiveness of the supplements, which is bolstering the market growth.
The top competitors in the Pet Supplement Market, as highlighted in the report, are:
Market Segmentation of the Pet Supplement Market:
The report has segmented the pet supplement market on the basis of pet type, distribution channel, source and application and region.
Breakup by Pet Type:
Breakup by Distribution Channel:
Breakup by Source:
Breakup by Application:
Breakup by Region:
Explore Report Description with TOC & List of Figure: https://www.imarcgroup.com/pet-supplement-market/toc
Key Highlights of the Report:
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