Dublin, September 27, 2021 (GLOBE NEWSWIRE) – The “Pet Dietary Supplements Market Analysis Report by Pet Type (Dogs, Cats), by Distribution Channel (offline, online), by Region (North America, Europe), Asia-Pacific, Central and South America ) and Segment Forecasts, 2021-2028 “report was added ResearchAndMarkets.com to offer.
The global pet food supplement market is projected to reach US $ 2.32 billion by 2028 and grow at a CAGR of 5.9% from 2021 to 2028
Sales of pet nutritional supplements spiked due to the increased consumer interest sparked by COVID-19, particularly in products that target immunity, anxiety, and general wellbeing. Joint health supplements are already high on the list when it comes to consumer buying behavior, but hip and joint health supplements are only one element of senior health.
The growing numbers of aging dogs and cats are in need of an immune response, cardiac and cognitive support products, and anti-inflammatory and analgesic aids, thanks to breakthroughs in veterinary care and pet owners’ interest in pet welfare and nutrition. Time up.
According to Packaged Facts’ 2020 Pet Owners Survey, 47% of dog owners have a dog 7 years of age or older, versus 43% in our previous study, and 43% of cat owners have a cat 7 or older, versus 39% . in our previous survey showing the growth of this pet demographic. Marketers can leverage existing products for a growing segment of the pet population by targeting the senior population with personalized products and senior-specific products such as multifunctional nutritional supplements, providing another viable avenue for market expansion.
According to a survey of pet food manufacturers carried out by Petfood Industry in April, 60% indicated higher sales via online shops. Granted, that was during the early lockdown-induced stockpiling of pet food and many other vital household goods; However, in the recent Petfood Industry Confidence Index polls of executives and other pet food professionals, e-commerce remained one of the few bright spots as business confidence lags in other areas.
Many dog owners are naturally afraid of giving their pets human-grade CBD oil. However, companies like Royal CBD and Gold Bee have developed CBD products specifically designed for less powerful pets.
Preliminary research from Baylor College of Medicine suggests that CBD oil may help treat canine osteoarthritis, which affects 20% of dogs over a year.
Pet Food Supplements Market Report Highlights
- By pet type, the dog segment made up the largest share in 2020 at over 45.0% as dogs are the most popular pets in the world with an incredibly high adoption rate
- The segment of offline sales channels had the largest share in 2020 with over 75.0% and is expected to show the fastest growth in the forecast period
- North America held the largest share at over 40.0% in 2020. An increase in the number of pet owners and increased knowledge of pet owners about various health threats are some of the factors driving regional market growth
- Company overview
- Financial performance
- Product benchmarking
- Strategic Initiatives
- Nestle Purina pet care
- Food Science Society
- Ark Naturals
- NOW groceries
- Kemin Industries, Inc.
- Novotech Nutraceuticals, Inc.
- Zoetis Inc. (platinum performance)
- Bayer AG
- Pet honesty
- Nutramax Laboratories, Inc.
- Manna Pro Products, LLC
- Honest paws
- Garmon Corporation
- Zen way
- Natural pet only
- Dechra Pharmaceuticals PLC
- Vetoquinol SA
- Vetnique Labs
Please visit https://www.researchandmarkets.com/r/65xa4g for more information on this report
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