Equine Supplement Products Market Size, Share & Trends, 2028

Equine Supplement Products Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Supplements (Proteins, Vitamins, Enzymes, Electrolytes, and Others); Application ( Performance Enhancement/Recovery, Join Disorder Prevention, and Others); Distribution Channel (Veterinary Hospital Pharmacies, Retail Pharmacies, and Others) and Geography

Publication Month : Jun 2021

  • Report Code : TIPRE00008012
  • Category : Food and Beverages
  • Status : Published
  • No. of Pages : 166
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The equine supplement products market is expected to reach US$ 1,15,932.42 thousand in 2028 from US$ 89,436.31 thousand in 2021. The market is estimated to grow with a CAGR of 3.8% from 2021 to 2028.

Key factors that are driving growth of the market are benefits offered by equine supplement products and increase in prevalence of diseases in equines. However, adverse effects exhibited by improper consumption of equine supplements are likely to hinder the Equine Supplement Products market growth.

Lucrative Regions for Equine Supplement Products Market


Lucrative Regions for Equine Supplement Products Market
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Market Insights

Benefits Offered by Equine Supplement Products

Equine supplement products are frequently used by horse owners and caregivers to add additional nutrition to their horse’s diet. These supplements aid in preventing the deficiencies of the electrolytes, vitamins, minerals, as well as improve overall health of the horses, thereby balance their diet to improve their athletic performance. Owing to the advantages such as alleviating a health issue, preventing occurrence of health issues, and modifying the equine behavior, the equine supplement products have gained significant importance as a nutritional food.
Nutrients such as methionine, biotin, and zinc support the health of the equine family by improving the digestive health from probiotics. Moreover, the consumption of equine supplement products results in increased horn quality, develop healthier coat and skin among horses by enhancing the production of collagen and keratin. Also, equine supplement products help the horses to calm down their nervous system. In addition, some of the specific types of supplements help in better joint health with improved synovial fluid support.
The high-performing horses constantly burn-up their energy, and require higher-than regular levels of proteins, which is unable to receive from common feed. Thus, high-quality horse supplements such as equine supplement products enable horses to restore their reservoirs of adenosine triphosphates (ATPs), which are the primary molecules stimulating contractions in the horse muscles.
Thus, the advantages offered by balanced consumption of equine supplement products are likely to account for the growth of the market during the forecast years.

Supplements-Based Insights

Based on supplements, the equine supplement products market is segmented into electrolytes/minerals, vitamins, proteins/amino acids, and enzymes. In 2021, the electrolytes/minerals by supplement segment accounted for the highest share of the market. Growth of this segment is attributed to demand for herbal equine supplements, increase in incidence of equine diseases, and surge in government initiatives. The same segment is estimated to register higher CAGR during the forecast period.

Equine Supplement Products Market, by Type – 2021 and 2028


Equine Supplement Products Market, by Type – 2021 and 2028
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Application-Based Insights

Based on application, the equine supplement products market is segmented into performance enhancement/recovery, join disorder prevention, and others. The performance enhancement/recovery segment held the largest share of the market in 2021 and join disorder prevention segment is anticipated to register the highest CAGR in the market during the forecast period.

Distribution Channel-Based Insights

The equine supplement products market, by distribution channel, is segmented into veterinary hospital pharmacies, retail pharmacies, and others. The veterinary hospital pharmacies and clinics segment held the largest share of the market in 2021, whereas the online segment is anticipated to register the highest CAGR of 4.6% in the market during the forecast period.

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Equine Supplement Products Market: Strategic Insights

equine-supplement-products-market
Market Size Value inUS$ 89,436.31 thousand in 2021
Market Size Value byUS$ 1,15,932.42 thousand by 2028
Growth rateCAGR of 3.8% from 2021-2028
Forecast Period2021-2028
Base Year2021
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Shejal

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The key players such as Boehringer Ingelheim International GmbH; EQUINE PRODUCTS UK LTD.; Kentucky Equine Research; Lallemand, Inc.; Plusvital Limited; Purina Animal Nutrition LLC.; Vetoquinol SA; Virbac; Zoetis Inc.; and Cargill, Incorporated adopt several organic and inorganic strategies to enhance their revenue and market standings. For instance, in February 2020, Equine Products UK Ltd has launched No More Bute – a complementary feed supplement for horses containing bioavailable Curcumin. It has up to 185 times more bioavailability than native sourced Turmeric and Curcumin. Moreover, in June 2019, Boehringer Ingelheim partners with Constantia Flexibles to develop packaging solution for equine nutritional supplement, Nutraxin. The product packaged in the innovative CONSTANTIA Interactive packaging solution is currently available in Germany and the Netherlands.

Equine Supplement Products Market – by Supplements

  • Electrolytes/minerals
  • Vitamins
  • Proteins/Amino Acids
  • Enzymes

Equine Supplement Products Market – by Application

  • Performance Enhancement/Recovery
  • Join Disorder Prevention
  • Others

Equine Supplement Products Market – by Distribution Channel

  • Veterinary Hospital Pharmacies and Clinics
  • Retail Pharmacies and Drug store
  • Online

Equine Supplement Products Market – by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Taiwan
    • Rest of Asia Pacific
  • Middle East and Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East &Africa
  • South and Central America (SCAM)

    • Brazil
    • Argentina
    • Rest of South and Central America

Company Profiles

  • Boehringer Ingelheim International GmbH
  • EQUINE PRODUCTS UK LTD.
  • Kentucky Equine Research
  • Lallemand, Inc.
  • Plusvital Limited
  • Purina Animal Nutrition LLC.
  • Vetoquinol SA
  • Virbac
  • Zoetis Inc.
  • Cargill, Incorporated
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Supplements ; Application ; Distribution Channel and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What are equine supplement products?

The feeding of horses, and other equines is referred to as equine nutrition. Effective and balanced feeding is an important part of proper horse care. Thus, anything provided to a horse in addition to a natural forage diet is referred to as an equine supplement. Grain is a supplement in the strictest sense of the word. However, the phrase has evolved to refer to any additional nutrients (such as vitamins and minerals, extra protein, energy, and so on) that are given to a horse's ration to make up for any deficiencies in the diet.

What are the driving factors for the equine supplement products market across the globe?

Benefits offered by equine supplement products and increase in prevalence of diseases in equines are the key factors driving the market growth. However, adverse effects exhibited by improper consumption of equine supplements are likely to hinder the market growth.

What is the regional market scenario of equine supplement products?

Global Equine Supplement Products market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In North America, the U.S. is the largest market for Equine Supplement Products. The market in the regions is driven by increase in the use of horses for sports activities, growing emphasis on overall equine health and wellness, and increase in the use of electrolytes supplements. In addition, the Asia Pacific is expected account for the fastest growth in the Equine Supplement Products market. An increasing awareness about Equine Supplement Products therapies through government support coupled with grow at a rapid pace due to rise in the use of horse feeds, especially for race horses and increase in the number of horse clubs in China is anticipated to offer lucrative opportunities for the growth of Asia Pacific equine supplement products market during the forecast period.

The List of Companies - Equine Supplement Products Market

  1. Boehringer Ingelheim International GmbH
  2. EQUINE PRODUCTS UK LTD.
  3. Kentucky Equine Research
  4. Lallemand, Inc.
  5. Plusvital Limited
  6. Purina Animal Nutrition LLC.
  7. Vetoquinol SA
  8. Virbac
  9. Zoetis Inc.
  10. Cargill, Incorporated

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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