Pet Supplements Market Developments and Forecast by 2031

The pet supplements market size is projected to reach US$ 3.54 billion by 2031 from US$ 2.40 billion in 2023. The market is expected to register a CAGR of 5.0% in 2023–2031. The rising consumer preference towards natural ingredients in pet supplements is likely to be a key trend in the global pet supplements market. Nowadays, pet parents are checking the nutrients and additives included in pet supplements to ensure that their pets are getting the most appropriate and beneficial care. Thus, the rising awareness among pet parents regarding the benefits of natural ingredients has fueled the demand for natural pet supplements globally.

Pet Supplements Market Analysis

One of the major factors driving the growth of the pet supplement market is strategic initiatives by the key market players. The rising demand for nutrient-rich, premium, and personalized pet products has increased product innovations by pet supplement manufacturers. They are focusing on the development of innovative, safe, and premium quality pet supplements. Also, they are diversifying their product portfolios by launching a variety of pet supplement products with different forms and health benefits. For instance, in June 2024, ADM announced the European launch of seven turnkey pet product formulas designed for a market that increasingly prioritizes the holistic health of pets. Offered in soft chews and supplement powder sachet formats, these functional formulas feature highly sought-after wellness claims that are science-backed and compliant with European regulations, providing consumers with trusted options to support their pets' wellness journey.

Pet Supplements Market Overview

Pet supplements are products offering additional nutrients such as vitamins, trace elements, minerals, or a combination of these in different forms. Pet supplements help improve the immune system and reduce the risk of inflammation, cancer,  heart disease, diabetes, and others. In addition,  pet supplements also help to enhance the ability to fight problems such as bacterial infection, itchy skin, and environmental allergies and improve skin health. The pet supplement market is driven by factors such as increasing the adoption of pets and rising concerns about animal welfare. The global pet supplement market is segmented based on form, pet type, and distribution channel. Based on form, the market is segmented into chewable, powder, and others. The chewable segment held the largest share of the pet supplements market in 2023.

Pet Supplements Market: Strategic Insights

Pet Supplements Market Drivers and Opportunities

Rising Number of Pet Owners to Favor Market Growth

In recent years, the increasing disposable income of people and the growing interest of people in pet adoption have supported the pet culture in many countries across the globe. The increasing pet ownership in various countries is driving the pet supplement market growth. Moreover, owing to the onset of the COVID-19 pandemic, many people were working from home and self-isolating; this change in lifestyle inspired many households to own pets.  Many people felt safe with an animal companion that provided emotional and mental support during the pandemic.

Consumer Preferences for E-Commerce Platform– An Opportunity

In recent years, the use of e-commerce platforms has increased across the globe. A few of the key factors driving the sales of various products, including pet supplements, through e-commerce platforms are an increase in penetration of smartphones and the internet, a rise in the purchasing power of consumers, and convenient shopping experiences offered by these online retail platforms. Many people prefer online retail platforms to purchase pet supplements due to the availability of various products from different brands, detailed product descriptions, consumer ratings and reviews, discounts, offers, and home delivery services. During the COVID-19 outbreak, consumer inclination toward online shopping has increased. With the rising consumer preference for e-commerce platforms, pet supplement manufacturers are enhancing their online presence by selling their products through e-commerce platforms, such as Walmart, Amazon, and Lidl. Thus, increasing consumer preference for e-commerce platforms offeres a huge opportunity for pet supplement manufacturers to provide their products through e-commerce platforms and increase their customer base and profit margins.

Pet Supplements Market Report Segmentation Analysis

Key segments that contributed to the derivation of the pet supplements market analysis are form, pet type, and distribution channel.

• Based on form, the pet supplements market is divided into chewable, powder, and others. The chewable segment held a larger market share in 2023.
• By pet type, the market is segmented into dogs, cats, and others. The dogs segment held the largest share of the market in 2023.
• In terms of distribution channel, the market is divided into online and offline. The offline segment dominated the market in 2023.

Pet Supplements Market Share Analysis by Geography

The geographic scope of the pet supplements market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the pet supplements market in 2023. The North America pet supplements market is growing significantly due to the increasing pet humanization, which is boosting the demand for pet treats, food, and supplements. Also, the rising awareness about the high nutritional benefits of pet supplements is influencing consumers' purchasing decisions. Further, the rising awareness among pet parents regarding the benefits of natural ingredients is boosting the demand for natural pet supplements in North America.

Pet Supplements Market Regional Insights

The regional trends and factors influencing the Pet Supplements Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Pet Supplements Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Pet Supplements Market Report Scope

Pet Supplements Market Players Density: Understanding Its Impact on Business Dynamics

The Pet Supplements Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Pet Supplements Market News and Recent Developments

The pet supplements market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for pet supplements and strategies:

Mars Petcare is entering the supplements category by introducing Pedigree Multivitamins. This new product line consists of three types of soft chews specifically designed to meet the essential needs of pets. The Pedigree Multivitamins aim to support immunity, promote healthy digestion, and provide joint care for pets. (Source: Mars Petcare/Press Release, 2023)

• Native Pet has launched The Daily, a new all-in-one supplement for dogs that was developed over the past two years. (Nutraceuticals World, Company Website/News/2023)

Pet Supplements Market Report Coverage and Deliverables

The "Pet Supplements Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed Porter's Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles