Equine Supplement Products Market is expected to reach US$ 1,15,932.42 thousand by 2028

Electrolytes/Minerals Segment to Account for Largest Share by 2028

According to our new market research study on “Equine Supplement Products Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Supplements, Application, Distribution Channel, and Geography,” the 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 2021-2028. 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 market growth.

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.

The veterinary care industry has been witnessing rapid transformations during the previous years. Countries across the world have preferred advanced solutions and supplements that are simple for use and effective in healthcare. Countries such as China, India, and Australia are likely to be among the major contributors to this growth. The increasing rate of pet ownership, disposable income, and pet health-related awareness are among the factors that are expected to drive the market growth in the coming years.

Further, rising animal welfare across the countries and implementation of regulations for animal food and nutritional supplements manufacturing is also an important step toward the growth of the market in these regions. There has been a standard shift in the business approach of animal health companies that have evolved from therapeutics to preventive to productivity enhancement and now to overall healthcare of the animals. This is likely to promote the adoption of the equine supplements in the potential market and untapped economies.

COVID-19 virus outbreak was first observed in December 2019 in Wuhan (China), and it has spread to more than 100 countries across the world, with the World Health Organization (WHO) stating it as a public health emergency. The global impacts of COVID-19 are being felt across several markets. The pandemic is straining animal nutrition industry globally, interrupting and delaying supplies for many kinds of animal feeds and supplements. Due to the pandemic and lockdown, the supply chain of the raw ingredient has impacted the consumption and production patterns worldwide.

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 are among the leading companies operating in the equine supplement products market.

Equine Supplement Products Market, by Region, 2021 (%)

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Equine Supplement Products Market Size, Share & Trends, 2028

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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

The Report Segments Equine Supplement Products Market as Follows:

By Supplements

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

By Application

• Performance Enhancement/Recovery
• Join Disorder Prevention
• Others

By Distribution Channel

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

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • UK
  • Russia
  • Italy
• Asia Pacific (APAC)
  • China
  • India
  • Japan
  • Australia
  • Taiwan
  • South Korea
• Middle East and Africa (MEA)
  • Saudi Arabia
  • UAE
  • South Africa
• South and Central America (SCAM)
  • Brazil
  • Argentina