The Veterinary Dietary Supplements Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Veterinary Dietary Supplements Global Market Report 2024, The veterinary dietary supplements market size has grown strongly in recent years. It will grow from $2.21 billion in 2023 to $2.43 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to increased pet ownership, veterinary recommendations, humanization of pets, pet obesity awareness, availability of specialized formulations, advancements in pet nutrition science.
The veterinary dietary supplements market size is expected to see rapid growth in the next few years. It will grow to $3.67 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to customized nutrition solutions, pet population growth, e-commerce expansion, focus on specific health conditions, rise in preventive healthcare spending, nutraceutical innovations, holistic pet care approach.. Major trends in the forecast period include natural and organic ingredients, expansion of distribution channels, joint health supplements for aging pets, research and development in animal nutrition, regulatory compliance and standards, collaborations and partnerships..
The increase in population of companion and livestock animals is expected to propel the veterinary dietary supplements market going forward. Companion animals include all domesticated animals whose physical, emotional, behavioral, and social requirements can be easily met, such as dogs, cats, and other animals, whereas livestock animals refer to domesticated animals that are raised in an agricultural setting to provide labor and produce commodities such as bovines. In companion and livestock animals, veterinary dietary supplements help to provide a high-nutrient diet to meet the animal’s need for proper growth and development. For instance, in 2021, according to Eurostat, a Luxembourg-based statistical office of the European Union (EU) responsible for publishing high-quality Europe-wide statistics, the livestock population in the European Union was around 142 million pigs, 76 million bovine animals, 60 million sheep, and 11 million goats. Therefore, the increasing population of companion and livestock animals is driving the growth of the veterinary dietary supplements market.
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The veterinary dietary supplements market covered in this report is segmented –
1) By Type: Omega 3 Fatty Acids, Proteins and Peptides, CBD, Multivitamins and Minerals, Probiotics and Prebiotics, Other Types (Antioxidants)
2) By Dosage Form: Tablets and Capsules, Gummies and Chewables, Powders, Liquids, Other Dosages (Injectables, Paste)
3) By Distribution Channel: Online or E-commerce, Offline
4) By Application: Joint Health Support, Calming or Stress or Anxiety, Digestive Health, Energy and Electrolytes, Immunity Support, Skin and Coat Health, Other Applications (Kidney, Urinary Tract, Liver, Cardiovascular, Weight Management)
Major companies operating in the veterinary dietary supplements market are focusing on innovating products, such as the wellness supplements, to provide reliable services to customers. Wellness Supplements are first line of pet supplements designed to support dog’s health and wellbeing and available in five varieties. For instance, in January 2023, Wellness Pet Company, a US-based pet food company, launched Wellness Supplements. Wellness Supplements consists in five formulations, such as move health supplements, calm health supplements, shield health supplements, belly health supplements, and shine supplements. Wellness Supplements are composed of high-quality ingredients and diverse tasty flavors. These supplements promote healthy digestion, healthy immune system and seasonal allergies, healthy skin and coat for dogs.
The veterinary dietary supplements market report table of contents includes:
1. Executive Summary
2. Veterinary Dietary Supplements Market Characteristics
3. Veterinary Dietary Supplements Market Trends And Strategies
4. Veterinary Dietary Supplements Market – Macro Economic Scenario
5. Global Veterinary Dietary Supplements Market Size and Growth
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26. South America Veterinary Dietary Supplements Market n
27. Brazil Veterinary Dietary Supplements Market
28. Middle East Veterinary Dietary Supplements Market
29. Africa Veterinary Dietary Supplements Market
30. Veterinary Dietary Supplements Market Competitive Landscape And Company Profiles
Top Major Players:
- C H Boehringer Sohn AG & Co KG
- Virbac
- Ark Naturals
- Beaphar
- FoodScience LLC
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