Pet Supplements Market to Reach $4.68 Billion by 2031

Pet Supplements Market to Reach $4.68 Billion by 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Pet Supplements Market—Global Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication from Meticulous Research^®, the pet supplements market is expected to reach $4.68 billion by 2031, at a CAGR of 7.5% from 2024 to 2031.

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The rising pet ownership, increasing awareness of pet health, and humanization of pets and availability of pet supplements driving the growth of the pet supplements market. Additionally, the increasing demand for organic and natural pet supplements and emerging markets in Asia-Pacific and Latin America create significant opportunities for market players. Furthermore, the increasing demand for customized pet supplements and growth of online retailing and e-commerce platforms are major trends in the pet supplements market.

Key Players

The pet supplements market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the pet supplements market are Mars Inc. (U.S.), Bayer AG (Germany), Blue Buffalo Company, Ltd (U.S.), FoodScience, LLC (U.S.), Four Paws Inc (U.S.), Nestlé Purina PetCare Company (U.S.), Nutramax Laboratories, Inc. (U.S.), Virbac Corporation (U.S.), The Higgins Group Corp. (U.S.), Novotech Nutraceuticals, Inc. (U.S.), Forza10 America (U.S.), NOW Health Group, Inc. (U.S.), Kemin Industries, Inc. (U.S.), and Zoetis Services LLC (U.S.).

The pet supplements market is segmented based on type, form, source, pet type, function, and distribution channel. This study also evaluates industry competitors and analyzes the regional and country-level markets.

Among the types studied in this report, in 2024, the multivitamins segment is expected to dominate the pet supplements market. The rising shift towards multivitamins to fill the nutritional gap of pets, the aging pet population, and the rising focus on preventive healthcare contribute to the segment’s dominant position in the pet supplements market. Pet owners are more focusing on preventive health measures to avoid potential health issues, leading to a higher demand for multivitamins that support overall wellness.

Among the forms studied in this report, the chewable segment is anticipated to hold the dominant position, with a large share of the pet supplements market in 2024. The convenience, ease of administration and palatability, and more user-friendly and enjoyable forms of supplementation for pets supports the segment's dominance in the pet supplements market.

Among the pet types studied in this report, in 2024, the dog segment is expected to dominate the pet supplements market. The rising number of dog adoptions, increasing demand for premium dog supplements, and rising awareness about dog health and wellness contribute to the segment’s dominant position in the pet supplements market.

Among the functions studied in this report, the hip & joint segment is anticipated to hold the dominant position, with a large share of the pet supplements market in 2024. The aging pet population, rising incidence of joint issues in dogs, and increasing awareness of pet health, contribute to the segment’s dominant position in the pet supplements market. Many hip and joint supplements contain ingredients like glucosamine, chondroitin, and omega fatty acids, which are recognized for their benefits in supporting joint health.

Among the distribution channels studied in this report, the offline segment is anticipated to hold the dominant position, with a large share of the pet supplements market in 2024. The wide range of supplements availability and the convenience of physical shopping contribute to the segment’s dominant position in the pet supplements market.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (France, Spain, Italy, Germany, U.K., Netherlands, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Indonesia, Malaysia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), and the Middle East & Africa (South Africa, Saudi Arabia, UAE, and the Rest of Middle East & Africa).

Among the geographies studied in this report, in 2024, North America is expected to dominate the pet supplements market. The substantial share of this regional market can be attributed to the several factors, such as rising pet ownership, increasing pet health expenditures, growing awareness about the pet health, aging pet population, and increasing demand for premium and customized pet supplements. In 2024, the U.S. is expected to account for a larger share of the pet supplements market in North America. According to the American Pet Products Association's National Pet Owners Surveys, in 2023, the U.S. has 86.9 million families owns a pet.

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