Global Pet Dietary Supplement Market : Key Players, Growth, Analysis 2020 to 2026
Pet Dietary Supplement Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of pet dietary supplement market by by pet type (dog, cat, bird, and other pet types), supplement (glucosamine, omega 3 fatty acids, probiotics & prebiotics, multivitamins, antioxidants, proteins & peptides), distribution channel (online, and offline) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the pet dietary supplement market it includes the five years Industry analysis and the 6 years annual forecast from to 2026. Some of the prominent participants in the global pet dietary supplement market are VetriScience Laboratories, Ark Naturals, Nestle Purina Pet Care, NOW Food, Virbac, Kemin Industries, Zoetis, Bayer, and Novotech Nutraceuticals. The global pet dietary supplement market is projected to grow upto USD 3.5 by 2026, growing with a CAGR of 6.4% over 2020-2026.
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Pet Dietary Supplements Can Make Sure the Immune System is Uncompromised and Alert to Attack Which is the Major Driving Factor for the Market
Pet dietary supplements can make sure the immune system is uncompromised and alert to attack which is the major driving factor for the market. A balanced, robust immune system reduces pet’s risk of heart disease, inflammation, cancers, osteoarthritis, and diabetes. A pet’s body will automatically regulate cells to make sure they’re working properly while eliminating potentially harmful pathogens before they become a problem. Along with a balanced diet and regular exercise, vitamins with high-quality, purity-tested ingredients will increase your dog’s ability to fight illness throughout their life. Furthermore, growing disposable income, increasing spending power, easy availability of pet dietary supplements products and increased acceptance of pets among the millennials are some factors that are promoting the growth of the pet dietary supplements industry.
However, the high cost of pet dietary supplements products and services are likely to restrain the growth of the pet dietary supplements market in some low-income regions. Besides, the growing migration of pet owner towards online channels is encouraging e-commerce giants such as Amazon, Walmart, Chewy.com, and PetCo into pet dietary supplements industry that is anticipated to facilitate the growth of the pet dietary supplements market over the forecast period. Pet dietary supplements sales surged during initial COVID-19 lockdowns in March 2020, as consumers stocked up on all sorts of goods; then sales experienced a significant falloff as shopping habits normalized somewhat. In e-commerce, which has exploded since the pandemic began, pet dietary supplements sales soared in 2020.
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North America Holds the Largest Market Share in the Global Pet Dietary Supplements Market
Geographically, North America holds the largest market share in the global pet dietary supplements market. More than half of all Americans have a dog or a cat in their home and Americans spend over $50 billion per annum on their pets. For animals, the U.S. Food and Drug Administration (FDA), Center for Veterinary Medicine (CVM) regulates two classes of products: food and drugs. Depending on the intended use, an animal dietary supplement is considered either a food or drug. The Asia Pacific is anticipated to grow at the fastest rate over the forecast period. The growing adoption of pets, the growth of the disposable income in nuclear families and growing online retail are contributing to the growth of the Asia Pacific pet dietary supplements market.
Pet Dietary Supplement Market: Segmentation
The report on the global pet dietary supplement market covers segments such as pet type, supplement, and distribution channel. On the basis of pet type, the sub-markets include dog, cat, bird, and other pet types. On the basis of supplement, the sub-markets include glucosamine, omega 3 fatty acids, probiotics & prebiotics, multivitamins, antioxidants, proteins & peptides, and others. On the basis of distribution channel, the sub-markets include online, and offline.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the pet dietary supplement.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2026.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.