Dublin, April 27, 2023 (GLOBE NEWSWIRE) -- The "Pet Supplements Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Form, Pet Type, and Distribution Channel" report has been added to ResearchAndMarkets.com's offering.
The pet supplements market size is expected to grow from US$ 2,281.70 million in 2022 to US$ 3,200.77 million by 2028. It is expected to grow at a CAGR of 5.8% from 2022 to 2028.
Companies Mentioned
- Zesty Paw LLC
- Comfort Click Ltd.
- Arrowleaf Naturals Ltd.
- Four Paws Inc.
- Nutramax Laboratories Consumer Care Inc.
- FoodScience LLC
- Nordic Naturals Inc.
- Thorne Vet Inc.
- Dorwest Herbs Ltd.
- Pethonesty LLC.
Pet supplements are processed food made of plant and animal raw materials with a concentrated source of nutrients to compensate for protein, vitamins, or mineral deficiencies. These supplements provide essential nutrients to animals, which helps to improve the overall growth of the pets.
An increasing number of product innovations to meet the rising demand for health and convenience, growing demand for immunity-boosting pet supplements, and rising consumer preference for e-commerce platforms are a few of the factors driving the growth of the pet supplements market. The pet supplements market is segmented on the basis of form, pet type, and distribution channel.
Based on distribution channel, the pet supplements market is bifurcated into online and offline. The offline segment accounted for a larger share of the pet supplements market in 2021. However, the online segment is expected to register a higher CAGR during the forecast period.
China, India, Japan, and other countries in Asia Pacific faced significant challenges due to the COVID-19 pandemic. Lockdowns, trade bans, business shutdowns, and other government restrictions curbed the growth of the pet food industry, including the businesses of pet supplement providers.
However, the demand for pet supplements increased during the first quarter of 2020 as people stocked up on pet products in response to lockdowns and travel bans. Moreover, growing awareness about the well-being of pets, inclination toward pet humanization, and changes in socioeconomic aspects propelled the demand for pet supplements in the region. These supplements help keep pets healthy and improve their immunity.
In 2021, governments of several countries in Asia Pacific eased social restrictions and permitted manufacturing companies to operate at full capacities. This helped pet supplement producers to overcome the demand and supply gaps, which eventually led to the market growth.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 153 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $2281.7 million |
| Forecasted Market Value (USD) by 2028 | $3200.77 million |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Pet Supplements Market Overview
4.1 Market Overview
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Materials
4.3.2 Manufacturing/Processing
4.3.3 Packaging and Distribution
4.4 Expert Opinion
5. Pet Supplements Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Number of Pet Owners
5.1.2 Strategic Developments by Key Market Players
5.2 Market Restraints
5.2.1 Stringent Regulatory Framework
5.3 Market Opportunities
5.3.1 Consumer Preferences for E-Commerce Platform
5.4 Future Trends
5.4.1 Consumer Preference for Natural Ingredients in Pet Supplements
5.5 Impact Analysis of Drivers and Restraints
6. Pet Supplements - Global Market Analysis
6.1 Pet Supplements Market Overview
6.2 Pet Supplements Market -Revenue and Forecast to 2028 (US$ Million)
6.3 Competitive Positioning - Key Market Players
7. Pet Supplements Analysis - By Form
7.1 Overview
7.2 Pet Supplements Market, By Form (2021 and 2028)
7.3 Chewable
7.3.1 Overview
7.3.2 Chewable: Pet Supplements Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Powder
7.4.1 Overview
7.4.2 Powder: Pet Supplements Market - Revenue and Forecast to 2028 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Pet Supplements Market - Revenue and Forecast to 2028 (US$ Million)
8. Pet Supplements Market Analysis - By Pet Type
8.1 Overview
8.2 Pet Supplements Market, By Pet Type (2021 and 2028)
8.3 Dogs
8.3.1 Overview
8.3.2 Dogs: Pet Supplements Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Cats
8.4.1 Overview
8.4.2 Cats: Pet Supplements Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Pet Supplements Market - Revenue and Forecast to 2028 (US$ Million)
9. Pet Supplements Analysis - By Distribution Channel
9.1 Overview
9.2 Pet Supplements Market, By Distribution Channel (2021 and 2028)
9.3 Online
9.3.1 Overview
9.3.2 Online: Pet Supplements Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Offline
9.4.1 Overview
9.4.2 Offline: Pet Supplements Market - Revenue and Forecast to 2028 (US$ Million)
10. Pet Supplements Market - Geographic Analysis
11. Impact of COVID-19 Pandemic on Pet Supplements Market
11.1 Impact of COVID-19 on Pet Supplements Market
11.2 North America: Impact Assessment of COVID-19 Pandemic
11.3 Europe Impact Assessment of COVID-19 Pandemic
11.4 Asia Pacific: Impact Assessment of COVID-19 Pandemic
11.5 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
11.6 South & Central America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/2x7zc0
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