Rockville, April 20, 2023 (GLOBE NEWSWIRE) -- The global dog joint supplements are estimated at US$ 544.1 million in 2023 and are expected to expand at a CAGR of 6.8% during the forecast period of 2023-2033.
Over the period of time, growing popularity of pet healthcare has created numerous opportunities for the expansion of the overall pet supplement market. As a result, manufacturers have invested and launched a number of nutritionally enriched products that can be used to treat several conditions including hip & joint infirmities. This in turn has staged incremental growth prospects for the global dog supplement leaders to enter and develop the joint supplement for dogs owing to rising incidences of elbow dysplasia, septic arthritis, cancerous arthritis, and others.
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However, the emerging trend toward organic and non-GMO products is expected to provide lucrative growth opportunities for manufacturers owing to the numerous benefits such as increased activity, obesity reduction, improved cartilage strength, healthier weight, and more.
Furthermore, incorporating fewer preservatives and organic sugar alternatives can attract customers' attention and significantly increase product sales over the forecast period. Along with weak joints, dogs do have a sensitive digestive system, so replacing grains and gluten from joint supplements & meals while readily incorporating digestion-promoting functional ingredients can boost the demand for the product and hence will offer great profit margins to the global market leaders.
Key Takeaways from Market Study
- The global dog joint supplements market is projected to expand at a CAGR of 6.8% and be valued at US$ 1,051.2 million by the end of 2033
- The market witnessed a 6.0% CAGR for the period of 2018-2023
- Under the segment life stage, the adult dogs sub-segment is estimated to dominate by augmenting a value share of 40.8% in 2023
- North America dominates the market by augmenting nearly one-third of the global market share in the year 2023
- Based on region, demand for dog joint supplements is expected to increase at CAGRs of 6.3% and 8.5%, respectively, in Europe and East Asia
- Based on the retail sales of the supplements, the sub-segment online sales are expected to garner a major market share of nearly 68.3% by the year 2023
“Robust Product Launch and Evolution in the Pet Care Industry, to Junction Prospects for Dog Joint Supplements Growth’’ says Fact.MR analyst.
Key Companies Profiled in This report
- Nutramax Laboratories
- Integricare
- Oscar Pet Food
- Vetoquinol
- Zesty Paws
- Pet Naturals
- PetIQ
Competitive Landscape
The dog joint supplements market is a slightly fragmented market around the world. Investments in the R&D sector as well as collaborations with key players are expected to fetch million-dollar opportunities for emerging market entrants. In addition, collaborating with local end-users to increase direct sales will help advance the manufacturers’ market penetration.
- In September 2022; Texas-based supplement company, Homescape Pets has announced a vibrant new look to its present product and changed its name from “Calming Relief” to “Daily Thrive”.
- In February 2023; Nestle Purina announced a planned acquisition of Red Collar Pet Foods to expand its production capacity and product offering in the pet healthcare and food industry.
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Market Development
Shifting customer preferences toward advanced, innovative, and clean-label products have motivated manufacturers to invest in research and development. Further raising initiatives such as awareness campaigns and advertisements about pet healthcare and essential nutrient content required for standard living by the manufacturer’s end is positively supporting their product sales and strengthening their market position. The aforementioned investment patterns from manufacturers are expected to boost the dog joint supplement market during the forecast period due to ever-changing customer preferences.
The dog supplement industry has benefited from the growing trend among manufacturers to invest heavily in a number of areas, such as product and manufacturing method upgrades, with the aim of deploying cutting-edge technologies. Inorganic strategic approaches, such as collaborations, mergers, partnerships, and acquisitions by key players of other top companies/brands operating in the similar product segment, are anticipated to present opportunities for growth.
Segmentation of Dog Joint Supplements Industry Research
- By Life Stage :
- Senior Dogs
- Adult Dogs
- Puppies
- By Form :
- Liquid/Gels/Paste
- Powders
- Tablets
- Soft chewable
- By Sales Channel :
- Online
- E-Commercial Platforms
- Company Owned Websites
- Offline
- Modern Trade Stores/Big Box Retailers
- Pet Specialty Stores
- Vet Clinics
- Vet Pharmacy
- Others Retail Stores (Not Covered Above)
- Online
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & ASEAN
- Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global dog joint supplements, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of by life stage (senior dogs, adult dogs, and puppies), by form (liquid/gels/paste, powders, tablets, and soft chewable), by sales channel (offline and online), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & ASEAN, Oceania, and Middle East & Africa).
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