Pet Herbal Supplements Market Size, Share & Trends Analysis Report By Product Type (Omega 3 Fatty Acids, Multivitamins & Minerals), By Application, By Animal Type, By Dosage Form, By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Pet Herbal Supplements Market Size, Share & Trends Analysis Report By Product Type (Omega 3 Fatty Acids, Multivitamins & Minerals), By Application, By Animal Type, By Dosage Form, By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Pet Herbal Supplements Market Growth & Trends

The global pet herbal supplements market size is expected to reach USD 1.79 billion by 2030, registering a CAGR of 10.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The demand for pet herbal supplements has steadily increased in recent years, driven by various factors, including consumer preferences, pet health awareness, increased focus on pet health and wellness, and manufacturers' shift towards natural and herbal supplements for pets' preventive care. With an aging pet population, nutritional supplements are increasingly needed to manage age-related conditions such as arthritis, cognitive decline, and immune system support. Owing to this, herbal supplements are often perceived as a natural way to address these issues.

The rising demand for pet supplements and the expanding pet population worldwide are also anticipated to drive market growth. According to the Pet Food Manufacturers' Association (PFMA), 17.4 million houses, or 62% of the overall population in the UK, are expected to have pets in 2022. Furthermore, 34% of all households had dogs as pets, compared to 28% of all households with cats. There were 12 million cats and 13 million dogs among the 34 million pets in the UK. Moreover, 4.7 million houses, or nearly 17% of all families, have added a new pet since the epidemic started, with about 45% of the owners over 40. The rise in pet ownership indicates the growing affection and concern that people have for their companions, which encourages customers to purchase natural nutritional supplements to maintain the health of their pets and support the market's growth.

The usage of pet supplements to maintain the health of senior pets is necessary due to the growth in pet aging and the adoption of senior pets. For instance, according to a Packaged Facts report published in October 2022, senior pets are owned by 58% of all dog and cat owners in the U.S. This shows a slight shift in pet ownership trends as pets live longer due to better veterinary care. Furthermore, pet owners are developing a greater interest in their pet's health, thus preferring the usage of herbal supplements. Similarly, due to several advantages of herbal supplements for pets, the adoption of pet herbal supplements has increased, which is expected to boost the market growth.

COVID-19 has raised worries about pet obesity and spurred consumer demand for pet products that make weight-related health claims. To support their aging pets, owners have become increasingly interested in herbal supplements that support their pets' skin and coat, immune system, urinary system, heart health, oral hygiene, healthy digestion, mobility, and mental function. In addition, as consumers' search for herbal products becomes more specialized, pets live longer, and the number of seniors owning pets rises, forcing the key players to develop more functional herbal formulations. The key players involved in the market are adopting several strategies to strengthen market position, such as new product launches and expansion of product offerings for several indications.

Pet Herbal Supplements Market Report Highlights

• Manufacturer shifts toward natural and herbal supplements for pet preventive care, rising pet expenditure, growing aging pet population, and the demand for pet supplements are the key drivers of market growth
• Based on product type, the multivitamins & minerals segment dominated the market in 2023. This is due to the growing trend of giving pets herbal dietary supplements to ensure balanced diets and supports regular body functioning. The CBD segment, on the other hand, is projected to witness the fastest growth rate of about 11% in the coming years.
• In terms of application, the digestive support segment dominated the market with a share of over 23% in 2022. The Others (energy and electrolytes, growth promoters, etc.) segment is anticipated to witness the fastest growth of about 15% during the forecast period due to growing research and development of herbal energy supplements for pets
• Based on animal type, the dog segment held the largest market share in 2023 and is expected to witness a lucrative growth rate of more than 10% in the near future. This is a result of the extended product availability for various dog-related indications
• In terms of dosage form, the gummies & chewable segment held the largest market share of over 32.9% in 2023 due to ease of administration and strong product offerings by key players
• In 2023, North America held the highest share of over 32.16% of the market in terms of region. The Asia Pacific region is expected to grow at the fastest rate of over 11% over the forecast period

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