Pet Supplements Market Size, Share & Trends Analysis Report By Type (Over-the-counter (OTC), Prescription), By Pet Type (Dogs, Cats), By Form, By Application, By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Pet Supplements Market Size, Share & Trends Analysis Report By Type (Over-the-counter (OTC), Prescription), By Pet Type (Dogs, Cats), By Form, By Application, By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Pet Supplements Market Growth & Trends

The global pet supplements market size is expected to reach USD 3.73 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 5.9% from 2024 to 2030. Increasing adoption of pets globally is driving the demand for pet supplements. For instance, according to the U.S. Pet Food Industry’s pet ownership study, pet ownership rose from 67.0% of households in 2018 to an all-time high of 70% in 2020, as confirmed by the American Pet Product Association (APPA). These statistics foretell high market growth over the forecast period.

In addition, pet ownership is a common practice in various countries across the globe. For instance, according to the National Pet Owners Survey 2021-2022, 90.5 million U.S. families own a pet. With such pet ownership patterns in various countries, people are spending on pet supplements owing to their various health benefits. These supplements enhance concentration, focus, and energy levels in pets, strengthen their immune system, and improve heart health.

Based on the type, the over-the-counter (OTC) segment dominated the market and is anticipated to show similar trends during the forecast period. Numerous over-the-counter pet supplements are available which either support a particular aspect of a pet's health or provide specific nutrients. Moreover, these supplements are popular and readily & easily available at a relatively affordable price. Additionally, a wide range of pet supplements is available through various distribution channels, including online retailers, supermarkets & hypermarkets, and pet stores,.

Based on the pet type, the dogs segment held the largest revenue share in 2023 and is expected to maintain its dominance over the forecast period. Dogs are officially a man’s best friend, with more than half the world owning a dog as a pet. Increasing health concerns and overcoming pets’ health issues have allowed consumers to opt for pet supplements with complete nutritious food like vitamins and minerals. For instance, according to a study conducted by non-profit organization Kinship Partners, in February 2021, nearly 77% of pet owners in the U.S. were concerned about their pets’ health, which has substantially fueled the market growth.

Based on the form, the pills/tablets segment is projected to witness a significant growth of 6.2% during the forecast period from 2024 - 2030. Pills/tablets offer a timed release of medication, which is helpful for pets with finicky stomachs. They are also easy to carry anywhere and convenient. Such factors drive the market growth for pet supplements in pill/tablet form. Product manufacturers offer these pills/tablets in several flavors and distinctive odors, making it easier for pets to consume them, driving the segment growth.

Based on the application, digestive health segment is predicted to grow at a considerable rate of 6.6% during the forecast period. A major health problem for dogs and cats is improper digestive system function. Often, pets fall sick due to various allergies, sudden changes in the diet, or infections; hence, customers are increasingly investing in supplements. In general, supplements improving digestive health are adopted by pet owners globally. For instance, in February 2021, the Boss Dog brand launched new raw frozen meal products for dogs, which include digestive supplements and health solutions for pets.

Based on the distribution channel, the offline segment dominated the market and held the largest revenue share in 2023. Increasing consumer interest in pet nutrition and diets encourages offline retailers to stock their shelves with high-quality supplements from high-end brands. Pet owners are much more aware of the ingredients in their pet supplements, so retailers are responding to the same. For instance, Kroger has a pet department and sells a range of supplements concerning health issues such as anxiety, eye care, and hip and joint health.

Pet Supplements Market Report Highlights

• The prescription segment is expected to register the fastest growth during the forecast period, as they are safe, effective, and backed by clinical trials and scientific research, resulting in increased adoption and market growth
• The cat segment is projected to register the fastest growth over the forecast period, with a rise in the adoption of these animals as pets and the availability of cat wellness and care products globally
• The powder segment is anticipated to register the fastest growth during the forecast period, owing to its quick and easy absorption properties among pet animals
• The skin and coat segment is projected to register the fastest growth during the forecast period from 2024 to 2030 due to increasing skin-related problems leading to loss of body hairs among these animals
• The online channel is anticipated to register the fastest growth during the forecast years owing to promising growth exhibited by e-commerce platforms, including Amazon, Walmart, Alibaba, and other service providers
• Asia Pacific is expected to register the fastest growth during the forecast period. The growing trend of pet humanization, coupled with the rising awareness of pet dietary supplements formulated to enhance their immune systems and drive the market growth

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