The global Veterinary Dietary Supplements market size is expected to be worth around US$ 8.3 billion by 2030, according to a new report by Vision Research Reports.
The global Veterinary Dietary Supplements market size was valued at US$ 2.6 billion in 2020 and is anticipated to grow at a CAGR of 12.2% during forecast period 2021 to 2030.
The key factors fueling the market growth include increasing population of companion and livestock animals, pet health concerns, prevalence of chronic disorders, and use of e-commerce channels.
Joint health and skin and coat health supplements have been the most purchased veterinary supplements. COVID-19 pandemic, however, disrupted trends in market with a surge in demand for digestive health and immunity-boosting supplements. The COVID-19 outbreak accelerated awareness among pet owners of condition-specific supplements with stress-reducing, immune-supporting, and calming outcomes. The pandemic also catalyzed the steady transition from brick-and-mortar purchases to e-commerce channels. The dramatic shift to online purchasing is expected to continue over the forecast period.
According to a 2021 study published in the U.S. National Library of Medicine, about 10 to 33% of cats and dogs are given in the U.S. Amongst these, joint and digestive health supplements have been the most popular along with cognition, skin and coat, and cardiovascular health supplements. The average lifespan of pets has also increased over the past few decades which makes them susceptible to chronic conditions such as joints disorders, liver problems, and cardiovascular diseases. According to a review article published in the Journal of Feline Medicine and Surgery, aged pets including cats older than 11 years comprise a significant proportion of the companion animal veterinarian’s patient population. These factors are estimated to contribute to the market growth in the coming years.
The companion animals segment dominated the market and held the largest revenue share of over 65.0% in 2020. This can be attributed to growing initiatives by market players, pet population, and humanization. The segment is also expected to witness the highest CAGR of 10.3% from 2021 to 2030. Ark Naturals Company, based in the U.S. specializes in nutraceuticals for companion animals and uses human-grade raw materials to formulate its veterinary dietary supplements.
The livestock animals segment is also expected to grow significantly over the forecast period. Supplements are added to livestock feed to improve the performance or nutrient balance of the total ratio. It can be administered free choice with other parts of the ration if available separately, diluted with other feeds, or further diluted and mixed to produce a complete feed. The need to increase profitability while protecting the health of livestock assets is anticipated to drive the segment.
The joint health support segment dominated the market and accounted for the largest revenue share of 25.0% in 2020. The key factors contributing to the large share include the increasing prevalence of chronic joint disorders in companion as well as livestock animals and awareness about the availability of a variety of joint health supplements that help prevent or slow joint health disorders. As per a June 2020 study published in the Journal of the American Veterinary Medical Association, the use of joint health supplements may help to prevent or slow the progression of osteoarthritis in cats and dogs. Omega-3 Fatty Acids, green-lipped mussel, and glucosamine and chondroitin sulfate are commonly used dietary components associated with improvement in clinical signs of osteoarthritis in companion animals.
The multivitamins and minerals segment dominated the market and accounted for the largest revenue share of 30.5% in 2020. This can be attributed to the rising use of these veterinary dietary supplements in both companions as well as livestock animals to ensure balanced diets and promote daily bodily functions. A review article was published in Advances in Animal and Veterinary Sciences in 2019 on the Effect of multivitamin and amino acid supplements on Average Daily Gain (AVD) in crossbred Holstein calves. The results indicated a significant increase in ADG thus presenting an alternative growth rate management method in calves with poor growth performance.
The gummies and chewables segment dominated the market and accounted for the largest revenue share of 55.3% in 2020. The powders segment is expected to witness the fastest CAGR of 10.6% over the forecast period. This is owing to growing initiatives by market players in the pet food, treats, and supplements market to investigate and improve palatability in animals. Palatability studies are primarily based on the acceptance that is the choice to consume or not consume a particular dosage form and preference between dosage forms.
The offline channel segment dominated the market and accounted for the largest revenue share of 68.9% in 2020. This is owing to a large number of pet owners and livestock farm operators opting for brick-and-mortar purchasing as the channel of choice. However, e-commerce and other online channels had been gaining traction for the past few years. Many offline stores even began offering customers a choice between ordering online and purchasing offline to increase sales.
The COVID-19 pandemic has catalyzed the adoption of online/ e-commerce channels and the segment is expected to register a high CAGR of 19.2% over the forecast period. This is expected to lead to further fragmentation of an already intensely competitive market. In March 2021, for example, Happy Go Healthy launched its line of premium dog supplements- Brilliant Bites onAmazon.com and Walmart.com.
North America dominated the veterinary dietary supplements market and accounted for the largest revenue share of over 39.0% in 2020. The key factors responsible for the large share of the market in the region include the presence of key players and the increasing trend of pet humanization and premiumization of pet products. In October 2018, Nutramax, a leading company that develops products for humans and companion animals including dietary supplements, expanded operations at its Lancaster facility with a USD 20.0 million investment.
Ark Naturals Company
Nutramax Laboratories, Inc.
Nutri-Pet Research, Inc.
Animal Type Outlook
Others (Small Animals, Birds)
Joint Health Support
Calming/ Stress/ Anxiety
Energy and Electrolytes
Skin & Coat Health
Others (Kidney, Urinary Tract, Liver, Cardiovascular, Weight Management)
Omega 3 Fatty Acids
Proteins & Peptides
Multivitamins & Minerals
Probiotics & Prebiotics
Dosage Form Outlook
Tablets & Capsules
Gummies & Chewables
Others (Injectables, Paste)
Distribution Channel Outlook
Pet Specialty Stores
The Veterinary Dietary Supplements market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Veterinary Dietary Supplements market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Veterinary Dietary Supplements market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Veterinary Dietary Supplements market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Veterinary Dietary Supplements market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Veterinary Dietary Supplements capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Veterinary Dietary Supplements by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Veterinary Dietary Supplements market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Veterinary Dietary Supplements market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Veterinary Dietary Supplements market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Veterinary Dietary Supplements industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Veterinary Dietary Supplements market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Veterinary Dietary Supplements market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Veterinary Dietary Supplements market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Veterinary Dietary Supplements market. These factors have benefited the growth of the global market for Veterinary Dietary Supplements. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Veterinary Dietary Supplements. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Veterinary Dietary Supplements are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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