Veterinary Dietary Supplements Market Analysis

Veterinary Dietary Supplements Market Analysis

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Based on the animal type, the market is categorized as companion animals and livestock animals. The companion animal segment is set to lead the market, accounting for the largest revenue of USD 2.9 billion in 2023, anticipating its dominance throughout the forecast period with a CAGR of 6.7%. The companion animal segment is further categorized into dogs, cats, horses, birds, and other companion animals.
 

• The companion animals segmental prominence was asserted due to the rising trend of pet humanization and increased awareness of pet health among owners.
   
• Pet owners are increasingly investing in supplements to improve their pets' well-being, addressing issues like joint health, digestion, and immune support. For instance, according to the American Pet Products Association (APPA), the U.S. spending on the pet sector has consistently risen, with expenditures increasing by 10.7% from 2021 to 2022, reaching USD 136.8 billion. This spending growth is expected to drive investment in pet food, which in turn boosts the demand for dietary supplements for companion animal healthcare.
   
• In addition, the growing population of aging pets and the desire to prevent health problems further drive demand.
   

Based on product type, the veterinary dietary supplements market is classified into multivitamins & minerals, omega-3 fatty acids, probiotics & prebiotics, proteins & peptides, Cannabidiol (CBD), antioxidants, and other product types. The multivitamins & minerals segment holds the largest market share of 31.1% in 2023 and is expected to maintain dominance throughout the analysis period.
 

• The demand for multivitamins and mineral supplements was attributed to the increasing use of veterinary dietary supplements in both companion and livestock animals to ensure balanced diets and support daily bodily functions.
   
• For instance, a 2019 review article in Advances in Animal and Veterinary Sciences examined the effect of multivitamin and amino acid supplements on Average Daily Gain (ADG) in crossbred Holstein calves. The study found a significant increase in ADG, highlighting an alternative method for managing growth rates in calves with poor growth performance.
   
• Thus, the broad application and high demand for maintaining balanced nutrition contribute to the dominance of this segment in the market.
   

Based on the dosage form, the veterinary dietary supplements market is segmented into pills/ tablets, powders, chewables, liquids, and other dosage form. The chewables segment is projected to reach 35.6% by 2032.
 

• This segment's popularity is largely due to the ease of administration and palatability, especially for companion animals like dogs and cats.
   
• Chewable supplements are often flavored and designed to appeal to animals, making them an attractive choice for pet owners.
   
• Studies have shown that appealing taste, mouthfeel, and smell increase voluntary intake of oral chewables in dogs. The chewables segment is expected to continue rising due to increasing efforts by market players to improve palatability preferences of pets. For instance, in March 2024, CV Sciences, Inc. launched new CBD-infused chews for pets: +PlusCBD Pet Hip and Joint Health Chews and +PlusCBD Pet Calming Care Chews. These products targeted common dog health concerns like joint pain and anxiety. Thus, the product launch aimed to expand the company’s offerings to enhance pet welfare and strengthen their portfolio.
   
• Thus, the growing research, product launches and the accessibility of chewable mark them as the dominant segment in the market.
   

Based on the application, the veterinary dietary supplements market is segmented into joint health support, calming/ stress/ anxiety, digestive health, weight management, immunity support, skin & coat health, and other applications. The joint health support segment dominated the market accounting for the highest revenue in 2023 anticipated to reach 2.5 billion by 2032.
 

• The joint health support segment dominance was attributed to the increasing awareness of joint-related issues in aging pets and athletic animals. These supplements, containing ingredients like glucosamine, chondroitin, and omega-3 fatty acids, are crucial for maintaining mobility and reducing discomfort.
   
• For instance, according to a June 2020 study in the Journal of the American Veterinary Medical Association, joint health supplements like omega-3 fatty acids, green-lipped mussel, glucosamine, and chondroitin sulfate have been associated with improving clinical signs of osteoarthritis in cats and dogs. Therefore, the healthcare benefits of these supplements are driving their adoption, thereby fueling market growth.
   
• In addition, rising pet ownership and demand for preventive healthcare, the joint health support segment addresses a significant market need, driving its dominance and expansion in the veterinary supplements industry.
   

Based on the distribution channel, the veterinary dietary supplements market is segmented into online and offline channel. The offline channels segment dominated the market with the highest share in 2023 anticipating a significant growth during the analysis period with a CAGR of 6.7%.
 

• The offline distribution channel has dominated the market due to its established network of veterinary clinics, pet stores, and retail outlets, providing direct access to consumers.
   
• Pet owners often prefer purchasing dietary supplements through these channels for immediate availability and personalized recommendations from veterinarians or knowledgeable staff.
   
• This offline presence facilitates trust-building and allows consumers to physically inspect products, contributing to its dominance in the market.
   

U.S. dominated the North American veterinary dietary supplements market accounting for USD 1.7 billion in 2023 and is anticipated to show considerable growth over the analysis period.
 

• The U.S. holds a leading position in the North American market driven by high level of pet ownership, a strong culture of pet care, and advanced veterinary healthcare services.
   
• The market benefits from robust research and development activities, leading to innovative supplement formulations tailored to specific animal health needs.
   
• Additionally, a well-established regulatory framework ensures product safety and efficacy, bolstering consumer confidence.
   

Germany exhibited a high growth potential in the European veterinary dietary supplements market.
 

• Germany is a key player in the market in Europe, known for high pet ownership rates, fostering a strong demand for pet health products including supplements.
   
• Germany also boasts advanced veterinary healthcare services and a well-developed regulatory environment that ensures product quality and safety.
   
• Additionally, the growing trend towards natural and holistic pet care solutions, which drives the demand for dietary supplements.
   
• These factors contribute to Germany's leadership in the veterinary supplements sector within Europe.
   

The Asia Pacific veterinary dietary supplements market is poised for rapid growth with a CAGR of 7.3% during the forecast period.
 

• The Asia Pacific market is poised for rapid growth due to increasing pet ownership, rising awareness of animal health, and a shift towards premium pet care products.
   
• The growing awareness among pet owners about preventive healthcare and nutritional supplements for pets fuel the market demand in the region.
   
• Additionally, expanding urbanization and a burgeoning middle class are driving the demand for pet health products. With improving distribution channels and the entry of global players, the Asia Pacific region is set to experience significant expansion in the market.