Infinium Global Research’s recent report on the “Pet Dietary Supplement Market (By Pet Type (Dog, Cat, Bird, and Other Pet Types), By Supplement (Glucosamine, Omega-3 Fatty Acids, Probiotics & Prebiotics, Multivitamins, Antioxidants, Proteins & Peptides, and Others), By Distribution Channel (Online, and Offline)) Global Industry Analysis, Trends, Size, Share and Forecasts to 2026” provides a comprehensive outline of the factors responsible for the growth of the market. The global pet dietary supplement market is projected to grow up to USD 3.5 Billion by 2026 from USD 2.3 Billion in 2020, growing with a CAGR of 6.4% over 2020-2026.

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Pet Industry is Booming and is Anticipated to Rise Continuously

The pet industry is booming and is anticipated to rise continuously. The humanization of pets is the major reason for the growth of the pet dietary supplements industry. The rising trend among pet owners to treat their pets like members of their family and the increasing demand among pet owners to provide their pets with human-like products are highly contributing to the growth of the pet dietary supplements market. Additionally, the rising adoption of pets in nuclear families has resulted in the large development of the pet care industry.

Yet within the last few years, pet dietary supplements have seen healthier growth and the pandemic-driven boost to pet food sales in 2020. The category has seemingly ridden that wave of development into another wave of enhanced owner-pet interaction during the pandemic. With pet parents spending more time with their pets, consumer behaviors are shifting as well like their desire to add variety to their pet companion’s diets.

The Dog Segment to Remain the Largest Preferred Pet Type for Pet Dietary Supplement Market

On the basis of pet type, the global pet dietary supplements market is segmented into dog, cat, bird, and other pet types. Among pet types, dogs are pack animals and are easily affected by separation anxiety, signs of which include chewing or tearing furniture or other objects, excessive salivation, and inappropriate urination and defecation. Pets like cats and dogs are also easily stressed with activities such as travel, boarding, grooming, and visits to the veterinarian. The dog dietary supplements segment accounted for the largest share in 2019 on the back of the introduction of new supplements in the market.

For example, in 2019, Vetericyn, a key company in pet dietary supplements launched a life-stage dog supplement, called All-In. This supplement includes essential nutrients a dog needs at its particular stage of life that develop digestive, bone, mental, and immune health. Further, in developing countries such as India, dogs are more popular than cats, birds, and horses. Dog dietary supplements will account for a noteworthy market share in the forthcoming years in this country.

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North America to Dominate the Pet Dietary Supplement Market over the Forecast Period

Among the regions, the North America region holds the largest share in the pet dietary supplements market. In the U.S., according to the National Pet Owners A survey conducted by the American Pet Products Association, 68% of U.S. households or about 85 million families own a pet. The factors such as increasing disposable income, and the high spending capacity of the people in North America drives the growth of the North America pet dietary supplements market. Additionally, the presence of several pet stores and major pet care product manufacturers in North America contributes heavily to the growth of the pet care market in this region. Furthermore, companies such as PetSmart and Pet Co stand out in terms of pet care sales in the US.

Companies Operating in the Pet Dietary Supplement Market Focusing on Acquisition and Product Innovation

The global market for pet dietary supplements is highly consolidated and competitive in nature. Key market players of pet dietary supplements such as Virbac Corporation, General Nutrition Centers, Inc., Beaphar BV, and Bayer AG are focusing on research & development activities to attract more customers as well as focusing on the expansion of product portfolio. In 2020, Makers Nutrition, a US-based company focused on offering innovative supplements for pets with value-added services by enhancing the overall product quality and attractive packaging design. Makers Nutrition is also promoting itself as a major player in the industry by offering a broad range of pet dietary supplements. Other market players are VetriScience Laboratories, Ark Naturals, Nestle Purina PetCare, NOW Food, Kemin Industries, Zoetis, and Novotech Nutraceuticals.

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