Meticulous Research®, a global authority in market intelligence, has published a new report titled “Pet Supplements Market—Global Opportunity Analysis and Industry Forecast (2024–2031).” According to the latest insights, the pet supplements market is set to achieve a valuation of $4.68 billion by 2031, marking a CAGR of 7.5% over the forecast period.

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Market Dynamics and Growth Drivers

The surge in pet ownership, a rising focus on pet health, and the trend of “pet humanization” are key factors fueling the pet supplements market. Additionally, the increasing consumer demand for organic and natural pet supplements, as well as expanding markets in Asia-Pacific and Latin America, present considerable opportunities for industry players. The market is further supported by trends like growing demand for customized pet products and the rapid expansion of e-commerce channels, which are transforming the retail landscape for pet health products.

Competitive Landscape

The pet supplements market is moderately competitive, featuring a mix of global, regional, and local players. Major market participants include:

Mars Inc. (U.S.)
Bayer AG (Germany)
Blue Buffalo Company, Ltd (U.S.)
FoodScience, LLC (U.S.)
Four Paws Inc. (U.S.)
Nestlé Purina PetCare Company (U.S.)
Nutramax Laboratories, Inc. (U.S.)
Virbac Corporation (U.S.)
The Higgins Group Corp. (U.S.)
Novotech Nutraceuticals, Inc. (U.S.)
Forza10 America (U.S.)
NOW Health Group, Inc. (U.S.)
Kemin Industries, Inc. (U.S.)
Zoetis Services LLC (U.S.)
Market Segmentation Highlights

The report categorizes the pet supplements market by type, form, source, pet type, function, and distribution channel, offering a comprehensive competitive analysis and country-specific insights.

By Type: The multivitamins segment is poised to dominate in 2024, driven by increased consumer interest in preventive health measures for pets. The demand for multivitamins reflects pet owners’ efforts to support overall wellness and address nutritional deficiencies in aging pets.
By Form: Chewable supplements are projected to lead the market, as pet owners increasingly prefer easy-to-administer, palatable products.
By Pet Type: The dog segment is anticipated to hold the largest share due to a rising number of dog adoptions, a growing demand for premium dog supplements, and heightened awareness around canine health.
By Function: Hip & joint supplements are expected to lead this category, fueled by the aging pet population and the prevalence of joint issues in dogs. Ingredients like glucosamine, chondroitin, and omega fatty acids are widely recognized for their effectiveness in promoting joint health.
By Distribution Channel: Offline channels will continue to hold a significant share, attributed to consumer preference for the convenience of in-store shopping.
Geographic Insights

The report provides an in-depth regional analysis across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is forecasted to hold the dominant market share. The robust demand in this region can be attributed to factors such as high pet ownership, increased spending on pet health, and growing interest in premium and customized pet supplements. Within North America, the U.S. leads, with over 86.9 million households owning a pet, according to the American Pet Products Association.

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