ALBANY, New York, Feb. 20, 2020 /PRNewswire/ -- Owing to factors such as increase in incidence of diseases in horses, growing enthusiasm towards preventive care for economic reasons, and a surge in demand for supplements for amino acid/protein, the global Equine Supplement Products Market is set to chart a sturdy curve over the forecast period of 2019 to 2027.
Transparency Market Research reveals that "Over the stated assessment period, as demonstrated by an extensive market research, the global equine supplement products market would grow at 3.5% CAGR. And, much of this growth would be a result of growing awareness about equine osteoarthritis among owners."
Key Findings of the Equine Supplement Products Market Study
- Electrolyte/minerals division of the segment based on supplements to contribute immensely to the overall growth of global equine supplement products market owing to increase in awareness regarding mineral deficiency in horses and easy availability of electrolyte supplements
- In 2018, the joint disorder prevention accounted for the largest share in the market and the growth trend will persist over the forecast period – a result of increase in awareness among owners regarding lameness caused by osteoarthritis
- Veterinary hospital pharmacies to dominate the segment for distribution channel as preference for treatment of horses in hospitals increases and availability of supplements in these pharmacies remains robust
Explore 187 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Equine Supplement Products market by Supplement - Proteins/Amino Acids, Vitamins, Enzymes, Electrolytes/Minerals; Application - Performance Enhancement/Recovery, Joint Disorder Prevention; Distribution Channel - Veterinary Hospital Pharmacies, Retail Pharmacies
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Equine Supplement Products Market: Key Driving Factors
Two very significant factors of growth in the global equine supplement products market, as stated by Transparency Market Research, are growth of equine health industry and growing adoption of preventive equine health measures. A brief view is provided below:
- Cases of joint and upper respiratory infections in particular and equines diseases in general are growing significantly, driving demand up for supplements
- Higher focus on performance recovery, and digestive health leading owners and caretakers towards opting for better supplements and more nutritive feeds
- Equine sports, and racing to drive demand for supplements in a major way, creating lucrative growth opportunities for equine supplement products market players
- Growth in preventive care leading to demand for micronutrients, contributing to growth of market
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Key Impediments for Global Equine Supplement Products Market Players
Despite a sturdy growth projection by Transparency Market Research for Global Equine Supplement Products Market, there would be certain factors that would restraint growth from reaching a higher mark. Two prominent ones that have been noted are lack of awareness regarding fake supplements and stringent regulations marking the market landscape.
Global Equine Supplement Products Market: Region-wise Analysis
- In 2018, North America held the largest share of the market, credit presence of some of the most prominent names of manufacturers in the market flanking the regional landscape and growing awareness regarding efficacy and other parameters of supplements for horses; the trend would keep up in the coming few years
- Other regions that demonstrated sturdy growth statistics in the year 2019 is Europe, where Germany and the United Kingdom held noteworthy share of the market owing to increase in equine sports activities; this would help the region grow in the market's assessment period as well
- Asia Pacific region to chart a significant CAGR owing to growth in horse clubs, particularly in China; Latin America to be spurred by demand for companion animal ownership
Analyze Global Equine Supplement Products market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
The vendor landscape of global equine supplement products market is witnessing prominent players actively trying to carve off a larger market share for themselves over the coming few years. And, in pursuit of that goal, they are focusing on expanding product portfolios, like Hagyard Pharmacy did with the launch of REVYVE in the year 2018. Some are also looking to forge alliances that might prove strategic and constructive in paving the way to future growth like Pyranha did in the year 2017 with the acquisition of Adeptus Nutrition.
As per market study conducted by Transparency Market Research, the global equine supplement products market is a vendor landscape marked by quite a few prominent players. Some of the most prominent ones that occupy the landscape and are profiled by the market research company are Zoetis, Boehringer Ingelheim International GmbH, Bayer AG, Equine Products UK LTD, Purina Animal Nutrition LLC., Vetoquinol S.A., Kentucky Equine Research, Plusvital Limited, Lallemand, Inc., and Virbac.
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Transparency Market Research has segmented the Equine Supplement Products market report based on supplement, application, distribution channel, and region.
- Proteins/Amino Acids
- Performance Enhancement/Recovery
- Joint Disorder Prevention
- Veterinary Hospital Pharmacies
- Retail Pharmacies
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:
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Veterinary Supplements Market - Chronic diseases are long-term clinical conditions that progress over the time. It is considered an expensive and most prevalent health care issue across the globe. Chronic disease management programs, thus, is an organized and proactive set of interventions that focuses on needs of the patient population.
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