NEW YORK, April 28, 2015 /PRNewswire/ -- Growth in pet supplement sales somewhat lags overall pet product sales growth in the U.S., with a compound annual growth rate (CAGR) of 3.7% between 2010 and 2014 advancing the pet supplement market to $541 million 2014. In response to this ongoing challenge, supplement marketers are introducing new products that mimic the key trends in human supplements in hopes of enticing more pet owners to give supplements to their pets. Key crossover trends include natural and organic supplements, as well as supplements focused on obesity and aging. Joint health-related supplements remain the top category, capturing even more market share as marketers increase awareness of the benefits of using such supplements to maintain the health of older pets. The pet supplement market’s biggest challenge is the much faster sales growth of nutraceutical treatsâ€"functional biscuits and soft chews designed to be more enjoyable and palatable than traditional pills or tablets while still providing health benefits. Supplement marketers are combating this trend by introducing more alternative format products of their own, with numerous new liquid and powder supplements as well as gels and pastes.
With a primary focus on products for dogs and cats, but also extending to other types of small companion animals, the 5th edition of Packaged Facts’ definitive Pet Supplements in the U.S. report examines the pet supplement market from every angle. The report includes a historical (2009â€"2014) and forecasted (2015â€"2019) retail sales analysis, as well as a breakdown of the market by supplement type and retail channel. Featuring exclusive Packaged Facts pet owner survey data, the report also discusses key trends affecting the marketplace, trends driving growth, consumer demographics, and provides profiles of major pet supplement marketers.
Report Methodology
The information in Pet Supplements in the U.S., 5th Edition is based on primary and secondary research. Primary research entailed interviews with companies, distributors, and retailers to obtain information on new product and packaging trends, marketing programs, distribution methods, and technological breakthroughs. Secondary research entailed data gathering from relevant sources, including consumer and industry publications, newspapers, government reports, company literature, and corporate annual reports. Sales of packaged products are based on available sales data from publicly traded marketers of pet supplements, estimates reported in the trade and consumer press, industry experts, and participating manufacturers and retail outlets. Consumer findings are derived from Packaged Facts’ proprietary survey conducted in January 2015 expressly for this report, which provides current data on consumers’ purchasing habits, preferences, and perspectives.
What You’ll Get in This Report
Pet Supplements in the U.S., 5th Edition makes important predictions and recommendations regarding the future of this market, and pinpoints ways current and prospective players can capitalize on current trends and spearhead new ones. No other market research report provides both the comprehensive analysis and extensive data Pet Supplements in the U.S., 5th Edition offers. Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables, and graphs.
How You’ll Benefit from This Report
If your company is already doing business in the pet supplement market, or is considering making the leap, you will find this report invaluable, as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current market for pet supplements in the U.S., as well as projected markets and trends through 2019.
This report will help:
Marketing managers identify market opportunities and develop targeted promotion plans for pet supplements.
Research and development professionals stay on top of competitor initiatives and explore demand for pet supplements.
Advertising agencies working with clients in the retail industries understand the product buyer to develop messages and images that compel consumers to buy supplements for their pets.
Business development executives understand the dynamics of the market and identify possible partnerships.
Information and research center librarians provide market researchers, brand and product managers, and other colleagues with the vital information they need to do their jobs more effectively.
Read the full report: http://www.reportlinker.com/p02861351-summary/view-report.html
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