Rise of Veganism and the Heightening Pet Adoption Trends will Paint a Positive Picture of Growth for the Pet Dietary Supplement Market, Says TMR
- Pet adoption rate is rising rapidly across the globe and this factor will serve as a growth booster for the pet dietary supplement market during the assessment period of 2021-2031
- The pet dietary supplement market expects to expand at a CAGR of ~6 percent across the forecast period of 2021-2031
04 May, 2021, 09:30 ET
ALBANY, N.Y., May 4, 2021 /PRNewswire/ --
Pet Dietary Supplement Market: Growth Summary
Pet ownership statistics have seen a rise over the years on the back of the increasing popularity of pets as stress busters and the escalating awareness about the importance of adopting a pet. The National Pet Owners Survey of 2019-2020 found that nearly 85 mn families in the United States own a pet. These statistics display the rising trend of pet adoption.
Many individuals around the globe who own pets focus extensively on their nutrition to keep them healthy and protected from various diseases and disorders. Dietary supplements play a crucial role in maintaining the health of pets. Thus, based on all these aspects, the pet dietary supplement market will witness a positive growth trajectory during the assessment period of 2021-2031.
Pet dietary supplements are feed supplements used in pet food for improving the nutritional performance of the food products. The supplements provide the essential nutritional required to the pets and also helps in tackling various diseases and disorders. The benefits attached to the pet dietary supplement bode well for the growth.
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The Transparency Market Research (TMR) team, after a thorough and detailed analysis, estimates the pet dietary supplement market to record a CAGR of ~6 percent during the assessment period of 2021-2031. The global pet dietary supplement market is expected to surpass the valuation of US$ 6.9 bn by the end of the assessment period that is 2031.
The heightening awareness about the importance of pet dietary supplements among a large chunk of individuals is expected to bring tremendous growth opportunities. The escalating aging population among pets and the problems associated with aging will serve as a vital growth generator for the pet dietary supplement market. Furthermore, the use of supplements to enhance the exterior aspects of a pet such as its coat maintenance will also bring profitable growth.
Explore 344 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Pet Dietary Supplement Market (Pet: Dog, Cat, Horse, and Others; Supplement: Glucosamine, Omega 3 Fatty Acids, Probiotics & Prebiotics, Multivitamins, Antioxidants, Proteins & Peptides, and Others; Ingredient: Fish, Meat & Animal Derivatives, Dairy Products & Eggs, Vegetables, Cereals & Cereal By-products, and Others; Form: Tablets & Capsules Derivatives, Soft Gels & Gummies, Liquids, Powders, and Others; Application: Skin & Coat, Joint Health, Liver, Gastrointestinal Tract, Kidney Support, Balanced Diet, and Others; and Distribution Channel: Online and Offline) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031 at https://www.transparencymarketresearch.com/pet-dietary-supplements-market.html
Key Findings of the Report
Pet Dietary Supplements Boost the Immunity of the Pets which is Crucial for a Longer Lifespan
The prominent advantage of pet dietary supplements is that it helps in assuring a strong immune system for pets. A good immune system decreases the threat of osteoarthritis, cancers, heart disease, and other disorders in pets. The supplements help in regulating cells and make sure that they eliminate harmful pathogens from the pet's system. This factor also helps pets to age gracefully. All these factors will increase the growth prospects of the pet dietary supplement market substantially.
Analyze global Pet Dietary Supplement 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
Vegan Trend to Penetrate Deep into the Pet Dietary Supplement Market
The trend of veganism is not only popular among humans, but it is garnering immense popularity among pets too. The growing preference of many pet owners toward opting for vegan food for pets is giving rise to a number of plant-based dietary supplements that have the same amount of nutrient composition as animal-based supplements. Thus, cruelty-free and vegan pet dietary supplements will reign supreme across the assessment period.
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CBD-Based Pet Dietary Supplements to Emerge as a Growth Booster
CBD has gained exponential popularity owing to its large number of health benefits in terms of alleviating pain and anxiety among humans. CBD is also gaining ground in the pet dietary supplement industry due to the massive advantages it provides to the pets. They are safe and can help extensively in eliminating anxiety and tackle other problems in pets.
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