How Has the Pet Herbal Supplements Market Evolved Historically and What is its Current Size?
The pet herbal supplements market has seen considerable growth due to a variety of factors.
• The pet herbal supplements market has seen significant growth in recent years. It is projected to rise from $1.12 billion in 2024 to $1.27 billion in 2025, with a compound annual growth rate (CAGR) of 14.0%.
This expansion is due to heightened awareness of pet health, the humanization of pets, veterinary recommendations, regulatory backing, and consumer preferences for natural products.
What Does Future Hold for The Pet Herbal Supplements Market By 2029?
The pet herbal supplements market is expected to maintain its strong growth trajectory in upcoming years.
• The pet herbal supplements market is projected to see rapid growth, reaching $2.12 billion by 2029, growing at a CAGR of 13.7%.
This growth is attributed to increasing pet ownership, an aging pet population, the expansion of e-commerce, personalized nutrition, and a focus on sustainability. Trends expected during this period include improved extraction methods, applications of nanotechnology, AI-driven formulation optimization, personalized supplements, and digital health monitoring.
What Are The Primary Growth Drivers In The Pet Herbal Supplements Market?
The growth of the pet herbal supplements market is anticipated to be fueled by the escalating pet spending. This spending includes the costs associated with pet food, supplies and medicines, veterinarian services, live animal acquisitions, among other services. The surge in pet spending is attributed to the humanization of pets, triggering an increase in investment on high-end products and services, coupled with advancements in pet healthcare which necessitate pricier treatments. This surge is spurring on the pet herbal supplements market as pet owners are progressively turning to natural, premium health products to ensure their pets' longevity and wellness. As an example, a report by American Pet Products Association, Inc., a non-profit industry association based in the U.S., highlighted that the pet industry spending in the U.S. in November 2023 was $147.0 billion, a rise from the $136.8 billion in 2022. Thus, the burgeoning pet spending is the key driver for the expansion of the pet herbal supplements market.
What Is The Segmentation Of The Global Pet Herbal Supplements Market?
The pet herbal supplements market covered in this report is segmented –
1) By Product: Omega 3 Fatty Acids, Probiotics And Prebiotics, Multivitamins And Minerals, Cannabidiol Oil (CBD), Proteins And Peptides, Other Products
2) By Dosage Form: Tablets And Capsules, Gummies And Chewable, Powders, Liquids, Other Dosage Forms
3) By Animal Type: Dogs, Cats, Horses, Other Animals
4) By Application: Digestive Support, Immunity Support, Skin And Coat, Calming Or Stress Or Anxiety, Joint Health Support, Kidney Health, Liver Health, Respiratory Health, Other Applications
5) By Distribution Channel: Online, Offline
Subsegments:
1) By Omega 3 Fatty Acids: Fish Oil Supplements, Algal Oil Supplements
2) By Probiotics And Prebiotics: Digestive Health Supplements, Gut Health Probiotic Powders
3) By Multivitamins And Minerals: Daily Multivitamins, Mineral Supplements For Pet Health
4) By Cannabidiol Oil (CBD): CBD Oil For Anxiety And Pain Relief, CBD Treats And Chews
5) By Proteins And Peptides: Protein Powders, Amino Acid Supplements
6) By Other Products: Herbal Extracts, Antioxidant Supplements, Joint Health Supplements
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How Are New Trends Impacting The Size Of The Pet Herbal Supplements Market?
Leading pet herbal supplement market firms such as Badlands Ranch are shifting their focus towards the creation of innovative items like canine supplements. These are either prescribed or over-the-counter products that supply dogs with extra vitamins, minerals, enzymes, amino acids, and herbs to tackle issues related to skin, joints, and overall health. For example, in July 2023, Badlands Ranch, a reputable pet nutrition brand based in the US, introduced Super20, a unique superfood powder for dogs aimed at improving their comprehensive health. Comprised of natural ingredients like mushrooms, milk thistle, and ashwagandha, this product serves to boost energy, mobility, coat condition, mood, and digestion. It also effectively deals with common issues like joint stiffness, gut health, stress regulation, and immune support, offering a simple solution to augment beloved pets' quality of life.
Who Are the Key Players In The Pet Herbal Supplements Market?
Major companies operating in the pet herbal supplements market are:
• Merck & Co. Inc.
• C.H. Boehringer Sohn AG & Co. KG
• Zoetis Inc.
• Elanco Animal Health Incorporated
• Virbac
• Dechra Pharmaceuticals plc
• Vetoquinol
• Nutramax Laboratories
• Nulo Pet Food
• Ceva Animal Health
• Healthy Paws Herbal Labs
• Zesty Paws
• PetHonesty
• Only Natural Pet
• Petlab Co.
• Honest Paws
• Vet's Best Friend
• Ark Naturals
• Herbsmith
• NaturVet
• Vital Pet Life
• Paw Naturals
What Are The Regional Insights Into The Pet Herbal Supplements Market?
North America was the largest region in the pet herbal supplements market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pet herbal supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
