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Pet Supplement Market

The pet supplement market size was valued at $596.8 million in 2019, and is estimated to reach $822.6 million by 2027, registering a CAGR of 7.3% from 2021 to 2027.

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Pet Supplement Market

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  2. The pet supplement market size was valued at $596.8 million in 2019, and is estimated to reach $822.6 million by 2027, registering a CAGR of 7.3% from 2021 to 2027. Pet supplement refers to processed food made of plant and animal raw materials with concentrated sources of nutrients to compensate for vitamin, protein, or mineral deficiencies. It provides essential nutrients, which help to improve the health of pets, including dogs, cats, freshwater fishes, reptiles, horses, and birds. Increase in adoption of animals for petting and rise in concerns about animal welfare are expected to augment the growth of the pet supplement market size during the forecast period. Furthermore, the trend of petting reptiles such as owing benefits such as anole, bearded dragon, leopard gecko, tortoise, and turtle has increased considerably, owing to their benefits such as they do not shed fur, require low maintenance, and do not need training. In addition, increase in consumer awareness regarding pet supplements and rise in adoption for organic pet food boost the growth of the market. Pet Supplement Market Download Report Sample

  3. Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/6887 Frontrunners in the industry- ZOETIS INC, FOOD SCIENCE CORPORATION, NUTRAMAX LABORATORIES, INC, BAYER AG, VIRBAC, NOVOTECH NUTRACEUTICALS, INC, NOW HEALTH GROUP, INC, NESTLE S.A, ARK NATURALS COMPANY, KEMIN INDUSTRIES Pet Supplement Market Download Report Sample

  4. Pet Supplement Market • The Pet Supplement Market is segmented on the basis of type, End User, Application, and region. • By type • According to the pet supplement market trends, depending on application, the calming segment was valued at $54.4 million in 2019, and is expected to reach $87.7 million by 2027, with a CAGR of 9.3%. Calming supplements are majorly purchased for pets to reduce stress, anxiety, and fear. Around 50% of dogs are afraid of fireworks and 15% suffer from separation anxiety. Calming supplements for pets depend upon the type of anxiety such as fear-related anxiety and separation-related anxiety. Calming supplements are usually in the form of chews, though tinctures and tablets are also available. Some of these are designed for long-term use, which are suitable for separation anxiety or generalized anxiety. • By Distribution Channel • By distribution channel, the offline segment was valued at $89.8 million in 2019, and is expected to reach $159.7 million by 2027, with a CAGR of 10.6%. The offline segment includes supermarket & hypermarket, small retail stores, pet stores, and vet care pet clinics. Consumers prefer to by pet supplements from pet stores and vet care pet clinics, as these stores provide proper guidance and suggestions along with tips to care for pets. In addition, increase in urbanization and expansion of metro cities are likely to promote the growth of the retail sector, which, in turn, favors flawless distribution of pet supplements. Download Report Sample

  5. By Region • North America dominated the pet supplement market in 2019, and is expected to retain its dominance throughout the forecast period. The key factors driving the growth of the pet supplement market in North America are increase in pet ownership and rise in spending on pet care. Consumers are increasingly spending on pet care for various services such as pet grooming, pet food, pet insurance, and pet veterinary. For instance, the North American Pet Health Insurance Association (NAPHIA) reported that the pet health insurance sector for the U.S. and Canada posted a combined gross written premium of $1.42 billion in 2018, up from $1.15 billion in 2017. • Purchase this Report (Price 5,730 USD for single user license): https://www.alliedmarketresearch.com/checkout-final/69aca77b8f8f277bba182346f42fc9aa • Key findings of the study • The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities. • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network. • In-depth analysis and the market size and segmentation assist to determine the prevailing pet supplement market opportunities. Pet Supplement Market Download Report Sample

  6. North America dominated the pet supplement market in 2019, and is expected to retain its dominance throughout the forecast period. The key factors driving the growth of the pet supplement market in North America are increase in pet ownership and rise in spending on pet care. Consumers are increasingly spending on pet care for various services such as pet grooming, pet food, pet insurance, and pet veterinary. For instance, the North American Pet Health Insurance Association (NAPHIA) reported that the pet health insurance sector for the U.S. and Canada posted a combined gross written premium of $1.42 billion in 2018, up from $1.15 billion in 2017. 2.43 million pet were insured in 2018 and it was up by over 17% from 2017. Increase in benefits of natural and organic pet supplements has been further propelling pet supplement market demand in North America. Do You Have Any Query Or Specific Requirement? Ask to Our Industry Expert : https://www.alliedmarketresearch.com/connect-to-analyst/6887 Pet Supplement Market Download Report Sample

  7. About Allied Market Research: Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting services to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Pet Supplement Market Download Report Sample

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