Global Pet Supplements Market To Be Driven By Rising Pet Adoption Over The Forecast Period 2021-2026 – LSMedia
New Market Research Expert Report titled “Global Pet Supplement Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026” Gives In-Depth Analysis of the Global Market pet supplements market, evaluating the market on the basis of its segments such as pet, type, source, distribution channel and major regions. The report follows the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators while analyzing the market based on Porter’s SWOT and Five Forces models.
Note 1: For an overview of primary and secondary market data (2016-2026), along with business strategies and detailed market segmentation, please click on the sample demand report. The sample report will be delivered to you within 24 hours.
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The main highlights of the report include:
Market Overview (2016-2026)
• Historical market size (2020): 497 million USD
• Forecast CAGR (2021-2026): 7.5%
• Forecasted market size (2026): $ 767 million
The industry is primarily driven by increased spending on pet care and an increase in the adoption of pets around the world. Pet owners are willing to spend a lot of money to protect the health of their pets which has resulted in increased pet health spending. The growing trend towards the humanization of pets is driving the pet supplement market. Many pet owners prefer high quality, premium quality supplies for their pets. Additionally, because people felt lonely due to social distancing and during lockdowns, lockdowns induced by COVID-19 boosted pet adoption even more. Organic pet supplements are gaining popularity among pet owners due to the associated benefits such as aiding faster healing, a high nutritional profile, and the absence of negative effects. Pet owners are expected to spend more money on expensive pet care products, such as organic pet foods and supplements, as their spending on pet care increases. animals are increasing and their concern for animal welfare increases.
Definition of the industry and main segments
Pet supplements are prepared foods derived from plant and animal raw materials that contain concentrated amounts of nutrients to compensate for deficits in vitamins, proteins and minerals. It contains important nutrients that keep pets such as dogs, cats, freshwater fish, reptiles, horses, and birds healthy.
Read the full report with table of contents – https://www.expertmarketresearch.com/reports/pet-supplement-market
The market can be broadly categorized on the basis of pets:
• Freshwater fish
The main types of pet supplements are:
• Skin and coat
• Hip and joint
• Prebiotics and probiotics
On the basis of Source, the market is segmented into:
By distribution channel, the market is categorized into:
• In line
Based on region, the industry is divided into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Natural and organic vitamins for pets are increasingly popular. Pet supplements also include herbs and superfoods, which will help the market grow. Growing approvals of veterinary supplements for the preservation of the general welfare of pets are also boosting the pet supplement industry. The growing consumer awareness of pet supplements and the growing preference for organic pet food is also increasing the growth of the pet supplement industry. As pets are increasingly viewed as part of the family, pet owners are ready to increase their annual spending on pet dietary supplements. Leading market players are continually adding new methods or technologies to improve their production and quality of pet supplements, resulting in more effective, tasty, longer lasting solutions that treat a variety of health issues for your pet. pets.
Key market players
The main players in the market are Ark Naturals Company, Nutramax Laboratories, Inc., Kemin Industries, Inc., Nestlé SA and Virbac, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are continuously monitoring the impact of this rapidly evolving situation on markets and consumer buying behaviors. Thus, our latest estimates and analyzes on current market trends and forecasts will comprehensively reflect the effects of this emerging pandemic.
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