Veterinary Supplements Market Size, Share & Analysis Report, 2022-2030
The global Veterinary Supplements market gathered revenue around USD 8.4 billion in 2021 and market is set to grow USD 13.20 billion by the end of 2030 and is estimated to expand at a modest CAGR of 7.2% during the prediction period 2022 to 2030.
Growth Factors:
A supplement is a product that reinforces nutritional balance. Veterinary supplements are products such as capsules and tablets that cover the deficiency in nutrition in animals. The global veterinary supplements market is driven by increase in disposable income and rise in adoption of pets. The number of pet owners has increased significantly across the world in the past few years. According to a study published by the Humane Society of the United States (2016), around 70% of households own, at least, one pet, and 50% of all households own more than one pet in the U.S. There are around 87 million cats and 80 million dogs in homes across the country, and the number is anticipated to rise in future.
The animal industry has a strong impact on the overall economy of a country. For instance, the equine industry involves breeding, keeping, and overall management of horses, and shows a strong impact on the overall economy. The industry creates income opportunities for several veterinary physicians, equestrians, and others.
Additionally, it creates opportunities for the sale of equine healthcare products. According to the American Horse Council, the equine industry estimated that it directly and indirectly contributed around US$ 39 Bn and US$ 63 Bn, respectively, to the U.S. economy in 2016. Moreover, the equine industry generates nearly US$ 122.1 Bn in revenue per year. Hence, strong economic impact of the equine industry is expected to drive the global veterinary supplements market. However, lack of awareness about nutritional diets for pets and availability of low quality supplements for pets are likely to restrain the global veterinary supplements market during the forecast period.
Report Scope of the Veterinary Supplements Market
|
Report Coverage |
Details |
|
Market Size |
US$ 13.20 Billion by 2030 |
|
Growth Rate |
CAGR of 7.2% from 2021 to 2030 |
|
Largest Market |
North America |
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Fastest Growing Market |
Asia Pacific |
|
Base Year |
2021 |
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Forecast Period |
2022 to 2030 |
|
Segments Covered |
Supplement Type, Application/Benefit Area, Animal Type, |
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Companies Mentioned |
Mars, Incorporated, Nestlé Group, J.M. Smucker, Hill's Pet Nutrition, General Mills Inc., Diamond Pet Foods, Spectrum Brands, Inc., Virbac, Amorevet, Garmon Corp, P.S. Healthcare, and NUTRI-VET. |
Veterinary Supplements Market: Overview
The global veterinary supplements market is driven by rise in awareness among pet owners about avoiding unhealthy pet food products and inclination toward products with prebiotic content. Easy availability of pet dietary supplements in various retail stores is anticipated to drive demand, which, in turn, is expected to boost market growth.
Governments of various countries are implementing various policies for overall improvement of the animal sector. For instance, the Government of Saudi Arabia implemented various policies that support agriculture and encourage private players, resulting in overall improvement of the agricultural sector.
The private sector has played a major role in the country’s animal health development. This is primarily due to the government programs that offer long-term, interest-free loans, technical & support services, and incentives, low-cost water, fuel & electricity, and duty-free imports of raw materials and machinery. Hence, governments supporting policies for veterinary supplements drive the global veterinary supplements market.
Veterinary Supplements Market: Drivers
Increase in incidence of diseases and disorders in animals drives demand for veterinary supplements. For instance, on January 1, 2010, Canada had 13 million cattle suffering from foot-and-mouth disease. The increase in diseases in animals has boosted demand for veterinary supplements.
Rise in the number of veterinarians and increase in veterinary hospitals & clinics boost the demand for veterinary supplements in Canada. According to the Canadian Veterinary Medical Association, there were around 13,000 veterinarians in Canada.
The most common poultry diseases include Newcastle disease virus (NDV), Gumoro, infectious bronchitis (IB), avian influenza (H9N2 subtype), salmonellosis, Coccidiosis, and other bacterial diseases. Hence, increase in incidence of diseases in animals propels the global veterinary supplements market.
Antioxidants to be Preferred Supplement Type
Based on supplement type, the global veterinary supplements market has been categorized into antioxidants, vitamins, proteins/amino acids, enzymes, probiotics, essential fatty acids, and others. The antioxidants segment dominated the global veterinary supplements market in 2020 and the trend is likely to continue during the forecast period. This can be attributed to increase in demand for poultry, changing consumer preferences due to fast-paced lifestyles, and surge in need of natural antioxidants in food products.
Joint Health/Mobility to be Lucrative Application
In terms of application/benefit area, the global veterinary supplements market has been segregated into immunity, skin/coat, joint health/mobility, and others. The joint health/mobility segment dominated the global veterinary supplements market in 2020. A joint supplement is designed to provide strength & support to the bones and cartilage on animal joints. These products are designed to reduce joint pain, inflammation, and swelling, while also supporting mobility and joint strength.
Retail Channels to be Promising Distribution Channel
Based on distribution channel, the global veterinary supplements market has been divided into veterinary hospitals & clinics, retail channels, online channels, and others. The retail channels segment dominated the market in 2020. The segment is expected to expand at the highest CAGR from 2021 to 2031. Companies focus on increasing product awareness among retailers and customers with the help of multi-colored and layered QR codes and point-of-sale information. These QR codes offer deep knowledge about the ingredients and suitability of the product. Hence, easy availability and detailed information about the products fuel the growth of the retail channels segment.
North America to Lead Veterinary Supplements Market
The global veterinary supplements market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2020, followed by Europe. North America accounted for a major share of the global veterinary supplements market in 2020, owing to significant adoption rate of pets per household, rise in interest in pet care, and high animal healthcare expenditure.
The veterinary supplements market in Europe is anticipated to expand at a higher CAGR from 2022 to 2030, owing to rise in pet adoption by households and significant animal healthcare expenditure in Western Europe.
Some of the prominent players in the Veterinary Supplements Market include: Mars, Incorporated, Nestlé Group, J.M. Smucker, Hill's Pet Nutrition, General Mills Inc., Diamond Pet Foods, Spectrum Brands, Inc., Virbac, Amorevet, Garmon Corp, P.S. Healthcare, and NUTRI-VET. Leading companies focus on creating a social impact by offering a selection of cat and dog food items to help animals stay healthy. For instance, Vetoquinol S.A. started the "Green packaging" project in December 2020. This project was part of the company's long-term development strategy, and it aims to improve the veterinary laboratory's palettization plans.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
Global Veterinary Supplements Market: Segmentation
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Points Covered in Veterinary Supplements Market Study:
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Veterinary Supplements Market
4. Market Overview
4.1. Introduction
4.1.1. Animal Type Definition
4.1.2. Industry Evolution / Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Veterinary Supplements Market Analysis and Forecast, 2017–2030
5. Key Insights
5.1. List of Ingredients/Actives, by Benefit Area
5.2. Regulatory Scenario, by Region
5.3. Key Industry Events (mergers, acquisitions, partnerships, collaborations, etc.)
5.4. Pet Ownership Data, by Region
5.5. COVID-19 Pandemic Impact on Industry (value chain and short / mid / long term impact)
6. Global Veterinary Supplements Market Analysis and Forecast, by Animal Type
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Market Value Forecast, by Animal Type, 2017–2030
6.3.1. Companion Animals
6.3.1.1. Canine
6.3.1.2. Feline
6.3.2. Livestock
6.3.2.1. Cattle
6.3.2.2. Equine
6.3.2.3. Sheep
6.3.3. Others
6.4. Market Attractiveness Analysis, by Animal Type
7. Global Veterinary Supplements Market Analysis and Forecast, by Supplement Type
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Market Value Forecast, by Supplement Type, 2017–2030
7.3.1. Antioxidants
7.3.2. Vitamins
7.3.3. Proteins/Amino Acids
7.3.4. Enzymes
7.3.5. Probiotics
7.3.6. Essential Fatty Acids
7.3.7. Others
7.4. Market Attractiveness Analysis, by Supplement Type
8. Global Veterinary Supplements Market Analysis and Forecast, by Application/Benefit Area
8.1. Introduction & Definition
8.2. Key Findings / Developments
8.3. Market Value Forecast, by Application/Benefit Area, 2017–2030
8.3.1. Immunity
8.3.2. Skin/Coat
8.3.3. Joint Health/Mobility
8.3.4. Others
8.4. Market Attractiveness Analysis, by Application/Benefit Area
9. Global Veterinary Supplements Market Analysis and Forecast, by Distribution Channel
9.1. Introduction & Definition
9.2. Key Findings / Developments
9.3. Market Value Forecast, by Distribution Channel, 2017–2030
9.3.1. Veterinary Hospitals & Clinics
9.3.2. Retail Channels
9.3.3. Online Channels
9.3.4. Others
9.4. Market Attractiveness Analysis, by Distribution Channel
10. Global Veterinary Supplements Market Analysis and Forecast, by Region
10.1. Key Findings
10.2. Market Value Forecast, by Region
10.2.1. North America
10.2.2. Europe
10.2.3. Asia Pacific
10.2.4. Latin America
10.2.5. Middle East & Africa
10.3. Market Attractiveness Analysis, by Region
11. North America Veterinary Supplements Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. Market Value Forecast, by Animal Type, 2017–2030
11.2.1. Companion Animals
11.2.1.1. Canine
11.2.1.2. Feline
11.2.2. Livestock
11.2.2.1. Cattle
11.2.2.2. Equine
11.2.2.3. Sheep
11.2.3. Others
11.3. Market Value Forecast, by Supplement Type, 2017–2030
11.3.1. Antioxidants
11.3.2. Vitamins
11.3.3. Proteins/Amino Acids
11.3.4. Enzymes
11.3.5. Probiotics
11.3.6. Essential Fatty Acids
11.3.7. Others
11.4. Market Value Forecast, by Application/Benefit Area, 2017–2030
11.4.1. Immunity
11.4.2. Skin/Coat
11.4.3. Joint Health/Mobility
11.4.4. Others
11.5. Market Value Forecast, by Distribution Channel, 2017–2030
11.5.1. Veterinary Hospitals & Clinics
11.5.2. Retail Channels
11.5.3. Online Channels
11.5.4. Others
11.6. Market Value Forecast, by Country, 2017–2030
11.6.1. U.S.
11.6.2. Canada
11.7. Market Attractiveness Analysis
11.7.1. By Animal Type
11.7.2. By Supplement Type
11.7.3. By Application/Benefit Area
11.7.4. By Distribution Channel
11.7.5. By Country
12. Europe Veterinary Supplements Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Market Value Forecast, by Animal Type, 2017–2030
12.2.1. Companion Animals
12.2.1.1. Canine
12.2.1.2. Feline
12.2.2. Livestock
12.2.2.1. Cattle
12.2.2.2. Equine
12.2.2.3. Sheep
12.2.3. Others
12.3. Market Value Forecast, by Supplement Type, 2017–2030
12.3.1. Antioxidants
12.3.2. Vitamins
12.3.3. Proteins/Amino Acids
12.3.4. Enzymes
12.3.5. Probiotics
12.3.6. Essential Fatty Acids
12.3.7. Others
12.4. Market Value Forecast, by Application/Benefit Area, 2017–2030
12.4.1. Immunity
12.4.2. Skin/Coat
12.4.3. Joint Health/Mobility
12.4.4. Others
12.5. Market Value Forecast, by Distribution Channel, 2017–2030
12.5.1. Veterinary Hospitals & Clinics
12.5.2. Retail Channels
12.5.3. Online Channels
12.5.4. Others
12.6. Market Value Forecast, by Country/Sub-region, 2017–2030
12.6.1. Germany
12.6.2. U.K.
12.6.3. France
12.6.4. Spain
12.6.5. Italy
12.6.6. Rest of Europe
12.7. Market Attractiveness Analysis
12.7.1. By Animal Type
12.7.2. By Supplement Type
12.7.3. By Application/Benefit Area
12.7.4. By Distribution Channel
12.7.5. By Country/Sub-region
13. Asia Pacific Veterinary Supplements Market Analysis and Forecast
13.1. Introduction
13.1.1. Key Findings
13.2. Market Value Forecast, by Animal Type, 2017–2030
13.2.1. Companion Animals
13.2.1.1. Canine
13.2.1.2. Feline
13.2.2. Livestock
13.2.2.1. Cattle
13.2.2.2. Equine
13.2.2.3. Sheep
13.2.3. Others
13.3. Market Value Forecast, by Supplement Type, 2017–2030
13.3.1. Antioxidants
13.3.2. Vitamins
13.3.3. Proteins/Amino Acids
13.3.4. Enzymes
13.3.5. Probiotics
13.3.6. Essential Fatty Acids
13.3.7. Others
13.4. Market Value Forecast, by Application/Benefit Area, 2017–2030
13.4.1. Immunity
13.4.2. Skin/Coat
13.4.3. Joint Health/Mobility
13.4.4. Others
13.5. Market Value Forecast, by Distribution Channel, 2017–2030
13.5.1. Veterinary Hospitals & Clinics
13.5.2. Retail Channels
13.5.3. Online Channels
13.5.4. Others
13.6. Market Value Forecast, by Country/Sub-region, 2017–2030
13.6.1. China
13.6.2. Japan
13.6.3. India
13.6.4. Australia & New Zealand
13.6.5. Rest of Asia Pacific
13.7. Market Attractiveness Analysis
13.7.1. By Animal Type
13.7.2. By Supplement Type
13.7.3. By Application/Benefit Area
13.7.4. By Distribution Channel
13.7.5. By Country/Sub-region
14. Latin America Veterinary Supplements Market Analysis and Forecast
14.1. Introduction
14.1.1. Key Findings
14.2. Market Value Forecast, by Animal Type, 2017–2030
14.2.1. Companion Animals
14.2.1.1. Canine
14.2.1.2. Feline
14.2.2. Livestock
14.2.2.1. Cattle
14.2.2.2. Equine
14.2.2.3. Sheep
14.2.3. Others
14.3. Market Value Forecast, by Supplement Type, 2017–2030
14.3.1. Antioxidants
14.3.2. Vitamins
14.3.3. Proteins/Amino Acids
14.3.4. Enzymes
14.3.5. Probiotics
14.3.6. Essential Fatty Acids
14.3.7. Others
14.4. Market Value Forecast, by Application/Benefit Area, 2017–2030
14.4.1. Immunity
14.4.2. Skin/Coat
14.4.3. Joint Health/Mobility
14.4.4. Others
14.5. Market Value Forecast, by Distribution Channel, 2017–2030
14.5.1. Veterinary Hospitals & Clinics
14.5.2. Retail Channels
14.5.3. Online Channels
14.5.4. Others
14.6. Market Value Forecast, by Country/Sub-region, 2017–2030
14.6.1. Brazil
14.6.2. Mexico
14.6.3. Rest of Latin America
14.7. Market Attractiveness Analysis
14.7.1. By Animal Type
14.7.2. By Supplement Type
14.7.3. By Application/Benefit Area
14.7.4. By Distribution Channel
14.7.5. By Country/Sub-region
15. Middle East & Africa Veterinary Supplements Market Analysis and Forecast
15.1. Introduction
15.1.1. Key Findings
15.2. Market Value Forecast, by Animal Type, 2017–2030
15.2.1. Companion Animals
15.2.1.1. Canine
15.2.1.2. Feline
15.2.2. Livestock
15.2.2.1. Cattle
15.2.2.2. Equine
15.2.2.3. Sheep
15.2.3. Others
15.3. Market Value Forecast, by Supplement Type, 2017–2030
15.3.1. Antioxidants
15.3.2. Vitamins
15.3.3. Proteins/Amino Acids
15.3.4. Enzymes
15.3.5. Probiotics
15.3.6. Essential Fatty Acids
15.3.7. Others
15.4. Market Value Forecast, by Application/Benefit Area, 2017–2030
15.4.1. Immunity
15.4.2. Skin/Coat
15.4.3. Joint Health/Mobility
15.4.4. Others
15.5. Market Value Forecast, by Distribution Channel, 2017–2030
15.5.1. Veterinary Hospitals & Clinics
15.5.2. Retail Channels
15.5.3. Online Channels
15.5.4. Others
15.6. Market Value Forecast, by Country/Sub-region, 2017–2030
15.6.1. GCC Countries
15.6.2. South Africa
15.6.3. Rest of Middle East & Africa
15.7. Market Attractiveness Analysis
15.7.1. By Animal Type
15.7.2. By Supplement Type
15.7.3. By Application/Benefit Area
15.7.4. By Distribution Channel
15.7.5. By Country/Sub-region
16. Competition Landscape
16.1. Market Share Analysis, by Company, 2020
16.2. Company Profiles
16.2.1. Mars, Incorporated
16.2.1.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.1.2. Product Portfolio
16.2.1.3. SWOT Analysis
16.2.1.4. Strategic Overview
16.2.2. Nestlé Group
16.2.2.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.2.2. Product Portfolio
16.2.2.3. SWOT Analysis
16.2.2.4. Strategic Overview
16.2.3. J.M. Smucker
16.2.3.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.3.2. Product Portfolio
16.2.3.3. SWOT Analysis
16.2.3.4. Strategic Overview
16.2.4. Hill's Pet Nutrition
16.2.4.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.4.2. Product Portfolio
16.2.4.3. SWOT Analysis
16.2.4.4. Strategic Overview
16.2.5. General Mills, Inc.
16.2.5.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.5.2. Product Portfolio
16.2.5.3. SWOT Analysis
16.2.5.4. Strategic Overview
16.2.6. Diamond Pet Foods
16.2.6.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.6.2. Product Portfolio
16.2.6.3. SWOT Analysis
16.2.6.4. Strategic Overview
16.2.7. Spectrum Brands, Inc.
16.2.7.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.7.2. Product Portfolio
16.2.7.3. SWOT Analysis
16.2.7.4. Strategic Overview
16.2.8. Virbac
16.2.8.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.8.2. Product Portfolio
16.2.8.3. SWOT Analysis
16.2.8.4. Strategic Overview
16.2.9. Amorevet
16.2.9.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.9.2. Product Portfolio
16.2.9.3. SWOT Analysis
16.2.9.4. Strategic Overview
16.2.10. Garmon Corp
16.2.10.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.10.2. Product Portfolio
16.2.10.3. SWOT Analysis
16.2.10.4. Strategic Overview
16.2.11. P.S. Healthcare
16.2.11.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.11.2. Product Portfolio
16.2.11.3. SWOT Analysis
16.2.11.4. Strategic Overview
16.2.12. NUTRI-VET
16.2.12.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.12.2. Product Portfolio
16.2.12.3. SWOT Analysis
16.2.12.4. Strategic Overview
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