The Latest Pet Supplements Industry Statistics Explained
Global pet supplements market size was valued at USD 637.6 million in 2019
The statistic ‘Global pet supplements market size was valued at USD 637.6 million in 2019’ indicates the total estimated value of sales generated in the global market for pet health supplements during the year 2019. This figure reflects the revenue generated from the sale of various nutritional supplements, vitamins, and other health products specifically designed for pets across the world. It serves as a key metric to gauge the size and growth of the pet supplements industry, highlighting the increasing trend towards pet health and wellness among owners, leading to significant market opportunities for manufacturers and suppliers in this segment.
The global pet supplement market is expected to reach USD 1.05 billion by 2027
The statistic that the global pet supplement market is expected to reach USD 1.05 billion by 2027 indicates the anticipated value of sales for pet health and dietary supplements worldwide by the year 2027. This figure suggests a significant growth and increased demand for pet supplements, driven by factors such as the rising awareness of pet health and wellness, humanization of pets, and advancements in pet care products. As more pet owners seek to provide their furry companions with supplements to support their overall health and well-being, the market is projected to experience substantial expansion, offering opportunities for pet supplement manufacturers, retailers, and other industry stakeholders to capitalize on this growing trend.
The United States pet supplements industry was worth over $684 million in 2020.
The statistic that the United States pet supplements industry was worth over $684 million in 2020 indicates the significant financial value of the market for products designed to enhance the health and well-being of pets. This figure represents the total revenue generated by sales of pet supplements in the U.S. over the course of 2020. The size of this industry suggests a growing trend towards pet owners investing in the health and quality of life of their animal companions, likely driven by factors such as increased awareness of pet health issues, advancements in veterinary medicine, and a growing emphasis on the well-being of pets as valued members of the family. The substantial market value also points to the prevalence of pet ownership in the U.S. and the importance that many individuals place on providing their pets with the best possible care and nutrition.
Dogs contributed to the highest share of 40.1% of the global pet supplements market in 2020
The statistic that “Dogs contributed to the highest share of 40.1% of the global pet supplements market in 2020” means that out of all the different types of pets for which supplements are available, dogs accounted for the largest portion of sales. This indicates that dog owners are the most likely consumers of pet supplements compared to owners of other types of animals such as cats, birds, or fish. The high market share of dog supplements suggests that there is a significant demand for products that cater to the health and well-being of dogs, possibly driven by a large population of pet dogs worldwide and increasing awareness of the importance of pet health.
The pet supplement industry is being driven largely by an increased focus on pet health and increasing pet ownership in developing nations.
The statistic indicates that the growth of the pet supplement industry is primarily attributed to two key factors: a rising emphasis on pet health and an increase in pet ownership within developing nations. With a heightened awareness and concern for the well-being of pets, more pet owners are turning to supplements to enhance their pets’ health and address specific health concerns. Additionally, as pet ownership continues to rise in developing nations, driven by factors such as increased disposable income and urbanization, there is a growing market for pet supplements to cater to the needs of these new pet owners. Overall, the combination of a focus on pet health and expanding pet ownership in developing nations is playing a significant role in driving the growth of the pet supplement industry.
Sales of pet supplements are growing in online vertical at a CAGR of over 12%.
The statistic indicates that sales of pet supplements in the online vertical are experiencing steady growth at a compound annual growth rate (CAGR) of over 12%. This implies that the demand for pet supplements purchased online is increasing consistently over time at a significant rate. The CAGR metric considers the growth rate over multiple periods, providing a more accurate representation of the overall trend compared to simple annual growth rates. The data suggests that online sales of pet supplements are a lucrative and expanding market, indicating a preference among consumers for purchasing these products through digital channels.
The market size of cat supplements is expected to reach USD 313.9 million by 2027
The statistic “The market size of cat supplements is expected to reach USD 313.9 million by 2027” indicates the projected total value of the market for cat supplements in terms of revenue by the year 2027. This figure suggests a forecasted growth in demand for products aimed at improving the health and well-being of pet cats. The projected increase in market size reflects a potential rise in consumer awareness and spending on specialized nutritional supplements for cats, indicating a growing trend towards prioritizing pet health and wellness. Businesses operating in the cat supplement industry can use this statistic to anticipate and strategize for future market opportunities and adapt their product offerings to meet the evolving needs of pet owners.
Joint health supplements are leading the supplement sales with a share of 37.1% in 2019.
The statistic indicates that joint health supplements dominated the supplement market in 2019, capturing a significant share of 37.1%. This high market share suggests that consumers have shown a strong preference for joint health supplements over other types of supplements during that year. The popularity of these supplements may be attributed to factors such as increasing awareness of joint health issues, aging populations seeking support for joint function, and the effectiveness of these products in managing joint pain and stiffness. The data highlights the importance of joint health supplements in the supplement industry and underscores the significant demand for products aimed at improving or maintaining joint health.
About 26% of dog owners gave supplements to their dogs in 2016.
The statistic “About 26% of dog owners gave supplements to their dogs in 2016” indicates that approximately a quarter of all individuals who owned dogs in 2016 reported providing their pets with dietary supplements. This data suggests a significant portion of dog owners in the given year were proactive about the health and well-being of their pets by supplementing their diets. Understanding the prevalence of this behavior can be beneficial for various stakeholders, including veterinarians, pet food manufacturers, and researchers interested in the intersection of pet nutrition and human-animal bonds.
55% of pet supplements were sold through the e-commerce channel, due to convenience and increased availability
The statistic indicates that 55% of pet supplements were purchased through e-commerce platforms, highlighting a significant preference for online shopping in this particular market. This trend can be attributed to the convenience and greater availability of products provided by e-commerce channels compared to traditional brick-and-mortar stores. Consumers are opting for the ease of browsing and ordering pet supplements online, potentially driven by the broader selection, competitive pricing, and the ability to shop from the comfort of their homes. This shift towards e-commerce for pet supplement purchases underscores the evolving consumer behavior and the importance of online retail in addressing customers’ needs and preferences in the pet care industry.
Fish oil/omega supplements accounted for about 13.2% of the global pet supplements market in 2020.
The statistic that fish oil/omega supplements accounted for approximately 13.2% of the global pet supplements market in 2020 indicates the proportion of sales that this specific type of supplement contributed to the overall market. This suggests that fish oil/omega supplements were a significant category within the pet supplements industry, capturing a notable share of consumer spending and demand. This information can be valuable for businesses operating in the pet supplements market, as it highlights the popularity and importance of fish oil/omega supplements among pet owners and the potential opportunities for growth and competition within this segment of the market.
Millennial pet owners were responsible for a significant increase in pet supplement sales in 2019
This statistic suggests that individuals belonging to the Millennial generation, typically born between 1981 and 1996, played a crucial role in driving growth in the sales of pet supplements during the year 2019. The term “significant increase” implies a notable and substantial rise in the consumption of pet supplements specifically attributed to Millennial pet owners. This trend reflects a shift towards a greater focus on the health and well-being of pets among this demographic group, who are more likely to view their pets as valued family members and prioritize their overall health and quality of life. The implication is that companies operating in the pet supplement industry should take note of the preferences and behaviors of Millennial pet owners in order to effectively market and cater to this influential consumer segment.
Asia-Pacific is expected to witness the fastest growth in the pet supplement market due to urbanization, increased pet adoption, and rising disposable incomes.
The statistic indicates that the Asia-Pacific region is projected to experience the most rapid expansion in the pet supplement market compared to other regions. This growth is attributed to several factors, including urbanization, which typically leads to higher pet ownership rates, increased adoption of pets, as well as rising disposable incomes among consumers in the region. These trends suggest an increasing willingness and ability among pet owners in Asia-Pacific to invest in supplementary products to enhance the health and well-being of their pets. As a result, companies operating in the pet supplement industry may benefit from seizing opportunities in this region to meet the growing demand for such products.
Out of all pet supplement types, MCT oil for pets is set to grow at the highest rate from 2020-2027.
The statistic suggests that among all types of pet supplements available in the market, MCT oil for pets is anticipated to experience the fastest growth rate between the years 2020 and 2027. This indicates a significant increase in the demand and adoption of MCT oil as a supplement for pets during this period. MCT oil is likely gaining popularity among pet owners due to its perceived benefits for pet health and well-being. The rapid growth in the market for MCT oil for pets may be driven by various factors such as increasing awareness among pet owners about the potential advantages of MCT oil, a shift towards more natural and health-conscious pet care products, and positive recommendations from veterinarians and pet health professionals.
In terms of sales, the brick and mortar sector accounted for 25% of pet supplement sales in 2019.
The statistic “In terms of sales, the brick and mortar sector accounted for 25% of pet supplement sales in 2019” indicates that out of all the sales of pet supplements in 2019, one quarter (25%) were made through physical retail stores rather than online or other distribution channels. This suggests that brick and mortar stores still play a significant role in the consumer market for pet supplements despite the increasing shift towards online shopping. The data underscores the continued importance and market presence of traditional retail outlets in the pet supplement industry, highlighting the need for businesses to consider both online and offline strategies to effectively reach their target customers and maximize sales opportunities in a competitive market landscape.
Natural/organic products are gaining high traction among pet owners with around 15% growth in 2019.
The statistic indicates a growing trend among pet owners towards choosing natural or organic products for their pets, with a notable increase of approximately 15% in 2019. This suggests a shift in consumer preferences towards healthier and more environmentally friendly options for their pets, potentially driven by a growing awareness of the benefits of natural ingredients and sustainability. The rise in demand for natural/organic pet products reflects a larger trend in the pet industry towards premium offerings that prioritize pet health and well-being. As pet owners continue to prioritize the health and wellness of their furry companions, the popularity of natural and organic pet products is likely to continue to rise in the future.
Vitamin and mineral supplements for dogs held the second-largest market share in 2020.
This statistic indicates that in the year 2020, vitamin and mineral supplements for dogs held the second-largest market share within the pet care industry. This suggests that there is a significant demand for these supplements among dog owners, highlighting a growing trend towards prioritizing the health and well-being of pets. The popularity of these supplements may be attributed to the increasing awareness of pet owners regarding the importance of providing their dogs with adequate nutrition and support for their overall health. Furthermore, this statistic also implies that there is a competitive market for these products, with various brands vying for a significant portion of the market share, leading to diverse offerings and options for consumers looking to supplement their dogs’ diets.
References
0. – https://www.www.grandviewresearch.com
1. – https://www.www.researchandmarkets.com
2. – https://www.www.petfoodindustry.com
3. – https://www.americanpetproducts.org
4. – https://www.www.marketsandmarkets.com
5. – https://www.www.mordorintelligence.com
