Table of Contents
Introduction
Global Veterinary Supplements Market size is expected to be worth around US$ 4.1 Billion by 2033, from US$ 2.2 Billion in 2023, growing at a CAGR of 6.3% during the forecast period from 2024 to 2033. With a market share over 43.6%, North America held a strong lead in 2023, reaching US$ 1.0 Billion in revenue. This market growth is primarily driven by increasing awareness of animal health among pet owners and rising global pet ownership rates.
A significant growth factor is the escalating demand for supplements that improve joint health, particularly for aging pets prone to joint issues. Supplements such as omega-3 fatty acids and glucosamine are in high demand for their effectiveness in supporting joint health and mobility. The market for calming and stress relief supplements is also expected to experience substantial growth, fueled by growing recognition of the emotional and behavioral health needs of pets.
However, the market faces challenges that could hinder its expansion. Stringent regulations and the substantial costs associated with product development are major obstacles, potentially delaying the introduction of new products. Moreover, there is a critical need for continuous education of pet owners on the proper use and benefits of these supplements to ensure their safe and effective application.
Recent strategic actions within the industry underscore its dynamic nature. For example, in June 2023, Purina Pro Plan Veterinary Supplements launched a new joint care product designed for dogs of all sizes, aimed at promoting healthy cartilage and joints. Additionally, partnerships like the 2018 collaboration between Vivaldis and Nutramax Laboratories Veterinary Sciences have played a pivotal role in driving innovation and improving pet healthcare solutions.
Key Takeaways
- The Veterinary Supplements Market is expected to expand at a 6.3% annual growth rate.
- By 2033, market value is anticipated to reach US$ 4.1 billion.
- As of 2023, the market’s valuation stood at US$ 2.2 billion.
- Over-the-counter supplements dominated the market in 2023, holding an 84.8% share.
- Dog supplements comprised 43.2% of the market in 2023.
- Cat supplements are projected to grow at an annual rate of 6.5% through 2033.
- In 2023, chewable supplements were the most popular, capturing 74.3% of the market.
- Offline sales channels accounted for 85.2% of market sales in 2023.
- Online sales are expected to increase, with an 8.5% growth rate projected from 2023 to 2033.
- North America is the leading market, controlling 43.6% of the global share in 2023.
Veterinary Supplements Statistics
- Pet Ownership Surge: During the first year of the COVID-19 pandemic, nearly 23 million American households acquired a pet.
- Pet Spending Growth: In 2022, American pet spending reached $136.8 billion, a 51% increase from 2018.
- Pet Food and Treats Spending: $58.1 billion was spent on pet food and treats in 2022.
- Veterinary Care Spending: Veterinary care costs amounted to $35.9 billion in 2022.
- Pet Supplement Market Value: The pet supplements market is valued at approximately $3 billion.
- Growth Forecast for Pet Supplements: The projected CAGR for dog and cat products ranges from 3% to 6%.
- CBD Study in Dogs: A 90-day study found that 5 mg per kg body weight of CBD is safe for dogs.
- Veterinary Spending (2021): Italian pet owners spent €693.16 million on veterinary services in 2021.
- Veterinary Influence on Pet Care: 94% of pet owners adhere to their veterinarian’s health care recommendations.
- Dietary Advice from Veterinarians: Over 80% of pet owners seek dietary guidance from their veterinarians.
- Use of Supplements: 32% of Italian pet parents purchase supplements for their pets.
- Online Purchases: 37% of veterinary supplements are purchased online, indicating a preference for e-commerce.
- Pharmacies: 36% of these supplements are bought from pharmacies, underscoring their role as a trusted source.
- Pet Stores: 17% of supplements are purchased from pet stores, reflecting their accessibility.
- Manufacturer’s Website: 7% of sales are made directly through manufacturer websites, suggesting brand loyalty.
- Vitamin and Supplement Usage (Dogs): 48% of dog owners used vitamins and supplements in 2022, up from 34% in 2018.
- Vitamin and Supplement Usage (Cats): 32% of cat owners administered vitamins and supplements in 2022, an increase from 20% in 2018.
- Calming Products Usage (Dogs): 21% of dog owners used calming supplements, chews, or treats in 2022, compared to 5% in 2018.
- Calming Products Usage (Cats): 15% of cat owners used calming supplements, chews, or treats in 2022, up from 4% in 2018.
- CBD Treats (Dogs): 26% of dog owners purchased CBD treats for their pets in 2022, a slight increase from 24% in 2020.
- CBD for Anxiety or Stress (Dogs): In 2022, 25% of dog owners used CBD for their pet’s anxiety or stress, up from 19% in 2020.
- CBD for Arthritis or Joint Pain (Dogs): 15% of dog owners used CBD for arthritis or joint pain in 2022, up from 14% in 2020.
- CBD for Pain (Dogs): 14% of dog owners used CBD to manage their pet’s pain in 2022, an increase from 13% in 2020.
- CBD for Anxiety or Stress (Cats): 23% of cat owners used CBD for anxiety or stress in their cats in 2022, up from 18% in 2020.
- CBD for Pain (Cats): 16% of cat owners used CBD for pain relief in 2022, an increase from 13% in 2020.
- CBD for Arthritis or Joint Pain (Cats): 14% of cat owners used CBD for arthritis or joint pain in their cats in 2022, up from 12% in 2020.
Emerging Trends in Veterinary Practices
- Integration of Artificial Intelligence (AI): The adoption of AI in veterinary practices is transforming the industry, enabling improved diagnostic precision, streamlined patient management, and enhanced service delivery. AI-driven tools automate routine tasks and optimize imaging and data analysis, allowing veterinarians to provide more accurate and efficient care. This technology is expected to become more widespread as its accessibility improves and benefits are further recognized.
- Expansion of Telemedicine: Telemedicine is reshaping veterinary care by enabling remote Veterinary-Client-Patient Relationships (VCPR) under evolving regulations. This trend addresses the growing demand for convenient healthcare solutions, extending access to underserved areas. Online consultations make veterinary advice and treatment options more accessible, with this growth trajectory projected to continue beyond 2024.
- Adoption of Cloud-Based Systems: Veterinary clinics are increasingly transitioning to cloud-based practice management systems. These solutions reduce reliance on physical IT infrastructure and offer benefits like enhanced data security, scalable storage, and seamless integration with digital tools. Features such as online scheduling and virtual consultations improve client experience, driving accelerated adoption in the veterinary industry.
- Advanced Monitoring Technologies: Wearable devices and smart monitoring systems are revolutionizing pet healthcare by providing real-time insights into pets’ health. These tools monitor vital signs and activity levels, enabling preventive care and early intervention. As technology advances, these devices are becoming essential for modern pet care, driving the growth of the pet wearables market.
- Consolidation Adjustments: Following a wave of mergers and acquisitions, the veterinary industry is focusing on sustainable growth and operational efficiency. Veterinary practices are adapting to new economic realities by reevaluating strategies and business models, fostering resilience and ensuring long-term industry stability.
- Use Cases of Veterinary Supplements
- Enhanced Patient Care: Veterinary supplements play a critical role in improving pets’ overall health by addressing nutritional deficiencies. Omega-3 fatty acids, for instance, promote a shiny coat and reduce inflammation, enhancing pets’ quality of life and vitality.
- Disease Management: Supplements like glucosamine are vital for managing age-related conditions like arthritis. These supplements support joint health by repairing cartilage, alleviating pain, and improving mobility, enhancing older pets’ comfort and activity levels.
- Preventive Health: Probiotics and digestive supplements help maintain balanced gut flora, supporting digestion and boosting immunity. These supplements prevent gastrointestinal issues, reduce vet visits, and enhance pets’ overall health and resilience to illness.
- Behavioral Aids: Supplements with natural ingredients like pheromones or tryptophan address behavioral issues such as anxiety and stress. These products help calm pets during stressful situations, creating a more harmonious environment for both pets and their owners.
- Support During Illness Recovery: Recovery from surgery or illness often requires additional nutritional support. Supplements rich in vitamins and minerals aid in tissue repair, immune system strengthening, and faster recovery, helping pets regain health and energy efficiently.
Recent Developments in the Veterinary Supplements Market
- Acquisition of VetriScience by Elanco (March 2023): Elanco Animal Health Incorporated expanded its product line through the acquisition of VetriScience, a leading provider of veterinarian-formulated supplements for pets. This strategic move aims to enhance Elanco’s position in the preventative care and wellness sector, providing an integrated approach to animal health.
- Launch of Probiotic Supplements by Zoetis (July 2023): Zoetis, a global leader in animal health, introduced a new line of probiotic supplements specifically designed for both dogs and cats. These supplements aim to improve gut health and overall wellness, reinforcing Zoetis’s commitment to expanding its nutritional products portfolio.
- Merger of Nutramax with Ceva Sante Animale (June 2023): Nutramax, renowned for its high-quality joint health supplements, merged with Ceva Sante Animale, a global veterinary health company. This merger is set to create a powerhouse in the veterinary health market, combining strengths in pharmaceuticals and nutraceuticals to enhance pet care innovations.
- Introduction of Advanced Joint Care Chews by Bayer Animal Health (May 2023): Bayer Animal Health launched an advanced formula of joint care chews designed to support mobility in older dogs. These supplements are formulated with enhanced levels of glucosamine and chondroitin, aimed at improving the life quality of aging pets.
- Acquisition of Holistic Select by Mars Petcare (April 2023): Mars Petcare acquired Holistic Select Pet Foods, which includes a popular line of dietary supplements for pets. This acquisition is part of Mars Petcare’s strategy to diversify its wellness offerings and strengthen its leadership in the premium pet food and health markets.
- New Calming Supplement Range by Purina (August 2023): Purina launched a new range of calming supplements aimed at reducing anxiety and stress in pets. These new products utilize natural ingredients and are backed by extensive research, highlighting Purina’s ongoing commitment to innovation in animal health and wellness.
Conclusion
The veterinary supplements market is poised for robust growth, driven by increasing pet ownership and a heightened awareness of pet health needs. As the market evolves, key developments such as the integration of AI in veterinary practices, the expansion of telemedicine, and the adoption of cloud-based systems are enhancing the efficiency and accessibility of pet healthcare.
Despite facing challenges such as stringent regulatory environments and the high costs of product development, strategic acquisitions and product launches continue to energize the industry. The introduction of advanced supplements is set to improve pet health, addressing issues from joint health to emotional well-being. Overall, the market is on a trajectory of sustained growth and innovation, promising significant advancements in the health and wellness of pets globally.
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