Pet supplement sales skyrocketed 21% in 2020, quadrupling the rate of growth in 2019
Rockville (MD), March 2, 2021 — The coronavirus pandemic has elevated to new heights concerns over pet health and wellness, with the constant spotlight on disease and prevention causing Americans to embrace myriad strategies to keep pets healthy. Market research firm Packaged Facts’ November/December 2020 Survey of Pet Owners, which is featured in the brand new report, Pet Supplements in the U.S., 8th Edition, shows that 41% of pet owners are paying closer attention to their pets’ health and wellness because of COVID-19, with 14% changing the health care products they buy their pets.
The end result has been a boon to the pet supplements industry. Packaged Facts estimates that pet supplement sales skyrocketed 21% in 2020 to reach nearly $800 million, quadrupling the rate of growth seen in 2019.
“Interest in pet supplements has risen across the board, but condition-specific formulations directly related to COVID-19 concerns, such as those boosting the immune system and offering stress-reducing or anxiety-reducing benefits, have seen demand soar,” says David Sprinkle, research director for Packaged Facts.
Pets anxiety can be brought on by changing habits and schedules, causing pets to exhibit a range of undesirable behaviors and problems for pet owners attempting to work from home. Additionally, although the influx of new pets into households has been a welcome distraction for many, new pets can become stressed out while attempting to acclimate to their new environments.
This state of affairs is occurring at the same time as the mainstreaming of CBD products, which are perhaps most famous for their anxiety-reducing properties. CBD is also said to provide anti-inflammatory benefits and aid in immune system regulation, additional spot-on areas of interest in COVID-19 era. Other immune-building supplements often feature probiotics—a cross-over from human supplements that continues to gain momentum in the pet market.
About the Report
Building on the analysis presented in the previous editions of this report, this fully updated eighth edition of Pet Supplements in the U.S. covers historical and projected retail sales from 2015 through 2025, competitive strategies of key players, and trends in new product development such as condition-specific formulations, life stage-focused products, feline supplements, natural/organic supplements, and carry-overs from the human supplements market, as well as retail channel trends. The report provides an in-depth examination of the CBD market, following trends in regulation, consumer perceptions, new product development, and marketing. Featuring exclusive data from Packaged Facts’ Surveys of Pet Owners, the report details supplement purchasing trends as well as attitudes and demographic characteristics of both conventional and CBD pet supplement purchasers.
To purchase Pet Supplements in the U.S., 8th Edition visit: https://www.packagedfacts.com/Pet-Supplements-Edition-14015218/. Members of the media can contact Packaged Facts’ Communications Manager Daniel Granderson at firstname.lastname@example.org to request a complimentary report executive summary.
About Packaged Facts
Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, and pet products and services. Packaged Facts also offers a full range of custom research services. Reports can be purchased at our company website and are also available through MarketResearch.com.
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