Pet Supplements in the U.S., 7th Edition
Pet Supplements in the U.S., 7th EditionFor over a decade pet supplements have been steady and at times outstanding pet market performers, maintaining momentum thanks the overall pet market’s driving focus on health and wellness, increased attention to age- and obesity-related pet health conditions and risks, the strengthening embrace of nutrition as part of a preventative health and wellness routine, and ongoing high-level interest in functional ingredients and products targeting specific health conditions.
The market has also benefited from the popularization and cross-over of various ingredients from the human side, such as glucosamine and omega fatty acids. Looking back, however, it’s hard to recall anything making more of a splash in human and pet supplements than CBD (cannabidiol), whose explosion on to the market has brought new attention to the supplements business as a whole, with a “halo effect” that seems likely to last for years. Both driving and reacting to consumer demand for CBD, interest in the medical and medication-manufacturing community is at an all-time high, with studies showing CBD to be useful in treating myriad health conditions including anxiety and pain.
Packaged Facts’ Pet Supplements in the U.S., 7th Edition provides a thorough analysis of how these trends are playing out as marketers seek new ways to make supplements an integral part of pet wellness. The market is expected to show moderate but steady growth for the foreseeable future, bolstered by the continued raising of the bar on pet wellness in the broader pet products industry.
Despite the favorable outlook, pet supplement marketers will continue to face competition from marketers of functional, condition-specific treats and foods, which can siphon sales away from pet supplements as pet owners seek out ways to address their pets’ nutritional and wellness needs in convenient and pet-pampering formats. CBD pharmaceuticals for pets are also likely to emerge as competitors. Pet supplement marketers must also remain up-to-date by capitalizing on-trend ingredients such as CBD while still assuring consumers of product safety and efficacy.
Scope and Methodology
Building on the analysis presented in the previous editions of this report, this fully updated 7th edition of Pet Supplements in the U.S. covers historical and projected retail sales from 2014 through 2023, competitive strategies of key players, and trends in new product development such as alternative formulations, condition-specific products, feline supplements, natural/organic supplements, and carry-overs from the human supplements market, as well as retail channel trends. Featuring exclusive data from Packaged Facts’ February through April 2019 Surveys of Pet Owners, the report details pet supplement purchasing trends as well as the attitudes and priorities of pet supplement buyers. The report also incorporates Simmons consumer survey data to profile pet supplement purchaser demographics.
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