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Pet Dietary Supplements Market to grow by $ 666 Million During 2020-2024 | 35% growth to come from Europe | Technavio

·11 min read

NEW YORK, May 17, 2021 /PRNewswire/ --

Technavio has announced its latest market research report titled Pet Dietary Supplements Market by Application, Animal Type, and Geography - Forecast and Analysis 2020-2024
Technavio has announced its latest market research report titled Pet Dietary Supplements Market by Application, Animal Type, and Geography - Forecast and Analysis 2020-2024

Technavio has been monitoring the pet dietary supplements market and it is poised to grow by USD 666.55 million during 2020-2024, progressing at a CAGR of about 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

The report identifies the growing trend toward organic pet dietary supplements, the increasing use of healthy ingredients in pet dietary supplements, and omnichannel retailing as major trends in the market. However, increasing competition from functional and fortified pet food category might challenge growth.

For more insights on the pet dietary supplements market, Download Our Free Sample Report Now


Frequently Asked Questions:

  • Based on segmentation by Application, which is the leading segment in the market?
    Based on the application, the market saw maximum growth in the joint-health segment, while the liver and kidney segment registered the least growth. The 2019 market position of all the applications segments will likely remain the same through 2024.

  • What are the major drivers in the market?
    The market is mainly driven by rising pet ownership. In addition, other factors such as pet humanization and increasing focus on health and wellness of pets, increasing focus on health and wellness of pets, and the launch of high-quality pet dietary supplements are also contributing to the growth of the market.

  • At what rate is the market projected to grow?
    The market is projected to grow at a CAGR of about 5% during the forecast period.

  • Who are the top players in the market?
    Ark Naturals Co., Beaphar Beheer BV, Boehringer Ingelheim International GmbH, FoodScience Corp., Kemin Industries Inc., Nestlé SA, NOW Health Group Inc., Nutramax Laboratories Inc., Nutri-Pet Research Inc., and Only Natural Pet are the top players in the market.

Related Reports on Consumer Staples Include:

Global Organic Pet Food Market - Global organic pet food market is segmented by Product (Dry organic food and Wet organic food), Type (Organic dog food, Organic cat food, and Others), and Geography (North America, Europe, APAC, South America, and MEA).
Download Exclusive Free Sample Report

Global Wet Pet Food Market - Global wet pet food market is segmented by product (wet cat food, wet dog food, and others), distribution channel, and geography (North America, Europe, APAC, South America, and MEA).
Download Exclusive Free Sample Report

The report offers detailed analysis on the impact of disruption threats by comparing disruptive sources and factors driving disruption

View Our Sample Report Before Purchasing

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Ark Naturals Co., Beaphar Beheer BV, Boehringer Ingelheim International GmbH, FoodScience Corp., Kemin Industries Inc., Nestlé SA, NOW Health Group Inc., Nutramax Laboratories Inc., Nutri-Pet Research Inc., and Only Natural Pet are some of the major market participants. Although the rising pet adoption will offer immense growth opportunities, rising competition from functional and fortified pet food categories is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this pet dietary supplements market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Pet Dietary Supplements Market 2020-2024: Segmentation
Pet Dietary Supplements Market is segmented as below:

  • Application

  • Market Landscape

  • Geographic Landscape

To learn more about the global trends impacting the growth of each segment by downloading our free sample report:
https://www.technavio.com/talk-to-us?report=IRTNTR41310

Pet Dietary Supplements Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The pet dietary supplements market report covers the following areas:

  • Pet Dietary Supplements Market Size

  • Pet Dietary Supplements Market Trends

  • Pet Dietary Supplements Market Industry Analysis

This study identifies the growing trend of organic pet dietary supplements as one of the prime reasons driving the Pet Dietary Supplements Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
Register for a free trial today and gain instant access to 17,000+ market research reports.
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Pet Dietary Supplements Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist pet dietary supplements market growth during the next five years

  • Estimation of the pet dietary supplements market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the pet dietary supplements market across APAC, Europe, MEA, North America, and South America

  • Analysis of the market's competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of pet dietary supplements market vendors

Table of Contents:

1. Executive Summary

2. Market Landscape

2.1 Market ecosystem

Exhibit 01: Parent market

Exhibit 02: Market characteristics

2.2 Value chain analysis

Exhibit 03: Value Chain: Global packaged foods and meats market

  • Producers

  • Processors

  • End-user industries

3. Market Sizing

3.1 Market definition

Exhibit 04: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 05: Market segments

3.3 Market size 2019

3.4 Market outlook: Forecast for 2019 - 2024

Exhibit 06: Global - Market size and forecast 2019 - 2024 ($ million)

Exhibit 07: Global market: Year-over-year growth 2019 - 2024 (%)

4. Five Forces Analysis

4.1 Five Forces Summary

Exhibit 08: Five forces analysis 2019 & 2024

4.2 Bargaining power of buyers

4.3 Bargaining power of suppliers

4.4 Threat of new entrants

4.5 Threat of substitutes

4.6 Threat of rivalry

4.7 Market condition

Exhibit 14: Market condition - Five forces 2019

5. Market Segmentation by Application
Based on type, the global pet dietary supplements market has been segmented into joint-health, skin and coat, gastrointestinal tract, liver and kidney, and others.

The 4 segments have been ranked based on their market size in 2019. Joint-health constituted the largest segment in 2019, while the smallest segment was liver and kidney. The 2019 market position of all the 4 segments will likely remain the same in 2024. The ranking of none of the segments will change by 2024; this indicates that the market composition will see limited changes.

5.1 Market segments

Exhibit 15: Application placement - Market share 2019-2024 (%)

5.2 Comparison by Application placement

5.3 Joint-health - Market size and forecast 2019-2024

Exhibit 17: Joint-health - Market size and forecast 2019-2024 ($ million)

Exhibit 18: Joint-health - Year-over-year growth 2019-2024 (%)

5.4 Skin and coat - Market size and forecast 2019-2024

Exhibit 19: Skin and coat - Market size and forecast 2019-2024 ($ million)

Exhibit 20: Skin and coat - Year-over-year growth 2019-2024 (%)

5.5 Gastrointestinal tract - Market size and forecast 2019-2024

Exhibit 21: Gastrointestinal tract - Market size and forecast 2019-2024 ($ million)

Exhibit 22: Gastrointestinal tract - Year-over-year growth 2019-2024 (%)

5.6 Liver and kidney - Market size and forecast 2019-2024

Exhibit 23: Liver and kidney - Market size and forecast 2019-2024 ($ million)

Exhibit 24: Liver and kidney - Year-over-year growth 2019-2024 (%)

5.7 Others - Market size and forecast 2019-2024

Exhibit 25: Others - Market size and forecast 2019-2024 ($ million)

Exhibit 26: Others - Year-over-year growth 2019-2024 (%)

5.7.1 Pet dietary supplements for cardiovascular support

5.7.2 Pet dietary supplements for dental and oral health

5.8 Market opportunity by Application

6. Market Segmentation by Animal Type
Based on animal type, the global pet dietary supplements market has been segmented into dog, cat, and others.

The 3 segments have been ranked based on their market size in 2019. Dog constituted the largest segment in 2019, while the smallest segment was others. The 2019 market position of all the 3 segments will likely remain the same in 2024. The ranking of none of the segments will change by 2024; this indicates that the market composition will see limited changes.

6.1 Market segments

6.2 Comparison by Animal type placement

Exhibit 29: Comparison by animal type placement

6.3 Dog - Market size and forecast 2019-2024

Exhibit 30: Dog - Market size and forecast 2019-2024 ($ million)

Exhibit 31: Dog - Year-over-year growth 2019-2024 (%)

6.4 Cat - Market size and forecast 2019-2024

Exhibit 32: Cat - Market size and forecast 2019-2024 ($ million)

Exhibit 33: Cat - Year-over-year growth 2019-2024 (%)

6.5 Others - Market size and forecast 2019-2024

Exhibit 34: Others - Market size and forecast 2019-2024 ($ million)

Exhibit 35: Others - Year-over-year growth 2019-2024 (%)

6.6 Market opportunity by Animal type

7. Customer landscape
Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

8. Geographic Landscape
Based on geography, the global pet dietary supplements market has been segmented into APAC, North America, Europe, South America, and MEA.

The 5 regions have been ranked based on their market size in 2019. North America constituted the largest region in 2019, while the smallest region was MEA. The 2019 market position of all 5 regions will likely remain the same in 2024. The ranking of none of the regions will change by 2024; this indicates that the market composition will see limited changes.

8.1 Geographic segmentation

Exhibit 38: Market share by geography 2019-2024 (%)

8.2 Geographic comparison

8.3 North America - Market size and forecast 2019-2024

Exhibit 40: North America - Market size and forecast 2019-2024 ($ million)

Exhibit 41: North America - Year-over-year growth 2019-2024 (%)

8.4 Europe - Market size and forecast 2019-2024

Exhibit 42: Europe - Market size and forecast 2019-2024 ($ million)

Exhibit 43: Europe - Year-over-year growth 2019-2024 (%)

8.5 APAC - Market size and forecast 2019-2024

Exhibit 44: APAC - Market size and forecast 2019-2024 ($ million)

Exhibit 45: APAC - Year-over-year growth 2019-2024 (%)

8.6 South America - Market size and forecast 2019-2024

Exhibit 46: South America - Market size and forecast 2019-2024 ($ million)

Exhibit 47: South America - Year-over-year growth 2019-2024 (%)

8.7 MEA - Market size and forecast 2019-2024

Exhibit 48: MEA - Market size and forecast 2019-2024 ($ million)

Exhibit 49: MEA - Year-over-year growth 2019-2024 (%)

8.8 Key leading countries

8.9 Market opportunity by geography

Exhibit 51: Market opportunity by geography ($ million)

9. Drivers, Challenges, and Trends

9.1 Volume driver - Demand led growth

9.1.1 Rising pet ownership

9.1.2 Pet humanization and increasing focus on health and wellness of pets

9.1.3 Increasing focus on health and wellness of pets

9.1.4 Players offering high-quality pet dietary supplements

9.2 Market challenges

9.2.1 Competition from functional and fortified pet food category

9.2.2 Concerns regarding potential risks associated with pet dietary supplements

9.2.3 Increasing instances of pet allergies among pet owners

Impact of drivers and challenges

9.3 Market trends

9.3.1 Omnichannel retailing

9.3.2 Growing trend toward organic pet dietary supplements

9.3.3 Increasing use of healthy ingredients in pet dietary supplements

10. Vendor Landscape

10.1 Overview

10.2 Vendor landscape

Analysis of Criticality of inputs and Factors of differentiation

10.3 Landscape disruption

Techanavio's Analysis on the impact of Disruption Threats by comparing Disruptive sources and Factors driving disruption

Exhibit 47: Industry risks

11. Vendor Analysis

11.1 Vendors covered

11.2 Market positioning of vendors

11.3 Ark Naturals Co.

Overview

Business Segments

Key Offering

Segment Focus

11.4 Beaphar Beheer BV

Overview

Business Segments

Key Offering

Segment Focus

11.5 Boehringer Ingelheim International GmbH

Overview

Business Segments

Key Offering

Segment Focus

11.6 FoodScience Corp.

Overview

Business Segments

Key Offering

Segment Focus

11.7 Kemin Industries Inc.

Overview

Business Segments

Key Offering

Segment Focus

11.8 Nestlé SA

Overview

Business Segments

Key Offering

Segment Focus

11.9 NOW Health Group Inc.

Overview

Business Segments

Key Offering

Segment Focus

11.10 Nutramax Laboratories Inc.

Overview

Business Segments

Key Offering

Segment Focus

11.11 Nutri-Pet Research Inc.

Overview

Business Segments

Key Offering

Segment Focus

11.12 Only Natural Pet

Overview

Business Segments

Key Offering

Segment Focus

12. Appendix

12.1 Scope of the report

12.2 Currency conversion rates for US$

Research Methodology

Validation techniques employed for market sizing

12.4 List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Email: media@technavio.com
Website: www.technavio.com/
Report: www.technavio.com/report/pet-dietary-supplements-market-size-industry-analysis

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  • Coinbase Falls Below $250 Reference Price for First Time Amid Crypto Correction

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  • Global Banks Losing Share in China’s $186 Billion Loan Market

    (Bloomberg) -- Global banks are losing share in the $186 billion lending market for Chinese borrowers offshore, falling behind local rivals boosting their presence just as the nation’s corporate sector recovers from the pandemic.Their portion of such lending has steadily dropped over the past decade, hitting 37% so far this year to May 17, well below the 11-year average of 51%, according to Bloomberg-compiled data. Last year the share fell to 29%, the lowest since at least 2010. Taking over the slack are local lenders led by Bank of China Ltd., which has made the most offshore loans in the country for at least the last three years.The increased prominence of Chinese banks in the offshore loan market reflects the growth in general of the lenders as the economy expands. Industrial & Commercial Bank of China Ltd. has seen its total assets more than double in the past decade to $5.1 trillion in 2020, making it the world’s largest bank by that measure, and the holdings of its big three state-owned rivals have also ballooned at a similar pace.For foreign banks, the increased competition from their Chinese rivals could lead to shrinking profit margins on deals, said Gary Ng, economist at Natixis SA in Hong Kong.Deals in China’s offshore loans, which are non-yuan debt clubbed or syndicated in Asia excluding China for the nation’s borrowers, have grown eightfold to $44.7 billion last year from $5.2 billion in 2010, Bloomberg-compiled data show. Bankers expect mergers and acquisitions to help drive such borrowings this year as the global economy recovers from the pandemic. The rebound in China is also likely to extend into the second quarter, according to Bloomberg economist Chang Shu.A look at the share of China offshore loans among the top global banks highlights their retreat. Standard Chartered Plc’s portion fell to 5% last year from 9% in 2010 while HSBC Holdings Plc dropped to 3% from 6% in the same period. Market leader Bank of China’s share climbed to about 8% from 2% in the period.Spokespeople at Standard Chartered and HSBC declined to comment. There was no immediate reply from Bank of China to an email seeking comment.Some international lenders are already reducing staff for the loans or exiting the market completely. Australia’s Westpac Banking Corp. said it aims to close its mainland China and Hong Kong branches next year, subject to local regulatory approval.“For a lot of international banks, the competitive pressure on margins and terms may not meet their returns hurdle, making it less appealing for them to participate,” according to Augusto King, co-head of Asia debt capital markets - loans and bonds at MUFG Securities Asia.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • SK Hynix seeks talks to buy Korea-based chip contract manufacturer - media

    SK Hynix Inc, the world's second-largest memory chip maker, has requestd talks to acquire South Korea-based Key Foundry, a chip contract manufacturer, a South Korean newspaper reported on Monday. SK Hynix has expressed intention to negotiate for the full acquisition of the 8-inch wafer foundry, Korea Economic Daily reported on Monday citing unnamed sources in the tech and investment banking industries. SK Hynix said that it is considering various measures to expand its foundry business, but nothing has been finalised.

  • Bitcoin Tumbles After Musk Implies Tesla May Sell Cryptocurrency

    (Bloomberg) -- Elon Musk continued to whipsaw the price of Bitcoin, briefly sending it to the lowest since February after implying in a Twitter exchange Sunday that Tesla Inc. may sell or has sold its cryptocurrency holdings.Bitcoin slid below $45,000 for the first time in almost three months after the billionaire owner of the electric-car maker seemed to agree with a Twitter post that said Tesla should divest what at one point was a $1.5 billion stake in the largest cryptocurrency. It traded at $45,270 as of 5:51 p.m. in New York, down about $4,000 from where it ended Friday.The online commentary was the latest from the mercurial billionaire in a week of public statements that have roiled digital tokens. He lopped nearly $10,000 off the price of Bitcoin in hours last Wednesday after saying Tesla wouldn’t take it for cars. A few days earlier, he hosted “Saturday Night Live” and joked that Dogecoin, a token he had previously promoted, was a “hustle,” denting its price. Days later he tweeted he was working with Doge developers to improve its transaction efficiency.Musk’s disclosure in early February that Tesla used $1.5 billion of its nearly $20 billion in corporate cash to buy Bitcoin sent the token’s price to record and lent legitimacy to electronic currencies, which have become more of a mainstream asset in recent years despite some skepticism.His latest dustup with Bitcoin started with a tweet from a person using the handle @CryptoWhale, which said, “Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their #Bitcoin holdings. With the amount of hate @elonmusk is getting, I wouldn’t blame him...”The Tesla chief executive officer responded, “Indeed.”The twitter account @CryptoWhale, which calls itself a “crypto analyst” in its bio, also publishes a Medium blog on market and crypto trends.Musk has spent hours Sunday hitting back at several different users on Twitter who criticized his change of stance on Bitcoin last week, a move he said was sparked by environmental concerns over the power demands to process Bitcoin transactions. He said at the time that the company wouldn’t be selling any Bitcoin it holds.An outspoken supporter of cryptocurrencies with cult-like following on social media, Musk holds immense sway with his market-moving tweets. He has been touting Dogecoin and significantly elevated the profile of the coin, which started as a joke and now ranks the 5th largest by market value.Dogecoin is down 9.6% in the last 24 hours, trading at 47 cents late Sunday afternoon, according to data from CoinMarketCap.com.Tesla didn’t immediately respond to an email seeking comment on Musk’s tweet on Sunday.Read More: Elon Musk Just Reopened an Old Wound in the Bitcoin WorldMusk’s Sunday social-media escapades were the latest chapter in one of the zaniest weeks in a crypto world famous for its wildness. For die hards, the renewed slumps in Bitcoin and other tokens have done nothing to deter crypto enthusiasts who say digital coins could many times their current value if they transform the financial system.“We’re looking at the long-term and so these blips, they don’t faze us,” Emilie Choi, president and chief operating officer of crypto exchange Coinbase Global Inc., said last week on Bloomberg TV about the wild swings prevalent in the market. “You’re looking for the long-term opportunity and you kind of buckle up and go for it.”Seat belts were needed by anyone watching the crypto world in the past eight days. Aside from Musk’s antics that sent Doge and Bitcoin on wild rides, a host of other developments pushed around prices.Tether, the world’s largest stablecoin, disclosed a reserves breakdown that showed a large portion in unspecified commercial paper. Steve Cohen’s Point72 Asset Management announced that it would begin trading cryptocurrencies. And a longstanding critique of the space reared its head again: illicit usage.It was reported that the owners of the Colonial Pipeline paid a $5 million ransom in untraceable digital currencies to hackers that attacked its infrastructure, while Bloomberg also reported that Binance Holdings Ltd., the world’s biggest cryptocurrency exchange, was under investigation by the Justice Department and Internal Revenue Service in relation to possible money-laundering and tax offenses.But, “for many crypto assets such as Bitcoin and Ethereum, the long-term story has not changed,” said Simon Peters, an analyst at multi-asset investment platform eToro. “This emerging asset class continues to revolutionize many aspects of financial services, and while nothing goes up in a straight line, the long-term fundamentals for crypto assets remain as solid as ever.”Bitcoin was already swinging wildly on the weekend before Musk tweeted. The two days tend to be particularly volatile for cryptocurrencies, which -- unlike most traditional assets -- trade around the clock every day of the week. Bitcoin’s average swing on Saturdays and Sundays so far this year comes in at 4.95%.That type of volatility is owing to a few factors: Bitcoin’s held by relatively few people, meaning that price swings can be magnified during low-volume periods. And, the market remains hugely fragmented with dozens of platforms operating under different standards. That means cryptocurrencies lack a centralized market structure akin to that of traditional assets.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Asian shares push higher, dollar eases

    Asian shares rose on Tuesday, shrugging off worries about an increase in regional coronavirus infections and a subdued session on Wall Street, while inflation jitters helped push gold prices to three-month highs. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.06% after a mixed session on Monday, still not recouping losses of the last few weeks amid new clusters of COVID-19 cases that are prompting some economies to impose fresh anti-virus measures. "Markets appear primed to seize on any upside surprises to growth and inflation data as implying a more rapid lift-off from zero rates than the Fed policy makers' own projections indicate," BlackRock investment strategists said in a note.