Global Pet Dietary Supplements Market 2018-2022
About pet dietary supplements
pet dietary supplements are essential substances for oral consumption by pets and can be included as a part of their feed or administered separately. Pet owners opt for dietary supplements for their pets to ensure a nutritionally balanced diet or as a preventive measure for health conditions associated with aging.
Technavio’s analysts forecast the global pet dietary supplements market to grow at a CAGR of 5.30% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global pet dietary supplements market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of pet dietary supplements.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Pet Dietary Supplements Market 2018-2022
Technavio recognizes the following companies as the key players in the global pet dietary supplements market: Nutramax Laboratories , NOW Foods, FOODSCIENCE CORPORATION, Only Natural Pet, Beaphar
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing trend toward organic pet dietary supplements. Organic labelling on pet care products often attract pet owners who check the labelling before purchasing any product for themselves or their pets. Thus, currently many players have started manufacturing organic pet dietary supplements. For instance, BIXBI is selling pet supplements like BIXBI IMMUNITY, BIXBI SKIN & COAT, BIXBI DIGESTION, and others, which are USDA ORGANIC certified and recommended for both dog and cats”
According to the report, one of the major drivers for this market is Pet humanization. Pet humanization refers to the consideration of the physical and emotional needs of pets and treating them as a part of the family. Many people treat their pets like a family member and are willing to spend a little extra on good quality food, health, and hygiene needs.
Further, the report states that one of the major factors hindering the growth of this market is Concerns regarding potential risks associated with pet dietary supplements. The increased use of pet dietary supplements has raised several concerns regarding the safety of specific pet dietary supplements. These issues are associated with the general approaches taken to determine the safety of pet dietary supplements, the monitoring of side-effects, and the state of the regulation of pet dietary supplements.
Nutramax Laboratories , NOW Foods, FOODSCIENCE CORPORATION, Only Natural Pet, Beaphar