Market to Surge at a CAGR of 10.53% to 2034, Driven by High Demand for Multivitamins and Herbal CBD Supplements and Chewables

Global Pet Herbal Supplements Market

Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) — The report “Global Pet Herbal Supplements Market Analysis and Forecast to 2024-2034” has been added to ResearchAndMarkets.com’s offering.

Global Pet Herbal Supplements shows projected growth with an estimated increase from USD 0.893 billion in 2023 to an expected USD 2.69 billion by 2034, exhibiting a Compound Annual Growth Rate (CAGR) of 10.53% during the forecast period .

A strategic shift towards natural and herbal pet care solutions is fueling market expansion as pet owners increasingly opt for organic and holistic approaches to their pet’s well-being animal

This trend is further fueled by increased pet spending, an aging pet population that requires a focus on preventive healthcare, and the launch of innovative, natural ingredient-based supplements tailored to pet needs. Market players are collaborating and developing a wider range of herbal supplement offerings, catering to the growing demographic of health-conscious pet parents.

High Demand for Multivitamins and Herbal CBD Supplements Driving Market Growth

A product-wise analysis in the pet herbal supplements domain indicates that multivitamins and minerals will hold the largest market share in 2023. This is primarily due to pet owners being proactive in including these supplements in diets of the pet for improved health and immunity. At the same time, exciting steps have been observed in the CBD supplement niche, which is expected to grow at the fastest rate, as pet owners look for herbal calming and wellness solutions for their furry companions.

Chewables Are Gaining Popularity Among Different Dosage Forms

In terms of dosage form, gummies and chewables emerged as the most preferred options for pet supplements. With ease of administration and higher palatability, chewable supplements have surpassed traditional formats such as tablets and capsules. However, other innovative dosage forms such as jellies, gels, and sprinkles are expected to show rapid growth, due to their ease of mixing into pet foods and beverages.

The story continues

Leading Application Segment is Digestive Support

Digestive support remains a major focus for pet owners, driving a large share of market revenue in this vertical. Herbal supplements are widely recognized for their effectiveness in promoting gastrointestinal health. At the same time, there is a predicted increase in energy-boosting herbal supplements for working and active dogs, highlighting diverse application sectors within the market.

Dogs Lead the Animal Type Segment in the Pet Herbal Supplements Market

Dogs continue to command a large share of the market by breed, with cats following closely behind due to an increase in cat adoptions and an increased focus on cat health. Dog owners are particularly vigilant about the health of their pets, leading to an increase in special supplements for longevity and metabolism.

Offline Distribution Channels Dominate, Online Poised for Rapid Growth

While offline channels, such as pet specialty outlets and retail stores, remain popular for pet supplement purchases, a marked trend towards online shopping can be seen, with the latter expected to witness exponential growth trajectory in the coming years. Omnichannel offerings and ecommerce expansion by traditional retailers are aligning with consumer preferences for convenience and accessibility.

Regionally, North America remains a central hub, home to major market players and a steady trend of pet humanization. This region is complemented by Asia Pacific, which is set to experience the fastest growth in the region due to increasing pet population, increasing awareness about pet health, and an influx of new product launches that address the needs of local clients.

Key Features:

Company Profiles

Segmentation: Pet Herbal Supplements Market Report 2023 – 2034

Pet Herbal Supplements Market Analysis and Forecast by Product 2023 – 2034 (Revenue USD Bn)

• Multivitamins and Minerals

• Probiotics and Prebiotics

• Omega 3 Fatty Acids

• Proteins and Peptides

• CBD

• The others

Pet Herbal Supplements Market Analysis and Forecast by Dosage Form 2023 – 2034 (Revenue USD Bn)

• Gummies and Chewables

• Tablets and Capsules

• Liquids

• Powders

• The others

• Gels

• jelly

• Sprinkle Formulations

Pet Herbal Supplements Market Analysis and Forecast by Application 2023 – 2034 (Revenue USD Bn)

• Skin and coat

• Integrated Health Support

• Digestive Support

• Immunity Support

• Respiratory Health

• Liver Health

• Kidney Health

• Calming/Stress/Anxiety

• The others

• Growth Promoters

• Energy and Electrolytes

• The others

Pet Herbal Supplements Market Analysis and Forecast by Animal Type 2023 – 2034 (Revenue USD Bn)

Pet Herbal Supplements Market Analysis and Forecast by Distribution Channel 2023 – 2034 (Revenue USD Bn)

• Online

• Offline

• Retail

• Specialty Pet Stores

• The others

Pet Herbal Supplements Market Analysis and Forecast by Region 2023 – 2034 (Revenue USD Bn)

• North America

• US

• Canada

• Europe

• Germany

• France

• UK

• Spain

• Italy

• Other parts of Europe

• Asia-Pacific

• China

• Japanese

• India

• Australia

• South Korea

• Other parts of APAC

• Latin America

• Brazil

• Mexico

• Argentina

• Remaining in LATAM

• Middle East and Africa

• South Africa

• GCC

• Remaining in MEA

For more information about this report visit https://www.researchandmarkets.com/r/nrclv

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