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What key factors are powering the surge in the pet herbal supplements market right now?

In the past few years, the pet herbal supplements market has seen significant expansion. It is projected to increase from $1.12 billion in 2024 to $1.27 billion in 2025 with a compound annual growth rate (CAGR) of 14.0%. The past growth in this sector can be linked to rising knowledge of pet health, the humanization of pets, suggestions from veterinarians, regulatory assistance, and the tendency of consumers to choose natural products.

How fast Is the pet herbal supplements market expected to grow, and what’s its future value?

The market size for pet herbal supplements is predicted to exhibit swift expansion in the coming years. The market value is pegged to increase to $2.12 billion by 2029, with a compound annual growth rate (CAGR) of 13.7%. Factors contributing to the forecasted growth include persistent increase in pet ownership, older pet demographic, development in e-commerce, customized nutrition provisions, and focus on environmental sustainability. The future period is expected to see significant trends such as sophisticated extraction methods, the use of nanotechnology, digital tools for tracking health, optimization of formulations driven by artificial intelligence, and tailor-made supplements.

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What are the leading drivers of growth in the pet herbal supplements market?

The pet herbal supplements market is predicted to expand due to the escalating costs associated with pet-keeping. This expenditure involves money spent on food, accessories, medications, veterinary services, live pets acquisition, as well as other associated services. Factors such as people treating pets more like humans, splurging on premium products and services, and improvements in animal healthcare demanding expensive therapies, are driving the surge in pet spending. This surge is, in turn, enhancing the pet herbal supplements market, as pet owners are increasingly opting for natural, superior health products to guarantee their pets’ health and longevity. For instance, a report by the American Pet Products Association, Inc., a non-profit industry association based in the U.S., stated that the U.S. pet industry spending rose to $147.0 billion in November 2023 from $136.8 billion in 2022. Hence, the escalating pet expenditure is fueling the growth of the pet herbal supplements market.

What are the key segments defining the pet herbal supplements market?

The pet herbal supplements market covered in this report is segmented –

1) By Product: Omega 3 Fatty Acids, Probiotics And Prebiotics, Multivitamins And Minerals, Cannabidiol Oil (CBD), Proteins And Peptides, Other Products

2) By Dosage Form: Tablets And Capsules, Gummies And Chewable, Powders, Liquids, Other Dosage Forms

3) By Animal Type: Dogs, Cats, Horses, Other Animals

4) By Application: Digestive Support, Immunity Support, Skin And Coat, Calming Or Stress Or Anxiety, Joint Health Support, Kidney Health, Liver Health, Respiratory Health, Other Applications

5) By Distribution Channel: Online, Offline

Subsegments:

1) By Omega 3 Fatty Acids: Fish Oil Supplements, Algal Oil Supplements

2) By Probiotics And Prebiotics: Digestive Health Supplements, Gut Health Probiotic Powders

3) By Multivitamins And Minerals: Daily Multivitamins, Mineral Supplements For Pet Health

4) By Cannabidiol Oil (CBD): CBD Oil For Anxiety And Pain Relief, CBD Treats And Chews

5) By Proteins And Peptides: Protein Powders, Amino Acid Supplements

6) By Other Products: Herbal Extracts, Antioxidant Supplements, Joint Health Supplements

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Who are the key players steering the development of the pet herbal supplements market?

Major companies operating in the pet herbal supplements market are Merck & Co. Inc., C.H. Boehringer Sohn AG & Co. KG, Zoetis Inc., Elanco Animal Health Incorporated, Virbac, Dechra Pharmaceuticals plc, Vetoquinol, Nutramax Laboratories, Nulo Pet Food, Ceva Animal Health, Healthy Paws Herbal Labs, Zesty Paws, PetHonesty, Only Natural Pet, Petlab Co., Honest Paws, Vet’s Best Friend, Ark Naturals, Herbsmith, NaturVet, Vital Pet Life, Paw Naturals

What key trends are currently impacting the pet herbal supplements market’s development?

Leading firms in the pet herbal supplements market are aiming to gain a competitive advantage by creating unique products, including canine supplements, to cater to customer needs more effectively. Canine supplements are either over-the-counter or prescribed items that offer extra vitamins, minerals, enzymes, amino acids, and herbs to combat various dog health problems including skin ailments, joint issues, and general health. For example, in July 2023, Badlands Ranch, a prominent pet nutrition brand in the US, introduced Super20, a superfood supplement for dogs intended to boost overall health. The comprehensive supplement is made from natural ingredients like mushrooms, milk thistle, and ashwagandha, intended to enhance energy, mobility, fur health, mood, and digestion. It tackles common issues like joint discomfort, gut health, stress management, and immunity, offering a simple solution to improve the quality of life for cherished pets.

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Which regions are most influential in expanding the pet herbal supplements market?

North America was the largest region in the pet herbal supplements market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pet herbal supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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