Global Pet Herbal Supplements Market Report 2024: Size, Drivers, And Top Segments
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What is the Expected Growth Rate of the Pet Herbal Supplements Market from 2024 to 2033?
The pet herbal supplements market is expected to grow rapidly, from $0.99 billion in 2023 to $1.12 billion in 2024, with a CAGR of 13.3%. This growth is driven by rising awareness of pet health, the humanization of pets, and consumer preferences for natural products.
The pet herbal supplements market is expected to grow rapidly, projected to reach $1.87 billion in 2028 at a CAGR of 13.7%. This growth is driven by increasing pet ownership, an aging pet population, the expansion of e-commerce, personalized nutrition, and environmental sustainability. Key trends include advanced extraction techniques, applications of nanotechnology, digital health monitoring, AI-driven formulation optimization, and personalized supplements.
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What Key Factors Are Fueling the Growth of the Pet Herbal Supplements Market?
The growing pet expenditure is expected to enhance the pet herbal supplements market. Pet expenditure includes costs for food, supplies, veterinary care, and other services. The rise in spending is driven by the humanization of pets and the demand for premium products. This trend boosts the pet herbal supplements market as owners seek natural health products for their pets. For example, in November 2023, the American Pet Products Association reported U.S. pet industry expenditure reached $147.0 billion in 2023, up from $136.8 billion in 2022. Thus, rising
What Are the Major Segments of the Pet Herbal Supplements Market?
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
What New Trends Are Transforming the Pet Herbal Supplements Market?
Leading companies in the pet herbal supplements market are creating innovative products, such as canine supplements, to gain a competitive advantage. In July 2023, Badlands Ranch, a US pet nutrition brand, introduced Super20, a canine superfood powder designed to enhance overall dog health using natural ingredients like mushrooms and ashwagandha.
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Which Regions Are Driving Growth in 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.
The Pet Herbal Supplements Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the pet herbal supplements market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Pet Herbal Supplements Market Include
1. Pet Herbal Supplements Market Executive Summary
2. Pet Herbal Supplements Market Segments
3. Pet Herbal Supplements Market Size And Template Market Growth Rate
4. Key Pet Herbal Supplements Market Trends
5. Major Pet Herbal Supplements Market Drivers
……
25. Key Mergers And Acquisitions In The Pet Herbal Supplements Market
26. Top Pet Herbal Supplements Companies
27. Pet Herbal Supplements Market Opportunities And Strategies
28. Pet Herbal Supplements Market, Conclusions And Recommendations
29. Appendix
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