The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s veterinary dietary supplements market report forecasts the veterinary dietary supplements market size to grow to $3.23 Billion by 2027, with a CAGR (compound annual growth rate) of more 9%.

Learn More On The Veterinary Dietary Supplements Market Report 2023 – https://www.thebusinessresearchcompany.com/report/veterinary-dietary-supplements-global-market-report

Veterinary Dietary Supplements Market Size Forecast
The global veterinary dietary supplements market is expected to grow from $2.03 billion in 2022 to $2.23 billion in 2023 at a compound annual growth rate (CAGR) of 10.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The veterinary dietary supplements market size is expected to grow to $3.23 billion in 2027 at a CAGR of 9.8%.

Asia-Pacific held the largest veterinary dietary supplements market share.

Key Veterinary Dietary Supplements Market Driver ­– Increase In Population Of Companion And Livestock Animals
For instance, in November 2021, according to the American Veterinary Medical Association (AVMA), a US-based non-profit association, approximately 45% of households own dogs, whereas 56% of households are owing cats in 2020. Further, in 2021, according to Eurostat, a Luxembourg-based statistical office of the European Union (EU) responsible for publishing high-quality Europe-wide statistics, the livestock population in the European Union was around 142 million pigs, 76 million bovine animals, 60 million sheep, and 11 million goats. Therefore, the increasing population of companion and livestock animals is driving the growth of the veterinary dietary supplements market.

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Key Veterinary Dietary Supplements Market Trend – Product Innovation
Major companies operating in the veterinary dietary supplements market are concentrating on creating new product solutions to boost their market position. For instance, in December 2020, SeQuent Scientific Ltd., an India-based company operating in veterinary dietary supplements, launched the veterinary medicine Halofusol in 19 European countries. The product recently received approval from the European Medicines Agency (EMA) through its Spanish subsidiary, Laboratorios Karizoo, S.A. Halofusol is an oral anti-protozoal solution. The product has unique features such as the prevention and reduction of diarrhoea in new-born calves. The launched product is a generic version of Halocur with a market size of 10 million euros in the EU.

Veterinary Dietary Supplements Market Segment
1) By Type: Omega 3 Fatty Acids, Proteins and Peptides, CBD, Multivitamins and Minerals, Probiotics and Prebiotics, Other Types (Antioxidants)
2) By Dosage Form: Tablets and Capsules, Gummies and Chewables, Powders, Liquids, Other Dosages (Injectables, Paste)
3) By Distribution Channel: Online or E-commerce, Offline
4) By Application: Joint Health Support, Calming or Stress or Anxiety, Digestive Health, Energy and Electrolytes, Immunity Support, Skin and Coat Health, Other Applications (Kidney, Urinary Tract, Liver, Cardiovascular, Weight Management)

Veterinary Dietary Supplements Market Major Players and Strategies
Major players in the veterinary dietary supplements market are C. H. Boehringer Sohn AG & Co. KG, Virbac, Ark Naturals, Beaphar, FoodScience LLC, Nutri-Pet Research Inc., CEVA Logistics, Canna Companion, NOW Foods, Nestle S.A., Nutramax Laboratories Inc., Orion Corporation, Zydus Animal Health and Investments Limited, Krka d. d. Novo mesto, Animalcare Limited, Ourofino Saúde Animal, and Eco Animal Health Group plc.

In September 2022, Royal DSM, a Netherlands-based company operating in veterinary dietary supplements, acquired Prodap for an undisclosed amount. Through this acquisition, Royal DSM aims to strengthen its portfolio in veterinary dietary supplements and develop digital solutions to reach a more targeted audience with a smarter nutritional decision-making process that uses artificial intelligence and other tools. Prodap is a Brazil-based company operating in veterinary dietary supplements.

The Veterinary Dietary Supplements Global Market Report 2023 covers regional data on veterinary dietary supplements market size, veterinary dietary supplements market trends and drivers, opportunities, strategies, and veterinary dietary supplements market competitor analysis. The countries covered in the veterinary dietary supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Veterinary dietary supplements are highly nutritious animal products containing one or more nutrients or active ingredients such as vitamins, minerals, botanicals (natural products), and others intended to supplement the diet. These are used to supplement the animal diet, which acts as complementary and alternative medicine (CAM) to provide health benefits and well-being for animals.

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