Overview Of The Veterinary Dietary Supplements Market 2024-2033: Growth And Major Players Analysis
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The veterinary dietary supplements market has witnessed remarkable growth in recent years, attributed to factors such as increased pet ownership, rising awareness of pet health issues, and advancements in pet nutrition science. As the market continues to expand, new trends and developments are reshaping the landscape of veterinary care.
Population Growth of Companion and Livestock Animals Driving Market Surge:
- The rise in the population of companion and livestock animals globally is a primary driver of the veterinary dietary supplements market.
- Veterinary dietary supplements play a crucial role in providing essential nutrients for the proper growth and development of companion and livestock animals.
- Companies like Virbac, Nestle S.A., and Dechra Pharmaceuticals PLC are key players addressing the nutritional needs of animals.
Launch of Veterinary Dietary Supplements Reinforces Market Dynamics:
- Major companies in the veterinary dietary supplements market are focusing on launching innovative products to meet evolving consumer demands.
- Native Pet’s launch of “The Daily” in October 2023 underscores the industry’s commitment to providing comprehensive and science-backed solutions for pet health and wellness.
- “The Daily” serves as an all-in-one supplement supporting various aspects of a dog’s health, including energy, skin, coat, mobility, and gut health.
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Royal DSM Expands Portfolio Through Prodap Acquisition:
- Royal DSM’s acquisition of Prodap in September 2022 represents a strategic move to bolster its presence in the veterinary dietary supplements market.
- With Prodap’s expertise and digital solutions, Royal DSM aims to enhance its portfolio and leverage artificial intelligence for smarter nutritional decision-making.
- This acquisition reflects the growing importance of technology and innovation in meeting the evolving needs of the veterinary dietary supplements market.
Market Segmentation: The veterinary dietary supplements market is segmented based on several criteria:
- Type: Omega 3 Fatty Acids, Proteins and Peptides, CBD, Multivitamins and Minerals, Probiotics and Prebiotics, Other Types (Antioxidants)
- Dosage Form: Tablets and Capsules, Gummies and Chewables, Powders, Liquids, Other Dosages (Injectables, Paste)
- Distribution Channel: Online or E-commerce, Offline
- 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)
- Asia-Pacific emerged as the largest region in the veterinary dietary supplements market in 2023, driven by the growing pet population and increasing awareness of pet health issues.
- The region’s expanding middle-class population and rising disposable incomes contribute to the market’s growth trajectory.
Future Outlook and Trends: The veterinary dietary supplements market is poised for rapid growth, reaching $2.43 billion in 2024 and $3.67 billion by 2028, with a CAGR of 10.9%.
- Trends include the use of natural and organic ingredients, expansion of distribution channels, and research and development in animal nutrition.
- Joint health supplements for aging pets, regulatory compliance, and partnerships for innovation will shape the future of the market.
Conclusion: The veterinary dietary supplements market continues to evolve, driven by population growth of companion and livestock animals, innovative product launches, and strategic acquisitions. As the demand for holistic pet care solutions increases, stakeholders must prioritize research and development, regulatory compliance, and technological advancements to meet evolving consumer expectations. By embracing innovation and collaboration, the veterinary dietary supplements market can foster healthier outcomes for animals worldwide while addressing emerging challenges in pet nutrition and wellness.
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