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 As per The Business Research Company’s Veterinary Dietary Supplements Global Market Report 2023, 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 veterinary dietary supplements market size is expected to grow to $3.23 billion in 2027 at a CAGR of 9.8%.

What was the major driver in the veterinary dietary supplements market?
The growing population of companion and livestock animals is likely to drive the veterinary dietary supplements market in the coming years. Companion animals include all domesticated animals with easily met physical, emotional, behavioural, and social needs, such as dogs, cats, and other animals, whereas livestock animals are domesticated animals raised in an agricultural setting to provide labour and produce commodities, such as bovines. Veterinary dietary supplements in companion and livestock animals serve to give a high-nutrient diet to suit the animal’s need for optimum growth and development. According to the American Veterinary Medical Association (AVMA), a non-profit organisation based in the United States, around 45% of households will own dogs in November 2021, while 56% will own cats in 2020. Furthermore, according to Eurostat, a Luxembourg-based European Union (EU) statistical office responsible for publishing high-quality Europe-wide statistics, the European Union’s livestock population in 2021 was approximately 142 million pigs, 76 million bovine animals, 60 million sheep, and 11 million goats. As a result, the growing population of companion and livestock animals is propelling the veterinary dietary supplement market forward.

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What was the key trend in the veterinary dietary supplements market?
Product development is an important trend in the veterinary dietary supplement market. To strengthen their market position, major players in the veterinary dietary supplements market are focusing on developing innovative product solutions. For example, in December 2020, SeQuent Scientific Ltd., an India-based veterinary dietary supplement manufacturer, will launch the veterinary medication Halofusol in 19 European nations. The European Medicines Agency (EMA) has approved the product through its Spanish affiliate, Laboratorios Karizoo, S.A. Halofusol is an anti-protozoal solution that is taken orally. The substance has distinct characteristics, such as the prevention and reduction of diarrhoea in newborn calves. The new product is a generic version of Halocur, which has a market value of 10 million euros in the European Union.

Which was the largest region in the veterinary dietary supplements market?
Asia-Pacific was the largest region in the veterinary dietary supplements market in 2022. The regions covered in the veterinary dietary supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Who are the veterinary dietary supplements market prominent players?
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.

Key veterinary dietary supplements market segments
The global veterinary dietary supplements market is segmented –
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)

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The Veterinary Dietary Supplements Global Market Report 2023  provides a comprehensive overview on the veterinary dietary supplements market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

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