"Often mirroring corresponding concerns on the human side of the market, factors related to COVID-19 caused sales of pet supplements to shoot up 21% in 2020 to nearly $800 million, quadrupling the rate of sales growth seen in 2019. Among these factors are the intensified focus on health and wellness, with locked-down pet owners in closer contact with their pets and thus more in tune with their health needs, and the heightened demand for natural remedies offering relief from stress and anxiety, with CBD leaping off the charts among humans and pets alike. Add to this the pandemic-accelerated migration of consumers online, where supplements tend to excel due to their small size/low shipping costs, info-centric nature, need for replenishment, and customizability, and the pandemic- driven influx of new pets into the market among worried and bored American families seeing the comfort, companionship, and diversion pets offer, and the outlook remains solid for the foreseeable future, with U.S. retail sales of pet supplements expected to well exceed $1 billion by 2025.
Pet Supplements in the U.S., 8th Edition is a detailed examination of how the above trends are playing out in the pet supplements market as marketers seek new ways to make supplements an integral part of pets' wellness routines. Despite the favorable outlook, pet supplement marketers continue to contend with marketers of functional, condition-specific treats and foods as pet owners seek out ways to address their pets' nutritional needs in more convenient and pet-pampering formats. Another long-term battle in the largely mature market is how to remain relevant by identifying and utilizing the latest, on-trend ingredients, such as CBD, while still assuring consumers of product safety and efficacy.
Building on the analysis presented in the previous editions of this report, this fully updated eighth edition of Pet Supplements in the U.S. covers historical and projected retail sales from 2015 through 2025, competitive strategies of key players, and trends in new product development such as condition-specific formulations, life stage-focused products, feline supplements, natural/organic supplements, and carry-overs from the human supplements market, as well as retail channel trends. The report provides an in-depth examination of the CBD market, following trends in regulation, consumer perceptions, new product development, and marketing. Featuring exclusive data from the publisher's Surveys of Pet Owners, the report details supplement purchasing trends as well as attitudes and demographic characteristics of both conventional and CBD pet supplement purchasers."
Source: Pet Supplements in the U.S., 8th Edition
Market research from Research and Markets, the world's largest market retail store with clients that include: Petco, PetSmart, PetPlace, PetValu, Halo and Merial.
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