Dublin, May 16, 2023 (GLOBE NEWSWIRE) — The “Dog Supplement Market by Source, Application, Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
The global dog supplement market size was valued at $241.6 million in 2021, and is projected to reach $468.5 million by 2031, registering a CAGR of 6.9% from 2022 to 2031.
Key Market Players
- Ark Naturals
- NOW Foods
- Food Science Corporation
- Pet Honesty
- Zesty Paws
- Nestle Purina PetCare
- Bayer AG
- Nutramax Laboratories, Inc
- Compana Pet Brands
Dogs are mostly recognized as domesticated mammals. They are popular pets as they are usually playful, friendly, loyal, and listen to humans. People adopt various species of dogs such as Labrador retrievers, bulldogs, German shepherds, golden retrievers, poodles, and beagle.
The Dog supplement market is expected to witness high growth owing to some of the reasons such as rapid growth of the retail sector and pet shops. Pet supplement is a new and innovative product segment in the pet food industry, which not only requires advertisement for its awareness but also a wide area distribution network.
Rapid increase in the number of large retail stores including supermarkets and hypermarkets in developing economies has enabled easier availability of pet supplements, as these stores help increase sales of organic and conventional pet supplement products. As a result, the demand of the Dog supplement market will soar in the years to come.
The North America dog supplement market had a major share in 2021 and is projected to grow significantly during the forecast period, owing to its significant research and development capabilities and well-developed infrastructure, the area is expected to contribute the most money to the global market during the forecasted period.
North America witnessed the highest share in the dog supplement market in 2021 and is expected to sustain its share during the forecast period. A high number of pet ownership and increase in spending capacity on pet care products, including health care and grooming products are some of the major attributes for growth of the market in this region. Increasing pet humanization, growing trend of nuclear families, and adoption rate of pet especially among the young population are some of the factors have impelled the demand for dog supplements across the North America region.
However, traditional ways of feeding pet animals which would lower global demand. Traditionally, owners fed their cats, dogs, and other pet animals with milk and homemade food, which included leftovers and scraps from family meals. In most developing countries, including India and China, people are not aware of pet food and supplements, and they do not consider it important to take care of their pet animals.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the dog supplement market analysis from 2021 to 2031 to identify the prevailing dog supplement market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the dog supplement market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global dog supplement market trends, key players, market segments, application areas, and market growth strategies.
|No. of Pages||290|
|Forecast Period||2021 – 2031|
|Estimated Market Value (USD) in 2021||$241.6 million|
|Forecasted Market Value (USD) by 2031||$468.5 million|
|Compound Annual Growth Rate||6.8%|
Key Market Segments
- Skin and coat
- Hip and joint
- Prebiotics and probiotics
By Distribution Channel
- sub type
- Supermarket and hypermarket
- Convenience stores
- Specialist retailers
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/wr7aat
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