The global pet skin and coat health market value is estimated to total USD 450.6 million in 2024 and USD 1,245.3 million by 2034. Global sales are projected to surge at a CAGR of 10.7% throughout the forecast period.
Several factors are expected to stimulate the growth of the pet skin and coat health supplement market over the next ten years. One such factor is the rising pet population globally. Similarly, a spike in pet diseases and an increasing pet humanization trend are set to propel demand through 2034.
Rising disposable income around the world is leading to spending capacity on pet-related products, including supplements that target pet skin and coat health. This is likely to provide a strong thrust to industry growth.
Pet owners are becoming aware of the importance of supplements on pet health and appearance. This is directing them to spend heavily on pet care products, including pet skin and coat health products.
Many people are treating pets as members of the family, leading to increasing emphasis on their health and well-being. This includes a willingness to spend on pet skin and coat supplements, leading to market growth.
Leading players are focusing on creating new formulations with natural ingredients. Subsequently, they are using effective marketing techniques to attract customers, leading to further industry development.
Companies are investing in research and development to create effective supplements sourced from natural ingredients. Owing to out-of-the-box marketing techniques such as converting pets from just animals to family members point to significant growth for the pet skin and coat health supplement industry.
Key Takeaways from the Pet Skin and Coat Health Supplement Market Study:
- The global market is projected to total USD 1,245.3 million by 2034.
- Based on form, chewables category is poised to advance at a CAGR of 4% through 2034.
- By availability, OTC segment is set to account for a value share of 2% in 2024.
- Sales in the United States are likely to total USD 389.8 million by 2034.
- China is forecast to record a 1% CAGR between 2024 and 2034.
“Companies which will introduce effective marketing strategies targeting the pet owners with interesting ingredients for supplements will be the winners of the market”, says a lead analyst at Future Market Insights (FMI).
Who is Winning?
WagWell Allergy & Itch Chews, iHeartDogs, PetNC Natural Care, Vet’s Best, Pet Parents USA, and Lloyd & Lucy’s are a few of the leading manufacturers and suppliers of pet skin and coat health supplements listed in the report.
Key players are constantly focusing on launching new products with natural ingredients to meet evolving consumer needs. Similarly, strategies like partnerships, acquisitions, and distribution agreements are becoming popular among companies.
Industry Update:
In 2023, United States-based Badlands Ranch launched ‘Super20’, a new multi-benefit that supports the well-being of dogs.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides a thorough, detailed and unbiased analysis of the global pet skin and coat health supplement market, presenting historical demand data for the years 2019 to 2023 and forecast statistics for the years 2024 to 2034.
The study provides compelling industry insights based on pet type (dog, cat, and others), form (pill/tablet, chewables, powder, liquid/syrup, paste/gel, and others), availability (prescription-based and over-the-counter (OTC)), and sales channels (store-based retailing (hypermarkets/supermarkets, convenience stores, pet stores, discounters, independent grocery retailers, drugstores) and online retailers (company website, e-commerce platform, hyperlocal delivery)) across several regions.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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