Published Date: 2-Nov-2021
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According to a new report Global Pet Supplements Market, published by KBV research, The Global Pet Supplements Market size is expected to reach $2.1 billion by 2027, rising at a market growth of 6.3% CAGR during the forecast period.
The Offline market dominated the Global Pet Supplements Market by Distribution Channel in 2020. The Online market is expected to witness a CAGR of 6.7% during (2021 - 2027). The customers are encouraged to choose an online mode of shopping due to its benefits such as the accessibility of a broad range of global brands, free delivery, high discounts, and easy return policies. Online shops provide various products at varied rates, hence making it simpler to fulfill the requirements of various customers, mainly having budget constraints.
The dogs segment obtained the maximum revenue share of the global market in 2020. Dogs are the most loved pets in the world due to the massive adoption rate among households. As per the National Pet Owners Survey of the American Pet Products Association, 63.4 million households in the US own a dog, with an average expenditure of USD 58 every year on dog vitamins.
North America emerged as the leading region in the global pet supplement market by obtaining the maximum revenue share in 2020. Factors such as higher awareness among the pet owners regarding several health hazards, an increasing number of pet owners, and a surge in the concerns over the wellbeing of pets are responsible for the growth of the regional pet supplement market.
Full Report: https://www.kbvresearch.com/pet-supplements-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Dechra Pharmaceuticals PLC, Nestle S.A., Elanco Animal Health, Inc., Zoetis, Inc., Nutramax Laboratories, Inc., NOW Foods, Inc., Ark Naturals, Kemin Industries, Inc., FoodScience Corporation (Wind Point Partners), and Honest Paws, LLC.
By Distribution Channel
By Pet Type
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