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Pet Supplements in the US, 9th Edition

Industry Reports, United States

Report Overview

Overriding concerns about pet health and wellness and the central part pets play in the household prompted pet owners to continue spending on pet supplements throughout 2022, driving the market to just over $1 billion, an 11% increase from 2021 and reflecting an 11% CAGR for 2017-2022. Although inflation accounts for much of this dollar advancement, and the growth rate has halved from 2020 and 2021, it remains well above the 4% and 5% rates seen pre-pandemic. Packaged Facts survey results from November 2022 show that nearly half of pet supplements purchasers spent more on supplements in the previous 12 months than in 2021, a positive sign amidst economic uncertainty. Other factors favoring supplement purchasing include a growing reliance on calming/anxiety supplements, the expanding population of senior pets, and a shift towards science-based and veterinarian-formulated supplements. The market outlook for pet supplements remains solid, with U.S. retail sales expected to reach $1.4 billion by 2027.
 

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Packaged Facts’ Pet Supplements in the U.S., 9th Edition provides a detailed examination of how these trends are playing out as marketers seek new ways to make supplements an integral part of pets’ wellness routines. Despite the favorable outlook, pet supplement marketers continue to compete with marketers of functional, condition-specific treats and foods as pet owners seek out ways to address their pets’ nutritional needs in 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 while assuring consumers of product safety and efficacy, and engendering more support among the veterinary community.

Building on the analyses presented in previous editions of this report, this fully updated ninth edition covers historical and projected retail sales from 2017 through 2027, competitive strategies of key players, and trends in new product development including condition-specific formulations, lifestage-focused products, feline supplements, veterinarian-developed products, 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 Packaged Facts’ Surveys of Pet Owners, the report details pet supplement purchasing trends as well as attitudes and demographic characteristics of both conventional and CBD pet supplement purchasers.
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