- Private sector plays a crucial role in the improvement of animal health owing to government initiatives providing interest-free, long-term loans
- Due to a surge in adoption of pet animals by households and considerable animal healthcare spending in Europe, the veterinary supplements market in Europe is expected to witness rapid growth
ALBANY, N.Y., Oct. 13, 2021 /PRNewswire/ -- Veterinary supplements refer to products such as pills and capsules that address nutritional deficiencies in animals. Increased disposable income, along with rising pet adoption is likely to drive the global veterinary supplements market in the years to come. In the recent years, the number of pet owners has risen dramatically throughout the world.
As livestock keepers and pet owners are becoming more aware of optimal animal health, manufacturers are seeing a surge in the demand for veterinary supplements. Producers of veterinary supplements, on the other hand, must address the problem of big, unregulated products proliferating in retail outlets and shops. As a result, producers are strengthening their packaging, branding, television advertising, and marketing tactics in order to raise awareness about unregulated products in the market.
The global veterinary supplements market is expected to grow at a CAGR of 6.5% during the forecast period, from 2021 and 2031. eCommerce and Internet sales are assisting veterinary supplement companies in expanding their income prospects. The necessary inclusion of minerals and vitamins in supplements to promote the health and welfare of dogs is becoming widely recognized.
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Key Findings of Market Report
- Veterinarians and Nutritionists Collaborate to Produce Natural Veterinary Supplements
The veterinary supplement industry is expanding as people become more conscious of flexitarian diets, environment-friendly packaging, and recycled materials. Purina beyond Nature's Protein, which blends insect protein with plant protein from millet and fava beans, as well as chicken, has grown in popularity as a way to satisfy the nutritional needs of cats and dogs. Nutritionists and veterinarians are collaborating to create natural veterinary supplements, which is likely to fuel entrepreneurship culture in the global veterinary supplement market.
Since pet owners are becoming more environmentally concerned, the trend of sustainable packaging is rapidly expanding.For the packaging of wet pet food, makers are turning to recyclable flexible pouches. Pet food with nutritious supplements is now available through smartphone applications, which are being downloaded by users.
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The market environment is changing dramatically as a result of natural ingredient-powered nutritional supplements. Manufacturers are now developing dietary supplements for home-cooked meals. Integrative Veterinary Innovations, a veterinary supplement company, is collaborating with board-certified medical physicians to capitalize on income potential in animal nutrition.
Natural supplements are becoming increasingly popular. Manufacturers are developing new supplements for pets that contain low-phosphorous protein sources and natural calcium.Due to difficulties with kidney disease and other health disorders in dogs, such supplements are becoming a viable option to high-protein or phosphorous-restricted diets. Red algae and maerl, which are responsibly gathered from cold waters of Iceland's shore, are used in the development of natural supplements.
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Veterinary Supplements Market: Growth Drivers
- The global veterinary supplements market is being pushed by a growing knowledge among pet owners about need of shunning unhealthy pet food products and preference for products that contain prebiotics. Demand for pet dietary supplements is predicted to rise, as they become more widely available in retail outlets, boosting market development.
- Makers of veterinary supplements are increasing their ability to produce vitamin tonics that aid in the enhancement of egg production in layers.Manufacturers, on the other hand, are developing vitamin A supplements for sheep, goats, and cows. They are ramping up the production of energy tonics that support fertility and growth of bones.
Veterinary Supplements Market: Key Competitors
Some of the key market players are
- General Mills Inc.
- Nestlé Group
- Diamond Pet Foods Inc
- Nutri-Vet, LLC
- Mars, Incorporated
- P.S. Healthcare
Veterinary Supplements Market: Segmentation
Supplement Type
- Antioxidants
- Vitamins
- Proteins/Amino Acids
- Enzymes
- Probiotics
- Essential Fatty Acids
Application/Benefit area
- Immunity
- Skin/Coat
- Joint Health/Mobility
Animal Type
- Companion Animals
- Livestock
Distribution Channel
- Veterinary Hospitals & Clinics
- Retail Channels
- Online Channels
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
Veterinary Radiography System Market: Digital X-ray systems offer value for money to veterinarians in the veterinary radiography system market, since they play an important role in reducing administrative efforts and are time-efficient. These systems are being combined with veterinary management systems to help veterinarians gain access to a plethora of patient records and retrieve images from the archive.
Veterinary Therapeutics Market: Some of the major factors that are likely to propel the market growth include growing demand for improved drugs, rise in the number of companion animals worldwide, improvements in surgical and medical capabilities of treatments for companion animals, development of products to combat new diseases, and growing emphasis on wellness and prevention of diseases in animals.
Veterinary Endoscopes Market: A rise in pet population with gastrointestinal problem are more willing to undergo endoscopies surgeries and diagnosis at veterinary hospitals and clinic. This is expected to increase the number of endoscopy procedures thus propelling growth of the veterinary endoscopes market.
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