Most of the time pets are family members, which is why many pet owners purchase supplements to ensure they live long and happy lives. As we become more pet health-conscious, PET-HEALTH SUPPLEMENTS are contributing to not only the health of pets, but that of the U.S. supplement market as well.
Market researcher, TechNavio, points to a bright future for dietary supplements in the global pet-health market. Projection: a CAGR of 5.26% for the global pet-supplements market from the time span of 2016 to 2020 (nutritionaloutlook). Surprised?
Packaged Facts reported that from 2012-2016, pet supplement sales reached a CAGR of nearly 4%, with sales of U.S. $580 million in 2016 (nutritionaloutlook). Impressive, I know.
What’s causing this growth?
- The simple fact that people want to ensure a healthy life for their pet
- The increasing number of patents in the ingredients marketplace as pet-health dietary supplement manufacturers formulate better products
- Onset of age-related health issues in pets that can lead to disorders
- Consumers educated on human supplements extends to being educated on animal supplements
Obese pets are in peril of a damaged heart, damaged ligaments and joints, and a damaged digestive system, to name a few. Supplements have the chance to get to work before this damage occurs
Ingredients Gaining Traction
Bill Bookout, founder and CEO of the National Animal Supplement Council (NASC), a nonprofit trade association dedicated to improving the health of companion animals, claims “the pet market is split approximately 50% dog and cat, and 50% for horses” (petfoodindustry).
Bookout foresees more attention in the following ingredients among pet supplements:
These ingredients are popular in the market for supplements and nutraceutical treats for cats, dogs, and horses. Omega fatty acids are popular when it comes to seasonal allergies, itchy and flaky skin, skin and coat health, as well as unwanted or extreme shedding. Omega fatty acids and biotin is a combination often used to foster healthy horse hooves. Bookout also thinks probiotics and weight-management ingredients will gain popularity “to help address obesity- and health-related issues for pets” (nutritionaloutlook).
A Chance for Supplements To Slay
1. Weight Management
Weight management is a pet health condition of which pet owners are growing more aware and on which they want to be educated in order to keep their pets healthy. Obese pets are in peril of a damaged heart, damaged ligaments and joints, and a damaged digestive system, to name a few. Supplements have the chance to get to work before this damage occurs (nutritionaloutlook).
2. Joint Health
In 2015, “the joint-health category represented a whopping 39% share of the pet-supplements market, according to TechNavio’s market research report, and is forecasted to grow further” (nutritionaloutlook).
The demand for gastrointestinal pet health supplements is growing right along with the human gastrointestinal health market. Products comprising digestive enzymes, prebiotics, and probiotics, among other ingredients can support the digestive health of pets, balancing good and bad bacteria levels—just as they do in humans (nutritionaloutlook).
Packaged Facts survey data unveiled that both digestive and joint health pet food supplements top the list of supplement types most frequently purchased. Moreover, pet owners are seeking out supplements to support cognitive health, heart health, and skin/coat health. Here lies the opportunity for “condition-specific products to compete with similarly formulated pet foods and pet treats” (petfoodindustry).
While hairball control supplements remain in high demand, marketers have started targeting other conditions specific to cats. This means focusing more on “the other companion animal” that does not always get as much attention as the dog (petfoodindustry).
A common roadblock for pet owners is finding a way to get their pets to actually ingest the supplement. Disguising supplement products by wrapping them in cheese or smearing on peanut butter are two nuisances that will soon be unnecessary, as supplement makers are developing functional treats. That includes exploring alternative forms such as chews and finding other ways to make supplements easier for pets to take (petfoodindustry). These innovations are paving the way for a bright future of the pet food supplement market AND pet health for years to come.