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The global veterinary dietary supplements market size was USD 1.87 Billion in 2022 and is expected to register a revenue CAGR of 8% during the forecast period.

NEW YORK, NY, UNITED STATES, April 23, 2023 /EINPresswire.com/ -- The Global Veterinary Dietary Supplements Market is projected to experience rapid revenue growth with an 8% CAGR during the forecast period, having a size of USD 1.87 billion in 2022. The driving forces behind this growth are the increasing need to prevent, mitigate, or treat diseases in companion and livestock animals, as well as the expanding pet population and humanization. Pet owners are now more aware of the importance of nutrition for their pets and are seeking ways to maintain their health and activity levels, resulting in increased use of dietary supplements.

Furthermore, the rising demand for nutraceuticals and functional foods, as well as the increasing pet ownership globally, particularly in developing countries, is expected to boost the market's revenue growth. The market is also being driven by the growing demand for specific supplements that aid in managing pet obesity and chronic diseases such as arthritis, cancer, and diabetes. The market's revenue growth is being propelled by the rise of preventive healthcare and the availability of a range of pet nutrition programs and products that are tailored to each pet's specific needs.

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However, the market's revenue growth could be hampered by high prices for regular and premiumized supplements, as well as limited availability of organic supplements due to increasing consumer preference for organic products.

Segments Covered in the Report:

Animal nutrition is a critical component of ensuring the health and well-being of our furry and feathered friends. The global animal nutrition market is categorized based on various factors such as animal type, ingredient type, and distribution channel. One of the significant animal types in the animal nutrition market is Companion Animals. These animals, including cats, dogs, and birds, are popular pets that have become integral members of families worldwide. Companion animal food products are made up of a variety of high-quality proteins, carbohydrates, and fats, providing the necessary nutrients to maintain good health and energy levels.

Another animal type in the animal nutrition market is Livestock Animals. These animals include cows, pigs, sheep, and poultry that are used for food production. The nutrition requirements for livestock animals differ depending on the stage of growth or production. The appropriate balance of protein, carbohydrates, and fats in their diet is essential for optimal performance. The animal nutrition market is also categorized by ingredient type, including Vitamins, Minerals, Amino Acids, Enzymes, and Others. Vitamins and minerals are essential for the overall growth, health, and metabolic functions of animals. Amino acids, on the other hand, are building blocks of protein, essential for muscle growth and repair. Enzymes are crucial in breaking down complex molecules, allowing for optimal nutrient absorption, while other ingredients such as probiotics and antioxidants help improve the immune system and reduce stress levels.

The distribution channel outlook for the animal nutrition market includes Veterinary Hospitals, Online Pharmacies, and Retail Pharmacies. Veterinary hospitals provide a one-stop-shop for all animal care needs, including nutritional products. Online pharmacies have become increasingly popular, providing convenient access to animal nutritional products, while retail pharmacies offer easy access to over-the-counter products. In conclusion, the animal nutrition market is diverse and continually evolving to meet the unique needs of different animal types. It is essential to provide animals with a balanced diet that includes the necessary nutrients for optimal health and performance. As a result, animal nutrition products are readily available through various distribution channels, making it easier for pet owners and farmers to access the products they need to keep their animals healthy and happy.

Strategic Development:

In terms of strategic development, Bayer AG acquired Asklepios Bio Pharmaceutical on 27 October 2020. Asklepios Bio Pharmaceutical focuses on gene therapies for both human and animal health. This acquisition will enable Bayer AG to expand its product range in the animal health market.

Similarly, on 1 April 2020, Nestle Purina PetCare acquired Lily's Kitchen, a premium company that offers natural pet food. This acquisition will enable Nestle Purina PetCare to increase its range of products in the pet food and dietary supplement markets.

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Competitive Landscape:

The global veterinary dietary supplements market is highly competitive, with a few dominant players accounting for a significant share of the market. The major companies in this space are Nestle Purina PetCare, Bayer AG, Zoetis Inc., Nutramax Laboratories Veterinary Sciences, Inc., Virbac, VetriScience Laboratories, VetIQ, Ark Naturals, Only Natural Pet, and Dechra Pharmaceuticals PLC. Nestle Purina PetCare, a subsidiary of Nestle SA, is a leading player in the global veterinary dietary supplements market. The company offers a wide range of pet food products and supplements under the Purina brand, including Purina Pro Plan Veterinary Diets and Purina Veterinary Diets. The company's research and development capabilities have helped it maintain its dominant position in the market.

Bayer AG is another major player in the global veterinary dietary supplements market. The company's Animal Health division offers a range of veterinary products, including supplements, vaccines, and pharmaceuticals. The company has a strong global presence and is focused on expanding its product portfolio to maintain its competitive edge. Zoetis Inc. is a leading animal health company that offers a range of products, including dietary supplements, vaccines, and pharmaceuticals. The company has a strong focus on research and development, and its innovative products have helped it maintain its position as a key player in the market.

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In conclusion, the global veterinary dietary supplements market is highly competitive, with a few major players dominating the market. These companies have strong research and development capabilities and are focused on expanding their product portfolios to maintain their competitive edge in the market.

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