The North America pet supplements market is expected to grow from US$ 893.06 million in 2022 to US$ 1,217.25 million by 2028. It is estimated to grow at a CAGR of 5.3% from 2022 to 2028.
Rising Number of Pet Owners Fuels North America Pet Supplements Market
The North American pet supplements market is thriving, supported by a confluence of economic and lifestyle changes. Growing disposable incomes and a significant increase in pet ownership, particularly among millennials in their early 20s and late 30s, are nurturing a strong affinity for pets. The onset of the COVID-19 pandemic further amplified this trend, as remote work and self-quarantine led many households to welcome animal companions. As there was no evidence indicating pets could spread the virus, they offered valuable mental and emotional support during a challenging period. Concurrently, alongside the rise in pet adoption, there’s a noticeable increase in spending dedicated to pet well-being. This growing consumer expenditure on pet care categories is largely a result of the escalating trend of pet humanization. Customers are increasingly choosing premium, health-conscious, and nutritious options for their pets. A greater emphasis on pet health and wellness is evident, alongside a preference for sustainable and locally/naturally sourced products. Pet owners are also investing in specialized diets and indulgent treats aimed at improving their pets’ quality of life. Pet supplements contribute significantly to this by boosting the immune system and potentially reducing the risk of ailments like heart disease, inflammation, cancer, and diabetes.
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North America Pet Supplements Strategic Insights
Strategic insights for the North America Pet Supplements sector provide a data-driven overview of the industry’s landscape, encompassing current trends, major players, and regional variations. These insights offer practical recommendations, enabling readers to differentiate themselves from competitors by identifying untapped market opportunities or developing unique value propositions. By leveraging data analytics, these insights help industry participants, including investors, manufacturers, and other stakeholders, to anticipate market shifts. A forward-looking perspective is crucial, assisting stakeholders in preparing for market changes and positioning themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
North America Pet Supplements Market Segmentation
North America Pet Supplements Market: By Form
- Chewable
- Powder
North America Pet Supplements Market: By Pet Type
- Dogs
- Cats
North America Pet Supplements Market: By Distribution Channel
- Online
- Offline
North America Pet Supplements Market: Regions and Countries Covered
North America
- US
- Canada
- Mexico
North America Pet Supplements Market: Market leaders and key company profiles
- Arrowleaf Naturals Ltd.
- FoodScience LLC
- Four Paws Inc
- Nordic Naturals Inc
- Nutramax Laboratories Consumer Care Inc
- PetHonesty LLC
- Thorne Vet Inc
- Zesty Paw LLC
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