E-commerce platforms are being used widely across the globe. The increase in penetration of smartphones and the internet, rise in purchasing power of consumers, and convenient shopping experiences provided by online retail platforms are a few of the key factors driving the sales of various products such as pet supplements through e-commerce platforms. People increasingly prefer online retail platforms to buy pet supplements owing to the availability of various products of different brands at affordable prices, detailed product descriptions, consumer ratings and reviews, and home delivery services. During the COVID-19 outbreak, individuals were restricted to their homes, which increased their inclination toward online shopping. For instance, according to the Kerry Group, the e-commerce sales of pet supplements increased substantially from 29% in 2019 to 42% in 2020. With the rising penetration of e-commerce across different geographies, pet supplement manufacturers are enhancing their online presence by selling their products through well-known e-commerce platforms, such as Amazon.com, Lidl, and Walmart. For instance, PetMed Express Inc, the online pet pharmacy, collaborated with Amazon to broaden the sales of pet supplements and offer a substantial price reduction to increase their customer base. Thus, increasing consumer preference for e-commerce platform provides huge opportunity to the manufacturers in the market to offer their products through e-commerce platform and increase their customer base.
The Asia Pacific pet supplements market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. These countries report increasingly high pet populations, which helps boost the demand for pet nutrition, such as pet supplements, across the region. Moreover, developing countries such as China and India have a significant population of pets. According to the National Bureau of Statistics, China has the fastest-growing pet industry in the region. Factors such as increasing disposable income and rising awareness regarding animal health and wellness are also contributing to the growing demand for pet nutritional products, such as pet supplements. Moreover, the high prevalence of zoonotic diseases among pets is increasing the demand for pet supplements. Hookworms in dogs, zoonotic influenza, plague, and Lyme are a few common zoonotic diseases in pets. The consumption of pet supplements prevents the risk of such diseases and provides complete nutrition. Thus, the demand for pet supplements is increasing across the region, which is further projected to fuel the market growth during the forecast period.
Asia Pacific Pet Supplements Market Segmentation
The Asia Pacific pet supplements market is segmented into form, pet type, distribution channel, and country.
Based on form, the Asia Pacific pet supplements market is segmented into chewable, powder, and others. In 2022, the chewable segment registered the largest share in the Asia Pacific pet supplements market.
Based on pet type, the Asia Pacific pet supplements market is segmented into dogs, cats, and others. In 2022, the dogs segment registered the largest share in the Asia Pacific pet supplements market.
Based on distribution channel, the Asia Pacific pet supplements market is bifurcated into online and offline. In 2022, the offline segment registered the larger share in the Asia Pacific pet supplements market.
Based on country, the Asia Pacific pet supplements market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. In 2022, the Rest of Asia Pacific segment registered the largest share in the Asia Pacific pet supplements market.
Dorwest Herbs Ltd, Nordic Naturals, Nutramax Laboratories Consumer Care Inc, Comfort Click Ltd, and Zesty Paw LLC are some of the leading companies operating in the Asia Pacific pet supplements market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 453.83 Million |
| Market Size by 2028 | US$ 674.08 Million |
| CAGR (2022 - 2028) | 6.8% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Form
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Pet Supplements Market is valued at US$ 453.83 Million in 2022, it is projected to reach US$ 674.08 Million by 2028.
As per our report Asia Pacific Pet Supplements Market, the market size is valued at US$ 453.83 Million in 2022, projecting it to reach US$ 674.08 Million by 2028. This translates to a CAGR of approximately 6.8% during the forecast period.
The Asia Pacific Pet Supplements Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Pet Supplements Market report:
The Asia Pacific Pet Supplements Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Pet Supplements Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Pet Supplements Market value chain can benefit from the information contained in a comprehensive market report.
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