In recent years, increasing disposable income and growing interest of millennials, especially adults in their early 20s and late 30s, for pet adoption are supporting the pet culture across the globe. In addition, due to the onset of the COVID-19 pandemic, people were working from home and self-isolating; this change in lifestyle inspired households to own pets. Since there was no evidence that pets could contribute to the spread of COVID-19, people felt safe with an animal companion that provided mental and emotional support during the pandemic. Along with increasing pet adoption, it has been observed that there is an increasing spending on pets for their wellbeing. Increasing consumer spending on pet care categories is attributed to the growing trend of pet humanization. Customers are increasing spending on premium pet food and products that are healthy and nutritious. There is a growing focus on pet health and wellness, sustainable products, and natural and locally sourced ingredients. Pet owners are also investing in special pet diets and indulgent products, which offer a better quality of life to their pets. Pet supplements help to improve the immune system and reduce the risk of heart disease, inflammation, cancer, and diabetes. In addition, these supplements also help to improve skin health and enhance the ability to reduce common health problems such as itchy skin, environmental allergies, and bacterial infection. Thus, rising number of pet owners globally is boosting the demand for pet supplements.
The Europe pet supplements market is sub segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Pet ownership is increasing in these countries. According to the European Pet Food Industry Federation (FEDIAF), Russia has the largest cat population among all European countries, followed by Germany and France. It also has the largest dog population, followed by the UK and Germany. Pet owners treat pets like their family members. According to the 2021 report by FEDIAF, 90 million households in Europe, i.e., ~46% of households, own a pet. With growing pet ownership in Europe, FEDIAF found that pet owners spent more than US$ 20.3 billion on pet nutrition, supplies, and services in 2021. According to the findings of the federation, the pet food industry was worth US$ 28.1 billion in 2021; it recorded a growth of 3.1% in 2021 compared to 2020. Hence, pet nutrition manufacturers are offering premium nutritional supplements in response to the rise in the parenting of pets.
Further, increasing consciousness about pet health influenced European pet owners to shift toward nutraceutical food. Supplements are used as alternatives to drugs by the veterinary community. Adding active ingredients based on intended functionality makes supplements therapeutic, and a healthy form of pet treats. Further, specialist products, including products focusing on specific health benefits, continue to be popular; hence, the demand for such products is rising across the region.
Europe Pet Supplements Market Segmentation
The Europe pet supplements market is segmented into form, pet type, distribution channel, and country.
Based on form, the Europe pet supplements market is segmented into chewable, powder, and others. In 2022, the chewable segment registered the largest share in the Europe pet supplements market.
Based on pet type, the Europe pet supplements market is segmented into dogs, cats, and others. In 2022, the dogs segment registered the largest share in the Europe pet supplements market.
Based on distribution channel, the Europe pet supplements market is bifurcated into online and offline. In 2022, the offline segment registered the larger share in the Europe pet supplements market.
Based on country, the Europe pet supplements market is segmented into the Germany, the UK, France, Italy, Russia, and the Rest of Europe. In 2022, the Rest of Europe segment registered the largest share in the Europe pet supplements market.
Dorwest Herbs Ltd, Nordic Naturals, Nutramax Laboratories Consumer Care Inc, and Comfort Click Ltd are some of the leading companies operating in the Europe pet supplements market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 617.43 Million |
| Market Size by 2028 | US$ 873.49 Million |
| CAGR (2022 - 2028) | 6.0% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Form
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Pet Supplements Market is valued at US$ 617.43 Million in 2022, it is projected to reach US$ 873.49 Million by 2028.
As per our report Europe Pet Supplements Market, the market size is valued at US$ 617.43 Million in 2022, projecting it to reach US$ 873.49 Million by 2028. This translates to a CAGR of approximately 6.0% during the forecast period.
The Europe 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 Europe Pet Supplements Market report:
The Europe Pet Supplements Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Pet Supplements Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Pet Supplements Market value chain can benefit from the information contained in a comprehensive market report.
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