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New Life Returning to Pet Supplement Market

Due primarily to a downturn on the equine side of the market, sales of pet supplements and nutraceutical treats felt the recessionary cold, but the market now appears set to track back up, according to a new report from Packaged Facts.

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By: Sean Moloughney

Editor, Nutraceuticals World

Due primarily to a downturn on the equine side of the market, sales of pet supplements and nutraceutical treats felt the recessionary cold, but the market now appears set to track back up, according to a new report from Packaged Facts.


Many positive factors are at play, the market research firm contends, including Americans’ (and especially Baby Boomers’) receptiveness to supplements in general, the expanding health needs of the aging pet population, the steady influx of new products, growing consumer preference for natural remedies vs. pharmaceuticals, greater availability and exposure at retail (including private labels), increasing acceptance and recommendation of pet supplements by the veterinary community, and the relative affordability of nutraceutical treats as a mode of “functional pampering” during the down economy. As a result, even though formal regulatory status continues to evade pet supplements, sales are expected to reach $1.6 billion by 2015, a 27% increase from 2010.
 
The 3rd edition of Packaged Facts’ definitive “Pet Supplements and Nutraceutical Treats in the U.S.” report segments the market into two categories—supplements and nutraceutical treats (i.e., those containing supplements or novel botanical ingredients addressing specific health conditions, such as glucosamine for joint health)—with a primary focus on products for dogs and cats, but also extending to horses and other types of companion animals including birds, small mammals, and reptiles.

The report also provides a forward-looking examination of the market from every angle, including breakouts by supplement type and retail channel, analysis of the complex and evolving regulatory situation, competitive structure and marketing trends, new product tracking, and consumer profiling.
 
In addition, the report also homes in on high-growth segments such as senior and natural products, emerging ingredients, and untapped consumer demographics—such as the millions of pet owners who use human supplements but not pet supplements and who are thus excellent future prospects.

A special feature of this new edition is proprietary survey data from Packaged Facts’ fall 2010 pet owner survey, which charts trends in usage of OTC and veterinary-dispensed pet supplements, compared with usage of special-purpose nutritional formula pet foods and treats.

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