Animal Chewables Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Composition Type (Botanically Synthesized, Chemically Synthesized), By Drug (Analgesics, Anti-Infective, Anti-Ulcers, Minerals, Vitamins), By Distribution Channel (Online Veterinary Stores, Veterinary Clinics, Veterinary Pharmacies), By Region, and By Competition
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationAnimal Chewables Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Composition Type (Botanically Synthesized, Chemically Synthesized), By Drug (Analgesics, Anti-Infective, Anti-Ulcers, Minerals, Vitamins), By Distribution Channel (Online Veterinary Stores, Veterinary Clinics, Veterinary Pharmacies), By Region, and By Competition
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 135.30 million |
| CAGR (2023-2028) | 10.10% |
| Fastest Growing Segment | Chemically Synthesized |
| Largest Market | North America |
Market Overview
Global Animal Chewables Market has valued at USD 135.30 million in 2022 and is anticipated to project impressive growth in the forecast period with a CAGR of 10.10% through 2028. The Global Animal Chewables Market has been experiencing remarkable growth in recent years, driven by a combination of factors that reflect the evolving preferences and concerns of pet owners. As people worldwide continue to welcome furry companions into their lives, the demand for pet-related products, including animal chewables, has surged.
Key Market Drivers
Rising Pet Ownership
Pet ownership has been on the rise worldwide, with an increasing number of people opening their hearts and homes to furry, feathered, and scaled companions. This growing trend of pet ownership is not only a testament to the special bond humans share with animals but also a significant driver of the Global Animal Chewables Market.
One of the most apparent ways in which rising pet ownership drives the growth of the animal chewables market is by simply increasing the number of potential consumers. As more individuals and families adopt pets, the market for pet-related products, including animal chewables, expands organically.
Modern pet owners often view their animals as integral family members. This "humanization" of pets means that people want to provide their animals with the same level of care and comfort they would offer to human family members. Consequently, they are more willing to invest in premium pet products, such as high-quality chewables with added health benefits.
To cater to the diverse needs and preferences of pet owners, the animal chewables market has seen significant innovation. Manufacturers continually introduce new flavors, formulations, and ingredients to entice both pets and their owners. For example, chewables designed to support joint health, dental hygiene, or skin and coat care are now commonplace.
Emphasis on Pet Health
Pet ownership isn't just about companionship anymore; it's a commitment to providing the best possible care for our beloved animal companions. As the world increasingly prioritizes the health and well-being of pets, the Global Animal Chewables Market has experienced a significant surge in growth.
Pet owners today are more health-conscious than ever before. They're acutely aware that their pets' well-being is a top priority. As a result, they are actively seeking out products that contribute to their pets' health and longevity. Animal chewables are seen as a convenient and enjoyable way to provide essential nutrients, vitamins, and minerals, thereby aligning with the goal of maintaining optimal pet health.
The saying "an ounce of prevention is worth a pound of cure" applies to pet health as well. Pet owners increasingly recognize the value of preventive care to avoid costly and distressing health issues later on. Chewable supplements are often used as a preventive measure, promoting overall wellness and reducing the risk of certain health conditions.
Chewable treats serve a dual purposethey offer nutritional benefits while providing a form of positive reinforcement during training or daily interactions. This positive association with chewables not only strengthens the bond between pets and their owners but also encourages pet owners to choose these products to support their pets' health.
Convenience and Portability
In today's fast-paced world, convenience and portability have become paramount considerations in various aspects of our lives, including our pets' care and nutrition. This shift in consumer preferences has played a pivotal role in boosting the growth of the Global Animal Chewables Market.
Pet ownership no longer revolves solely around the home environment. More people are integrating their pets into various aspects of their lives, from travel and outdoor adventures to social gatherings. The need for easily transportable pet products has made animal chewables an attractive option for pet owners on the go.
Whether it's a weekend getaway or an extended vacation, pet owners want to ensure their pets receive proper nutrition while traveling. Animal chewables are travel-friendly, and their compact, lightweight packaging makes them an ideal choice for pet owners on the move.
Online Retail Growth
The global retail landscape has undergone a significant transformation in recent years, with e-commerce platforms becoming the preferred shopping destination for millions of consumers. This shift towards online retail has not only revolutionized the way we shop for human products but has also had a profound impact on the pet care industry. In particular, the Global Animal Chewables Market is experiencing substantial growth, driven in large part by the rise of online retail.
One of the primary reasons behind the growth of online retail is the unparalleled convenience it offers. Pet owners can browse, compare, and purchase animal chewables from the comfort of their homes or on the go. This convenience factor has made online shopping an attractive choice, contributing to the market's growth.
Many online retailers offer subscription services for pet products, including chewables. This model provides the convenience of automated deliveries, ensuring that pet owners never run out of essential supplements. Subscriptions are especially popular among busy pet owners who want to maintain consistent pet care routines.
Key Market Challenges
Ingredient Sourcing and Quality
Maintaining the quality and safety of ingredients used in animal chewables is crucial. Sourcing high-quality ingredients and ensuring their consistent supply can be a challenge, especially for manufacturers looking to meet growing demand. Additionally, issues related to contamination or recalls can harm a brand's reputation and financial stability.
Product Innovation and Differentiation
As competition intensifies within the animal chewables market, manufacturers face the challenge of continuously innovating to differentiate their products. Consumers are seeking unique formulations, flavors, and functional benefits, pushing companies to invest in research and development to stay ahead.
Competition from Alternative Products
The animal chewables market faces competition not only from other chewable products but also from alternative formats such as traditional supplements (pills, capsules), treats, and even raw or home-cooked diets. Convincing pet owners to choose chewables over these alternatives can be challenging.
Key Market Trends
Functional Ingredients
One of the most prominent trends in the animal chewables market is the incorporation of functional ingredients. Pet owners are increasingly seeking chewables that provide specific health benefits beyond traditional nutrition. This includes ingredients like CBD for anxiety relief, glucosamine for joint health, and probiotics for digestive support.
Natural and Organic Formulations
Pet owners are becoming more conscious of the ingredients in the products they give to their furry friends. As a result, there is a growing demand for natural and organic formulations in animal chewables. Manufacturers are responding by using high-quality, sustainably sourced, and organic ingredients.
CBD-Infused Chewables
CBD (cannabidiol) is making waves in the pet care industry due to its potential benefits for anxiety, pain management, and overall wellness in pets. CBD-infused chewables are expected to see significant growth as more research supports their safety and effectiveness.
Segmental Insights
Composition Type Insights
Based on the category of Composition Type, the Chemically Synthesized segment is poised to capture a substantial market share during the forecast period within the Global Animal Chewables Market for several compelling reasons. Firstly, advancements in chemical synthesis techniques have led to the development of highly effective and precisely formulated chewable products, ensuring consistent quality and efficacy. Additionally, chemically synthesized chewables often offer a more cost-effective solution compared to natural alternatives, making them an attractive option for both consumers and manufacturers. Furthermore, the ability to tailor specific ingredients and dosages in chemically synthesized chewables allows for greater versatility in meeting diverse nutritional and therapeutic needs for various animal species. As a result, this segment is expected to witness robust growth and maintain a prominent position in the global animal chewables market in the coming years.
Distribution Channel Insights
Based on Distribution Channel, the Veterinary Pharmacies segment is poised to claim a substantial market share during the forecast period within the Global Animal Chewables Market for several compelling reasons. Firstly, the increasing awareness among pet owners about the importance of veterinary guidance and prescription-based solutions is driving them to seek specialized advice from veterinary professionals. This trend not only promotes the use of animal chewables but also encourages pet owners to purchase them through established veterinary pharmacies. Secondly, veterinary pharmacies often stock a wide range of trusted and veterinarian-recommended chewable products, instilling confidence in consumers regarding product quality and safety. Additionally, these pharmacies offer the convenience of one-stop shopping for pet owners, further propelling the growth of this segment. As a result, the Veterinary Pharmacies segment is anticipated to experience significant market growth and maintain a prominent position in the global animal chewables market in the coming years.
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Regional Insights
North America is poised to dominate the Global Animal Chewables Market for several compelling reasons. Firstly, the region boasts a large and affluent pet owner population that places a strong emphasis on pet health and well-being, driving the demand for high-quality animal chewables. Secondly, North America has a well-established and highly regulated pet pharmaceutical industry, ensuring rigorous standards of product safety and efficacy. Furthermore, the presence of numerous leading pet food and supplement manufacturers in the region allows for a wide variety of chewable products to cater to diverse pet needs. Additionally, a strong network of veterinary clinics and pet supply retailers further promotes the accessibility and distribution of animal chewables. Given these factors, North America is expected to maintain its dominant position in the global animal chewables market, offering a robust market landscape for both established players and new entrants in the industry.
Key Market Players
- Allaccem Inc
- Bayer AG
- Boehringer Ingelheim GmbH
- Ceva Animal Health LLC
- Colgate-Palmolive Co
- Merck & Co., Inc.
- Nestle SA
- Zoetis Inc
- Dechra Veterinary Products Ltd
- Elanco Animal Health Inc
| By Composition Type | By Drug | By Distribution Channel | By Region |
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