The global pet supplement market is growing at a pace of more than five percent annually, according to a recent report by Technavio, a market research firm. The study also reveals that pet owners in the Americas make up nearly 42 percent of the world’s pet supplement market share.
The impressive growth in this market is fueled, in part, by consumers who seek quality supplements for their pets. Millennial pet owners in particular view supplements as alternatives to conventional pet medicines. Consumers across the board tend to prefer natural and organic ingredients and products made in the U.S., which are generally perceived to be safer and more effective.
Formats are also driving growth in this category, and the most successful marketers are offering options that go beyond traditional pills and tablets. Many pet supplements, for example, are marketed as “functional treats.” They take the shape of soft chews and biscuits that cats and dogs look forward to eating. Other supplements are designed to enhance the flavor of food. These powders, liquids, gels, and pastes can easily be mixed into your pet’s regular meals.
Interestingly, pet supplement trends are closely tied to human supplement trends. Pet owners who are concerned about their own joints, digestion, weight, skin, hair, and cognitive function want the same protection for their pets, and that’s why these ingredients are so popular in pet supplements today:
- Fish oil
- Digestive enzymes
- Coenzyme Q10
- Omega-3s and omega-9s
Key Differentiators: Credibility, Palatability, and Stability
Pet supplement manufacturers are always looking for ways to differentiate their products from competitors and tout real benefits to consumers.
One natural marketing approach is to promote specific health benefits. While research on the effectiveness of pet supplements is not widespread, some manufacturers are using preclinical research and seeking endorsements by veterinarians to bolster their credibility.
The palatability of pet supplements is another important consideration. If your dog or cat won’t eat a supplement, they won’t get any benefit from it and the pet owner won’t buy it again. New technologies like microencapsulation are being used in the manufacturing process to mask the odor and taste of active ingredients and to turn liquid ingredients, such as fish oil, into powders.
Microencapsulated ingredients are also more stable, which means that they are better protected from moisture, oxygen, and ingredient interactions. This increased stability also ensures a longer product shelf life without spoiling.
As pet owners and pets live longer, healthier lives, pet supplements are likely to stay on the growth trajectory. Recent trends in human supplements are a good indicator of what will come next in the pet supplement market. Manufacturers and marketers who watch pet supplement trends will be better prepared to develop popular products. To learn more, contact the experts at Precision Science or explore our capabilities.