At 6.0% CAGR, the Europe Pet Supplements Market is projected to be worth US$ 873.49 million by 2028, says Business Market Insights

According to Business Market Insights research, the Europe pet supplements market was valued at US$ 617.43 million in 2022 and is expected to reach US$ 873.49 million by 2028, registering a CAGR of 6.0% from 2022 to 2028. Strategic developments by key market players and rising number of pet owners are the critical factors attributed to the Europe pet supplements market expansion.               

The rising consumer preference and demand for nutrient-rich, premium, and personalized pet products has increased product innovations. This includes the development of innovative, safe, and premium quality pet supplements. Major market players are diversifying product portfolios by introducing a variety of pet supplements with different forms and health benefits.  For instance, in September 2019, Vetericyn launched the ALL-IN, a dog supplement in the market with an innovative formula that provides optimal nutrient absorption. In addition, in August 2020, Zesty Paw LLC launched its first range of products for puppies. The puppy line includes five new products—Puppy Aller-Immune Bites; Puppy Calming Bites, Composure & Relaxation; Puppy 8-in-1 Multivitamin Bites; Training Bites; and Puppy Milk Replacer.

Moreover, several players operating in the Europe pet supplements market are engaged in the production of customized pet supplements. Various companies manufacturing human supplements are introducing new product portfolios for pet supplements to cater to the growing demand for pet supplements. For instance, in December 2022, MankindPharma announced the diversification of its product portfolio into the pet care segment with the launch of the PetStar brand. This brand will offer pet care products, including pet food, medicine, pet supplements, and grooming products. Additionally, in February 2023, AlphaPet Ventures announced the acquisition of Herrmann's Manufaktur, a pet food brand owned by Herrmann GmbH. The acquisition advances AlphaPet's objective of diversifying its portfolio of premium brands. Thus, increasing strategic developments such as product innovations and introduction of new product portfolios are driving the Europe pet supplements market growth.  

On the contrary, stringent regulatory framework hurdles the growth of Europe pet supplements market.

Based on form, the Europe pet supplements market is segmented into chewable, powder, and others. The chewable segment held 59.0% share of Europe pet supplements market in 2022, amassing US$ 364.53 million. It is projected to garner US$ 511.17 million by 2028 to expand at 5.8% CAGR during 2022–2028.

Based on pet type, the Europe pet supplements market is segmented into dogs, cats, and others. The dogs segment held 53.9% share of Europe pet supplements market in 2022, amassing US$ 332.99 million. It is projected to garner US$ 477.78 million by 2028 to expand at 6.2% CAGR during 2022–2028.

Based on distribution channel, the Europe pet supplements market is bifurcated into online and offline. The offline segment held 79.1% share of Europe pet supplements market in 2022, amassing US$ 488.32 million. It is projected to garner US$ 684.01 million by 2028 to expand at 5.8% CAGR during 2022–2028.  

Based on country, the Europe pet supplements market is segmented into the Germany, the UK, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 48.3% share of Europe pet supplements market in 2022. It was assessed at US$ 298.03 million in 2022 and is likely to hit US$ 415.08 million by 2028, exhibiting a CAGR of 5.7% during 2022–2028.  

Key players operating in the Europe pet supplements market report Dorwest Herbs Ltd, Nordic Naturals, Nutramax Laboratories Consumer Care Inc, and Comfort Click Ltd, among others.

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