Abstract
Although formal regulatory status continues to evade pet supplements, the
market is advancing at impressive rates, with sales expected to jump 39% by
2012 to reach $1.7 billion- a forecast that does not factor in the effect of
the products' attaining formal regulatory status, which Packaged Facts
predicts will create a huge boom in the market as consumers respond to the
bolstered credibility of pet supplements and new products and companies rush
to market. Currently driving sales are numerous factors, including growing
interest in the products among U.S. pet owners, the aging and overweight pet
population, the steady influx of new products, and increased usage and
recommendation of clinically proven supplements by the veterinary community.
This greatly expanded second edition of Packaged Facts' groundbreaking 2005
report segments the market into two categories- supplements and nutraceutical
treats- defining the latter as treats containing supplements or novel
botanical ingredients addressing specific health conditions, such as
glucosamine for joint health or omega fatty acids for skin and coat health.
Its primary focus is on products for dogs, cats and horses, with coverage also
extending to other types of companion animals including birds, small mammals
and herptiles. The report provides a forward-looking analysis of the market
from every angle, with key focuses including market breakouts by ingredient
type and retail channel, the evolving regulatory situation and efforts of the
National Animal Supplement Council (NASC), heightened food safety concerns
stemming from the spring 2007 pet food recalls, the influx of natural and
organic products, and competition from pet foods making functional claims.
The report also homes in on high-growth segments such as functional treats,
customized supplements, veterinary-exclusive products, emerging ingredients
(such as probiotics and fresh fruits and veggies) easier-to-administer forms,
and untapped consumer demographics- such as the 20 million dog- or cat-owning
households who use human supplements but not pet supplements, and who are
excellent prospects since they are pet owners who appreciate the benefits of
nutritional supplementation. It also provides close-up looks at numerous
innovators, including SmartPak, Nutri-Vet, Virbac, Dogswell and Nature' s
Answer.
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