The growing trend of treating pets like family (pet
humanization) is fueling the omega-3 pet supplement market. Pet
owners are increasingly seeking ways to improve their pet's health,
and omega-3s offer benefits like alleviating skin conditions and
reducing inflammation. This trend is expected to be particularly
strong in the United States and
India.
NEWARK, Del., June 17, 2024 /PRNewswire/ -- According to Future
Market Insights, Inc., the global omega-3 pet supplement
market value is estimated to total USD 1,280.7 million in 2024. It is projected
to grow at a CAGR of 7.9% during the assessment period, with
global revenue reaching USD 2,292.5
million by 2034.
Download the Sample PDF report to explore key market
insights and trends:
https://www.futuremarketinsights.com/reports/sample/rep-gb-19711
The humanization of pets drives the global omega-3 pet
supplement industry forward. People want good health for their
pets. Pet owners purchase supplements to ensure their pets receive
the proper nutrition and avoid various health issues.
The humanization of pets is helping to increase sales of pet
supplements, especially omega-3 fatty acid-based ones. Similarly,
growing awareness about the importance of proper nutrition on pet
health will likely benefit the industry.
Omega-3 fatty acids, such as those found in fish oil, have been
shown to alleviate symptoms of skin conditions like atopic
dermatitis and psoriasis, which can cause irritation, redness, and
inflammation. These beneficial fatty acids, including
eicosapentaenoic acid, alpha-linolenic acid, and docosahexaenoic
acid, play important roles in brain development and reducing
inflammation in the body.
Veterinarians frequently recommend omega-3 supplements as a
routine treatment for pets with non-specific skin problems. Due to
the numerous health advantages of omega-3s, the popularity of
omega-3 pet supplements is rapidly increasing. Omega-3s can help
maintain skin barrier function, seal in moisture, and keep out
irritants, potentially reducing the severity of skin disorders in
pets.
The clean label movement, driven by consumer demand for
transparency, is making its impact in the omega-3 pet supplement
industry. The main aim of the clean label movement is to maintain
transparency about pet ingredients among consumers.
Key Takeaways from the Global Omega-3 Pet Supplement Market
Study:
- The omega-3 pet supplement market is projected to grow at a
CAGR of 7.9% through 2034.
- Based on form, capsule segment is expected to dominate the
market with a share of 36% in 2024.
- Based on application, the skin and coat health segment are
expected to hold a leading market share of 38% in 2024.
- The United States is expected
to account for a market share of 36.4% during the forecast
period.
- Sales in India are projected
to soar at 6.9% CAGR through 2034.
"The omega-3 pet supplement market shows promising growth
potential, driven by the
increasing pet population and surging
demand for healthy pet supplements. Collaborations, mergers, and
acquisitions among players indicate a competitive landscape focused
on innovation and meeting evolving consumer preferences for pet
health and wellness." Says Nandini Roy Choudhury (Client Partner for Food
& Beverages at Future Market Insights, Inc.).
Who is Winning?
Few leading manufacturers of omega-3 pet supplements listed in
the report include Icelandirect, BioThrive Sciences, NutraPak
USA, Nordic Naturals, Eukanuba,
Iams, Hill's, and others. These players are constantly looking to
develop novel solutions to meet growing demand from pet owners.
The omega-3 pet supplement market has some start-up
organizations, particularly around plant-based and algae-derived
omega-3 sources. These players are looking to develop plant-based
omega-3 supplements. Similarly, strategies like acquisition and
mergers are becoming popular in the industry.
Industry Updates,
- In 2023 Corbion signed a binding agreement to sell its
Emulsifier business to Kingswood Capital Management. This allows
Corbion to focus more on its core omega-3 ingredients
business.
Purchase now and gain full access to the
Omega-3 Pet Supplement Industry report, featuring comprehensive
Market Forecast, Company Share Analysis, Competition Intelligence,
DROT Analysis, Market Dynamics and Challenges, and Strategic Growth
Initiatives.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides a
thorough, detailed, and unbiased analysis of the global omega-3 pet
supplement market, presenting historical demand data for the years
2019 to 2023 and forecast statistics for years 2024 to 2034. The
study offers growth projections based on pet type, form,
application, sales channel and region.
About the Food & Beverage Division at Future Market
Insights
Expert analysis, actionable insights, and strategic
recommendations – the food & beverage team at Future
Market Insights helps clients from all over the globe with their
unique business intelligence needs. With a repertoire of over 1,000
reports and 1 million+ data points, the team has analyzed the food
& beverage industry lucidly in 50+ countries for over a decade.
The team provides end-to-end research and consulting services;
reach out to explore how we can help.
About the Author:
Nandini Roy
Choudhury (Client Partner for Food & Beverages at
Future Market Insights, Inc.) has 7+ years of management consulting
experience. She advises industry leaders and explores off-the-eye
opportunities and challenges. She puts processes and operating
models in place to support their business objectives.
She has exceptional analytical skills and often brings thought
leadership to the table.
Nandini has vast functional expertise in key niches, including
but not limited to food ingredients, nutrition & health
solutions, animal nutrition, and marine nutrients. She is also
well-versed in the pharmaceuticals, biotechnology, retail, and
chemical sectors, where she advises market participants to develop
methodologies and strategies that deliver results. Another feather
to her cap manifests in the form of process automation. She is
vocal about bringing automation to the fore to bring a
360-degrees-round revolution in manufacturing sector.
Her core expertise lies in corporate growth strategy, sales and
marketing effectiveness, acquisitions and post-merger integration
and cost reduction. Nandini has an MBA in Finance from MIT School
of Business. She also holds a Bachelor's Degree in Electrical
Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in
journals including Beverage Industry, Bloomberg, and Wine Industry
Advisor.
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