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 reachingUSD 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.
Explore FMI's Extensive Coverage in the Food and Beverages Domain:
- Pet Skin and Coat Health Supplement Market Analysis by Chewables and Powder through 2034. - Review and Request to Access the Sample Report.
- Pet Dietary Supplement Market by Glucosamine, Probiotics, Multivitamins, Omega 3 fatty acids, and Others from 2023 to 2033. - Review and Request to Access the Sample Report.
- Pet Food Ingredients Market Covering Sales Outlook, Up-to-date Key Trends, Market Size and Forecast, 2023-2033. - Review and Request to Access the Sample Report.
- Animal Feed Additive Market Analysis by Liquid, Granules, and Powder Form for 2024 to 2034. - Review and Request to Access the Sample Report.
- Whole Milk Powder Market Analysis by Cows and Goats through 2034. - Review and Request to Access the Sample Report.
- Culinary Sauce Market Analysis by Soy Sauces and Oyster Sauces through 2034. - Review and Request to Access the Sample Report.
- Fish Hydrolysate Market Analysis by Powder and Liquid through 2034. - Review and Request to Access the Sample Report.
- Caramel Market Analysis by Solid and Liquid through 2034. - Review and Request to Access the Sample Report.
- Hemp Milk Market Analysis by Sweetened and Unsweetened Hemp Milk through 2034. - Review and Request to Access the Sample Report.
- Global Bay Leaf Oil Market Analysis by Organic and Conventional through 2034. - Review and Request to Access the Sample Report.
- Roll-dried Starch Market Analysis by Food Industry and Pharmaceutical Industry through 2034. - Review and Request to Access the Sample Report.
- Animal Feed Sweetener Market Analysis by Natural Sweeteners and Artificial Sweeteners through 2034. - Review and Request to Access the Sample Report.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading market intelligence and consulting service provider, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, the U.S., and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact Us
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn | Twitter | Blogs | YouTube
Logo: https://mma.prnewswire.com/media/1197648/3531122/FMI_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/global-omega-3-pet-supplement-sales-set-to-total-usd-2-292-5-million-by-2034-amid-growing-pet-population-and-pet-humanization-trend-302174122.html
