Due to increased consumer interest inspired by COVID-19 – especially in products targeting immunity, anxiety, and general wellbeing – sales of pet nutritional supplements rose 21% to nearly $ 800 million in 2020. This is evident from Packaged Facts in their market research report US Pet Supplements, 8th Edition. The increase follows multi-year growth in the range of 3% to 5%.
“The sales increases in 2020 were partly due to the flooding of the CBD dietary supplement market. Numerous companies were selling hemp-derived pet products and throngs of consumers looking for natural remedies to address issues such as anxiety, pain management, and pain relievers for themselves and their pets, ”reads the packaged facts report. “In the period 2015-2020, the pet food supplement market recorded an average annual growth rate (CAGR) of 7%, which has increased significantly over the periods of the last decade, largely due to the pandemic-induced increase in 2020.”
In addition to the surge in COVID purchases and the growth of CBD, Packaged Facts also pointed to other trends that will drive the growth of the pet supplements market in 2021 and beyond:
• Supplements for older pets: Joint supplements are already high on the list when it comes to consumer buying patterns, but hip and joint supplements are only part of the picture of senior pet health. As pets are living longer at an all-time high due to advances in veterinary care and pet owners’ interest in pet well-being and nutrition, more and more aging dogs and cats require immune response, heart, and cognitive support products -instammation- and anti-products Pain relief aid.
According to Packaged Facts 2020 survey of pet owners, 47% of dog owners have a dog aged 7 years or older, up from 43% in our 2019 survey, while 43% of cat owners have a cat in this age group, up from 39% which shows the expansion of this pet demographics. By targeting seniors with tailored products, marketers can leverage existing products in a growing segment of the pet population. Senior-specific products, including multifunctional nutritional supplements, represent another promising avenue for market growth.
• Omnichannel Marketing Opportunities: Pet owners’ own internet research is high on the list of ways pet owners choose which pet supplements to buy. This is stated by 41% of pet owners in Packaged Facts’ 2020 survey of pet owners. This is no surprise given the e-commerce boom in all animal categories sparked by the pandemic. The rapid pace of online sales of most types of pet products is putting even more pressure on brick and mortar retailers, and the pet supplements are one of the pet supplements because of their small size and the need to regularly replenish, making it especially good for quick, cheap, or free Shipping.
In 2020, the e-commerce channel accounted for 30% of pet supplement sales, more than double the value of 14% in 2018. At the same time, many pet owners still demand and enjoy the in-store shopping and interaction experience with shop workers, who in some cases appreciate it even more due to pandemic-related privations. Therefore, marketers and retailers of pet supplements should use omnichannel and omnimarket strategies even more to ensure that their products are fully represented and available anywhere, anytime.
• Transparency marketing Natural, organic and holistic supplements: Unlike the pet food category, which has natural products at or near the point of market saturation, pet food supplements offer plenty of room for natural products to grow. Packaged Facts 2020 survey of pet owners shows that 77% of pet additive buyers look for supplements with natural ingredients and 68% look for organic supplements.
More than ever, marketers need to turn to pet owners, reviewing ingredient lists and looking for products that offer the same level of transparency that they seek for their own health products. In particular, marketers of CBD dietary supplements make an effort to provide detailed information about where their ingredients come from -. This level of transparency raises the bar for other dietary supplement manufacturers and creates an environment in which pet owners increasingly expect access to detailed information.