NewswireToday - /newswire/ -
London, United Kingdom, 2008/05/29 - ReportBuyer.com has now added a new report showing that although formal regulations continue to evade the pet supplements industry, it is fetching new market share at an impressive rate, with sales expected to jump 39% by 2012 to $1.7 billion.
Report Buyer, the online destination for business intelligence for major industry sectors, has now added a new report showing that although formal regulations continue to evade the pet supplements industry, it is fetching new market share at an impressive rate, with sales expected to jump 39% by 2012 to $1.7 billion.
“Pet Supplements and Nutraceutical Treats in the U.S.” forecasts that the market will get an additional bump from consumers in response to bolstered credibility of pet supplements, if the products can attain formal regulatory status.
The report shows that although pet supplements represent the bulk of sales (74% in 2007), nutraceutical treats are increasing their presence in the market, a trend that is expected to continue through 2012. Forces driving market growth include pet owners’ growing interest in pet products, an ageing and overweight pet population, a steady influx of new products and increased usage of clinically proven supplements by the veterinary community.
Authors of the report say current market trends have been sustained through the sales of small animal supplements and nutraceutical treats in pet specialty shops, which account for over 43% of sales. They note that the remaining 57% of sales are through veterinarian offices, health and natural stores and mass-market outlets, including online retailing.
The authors note that nearly all pet owners value their pets for love and companionship and consider them family members. They say marketers have been successful in tapping into consumers’ willingness to pamper their pets by providing them with the highest-quality, healthiest products available at almost any cost.
“Pet Supplements and Nutraceutical Treats in the U.S.” examines the increasingly popular U.S. market for pet supplements and nutraceutical treats with particular focus on products for dogs, cats and horses. The report identifies key trends affecting the marketplace, along with trends driving growth, and also profiles major marketers and consumer demographics.
“Pet Supplements and Nutraceutical Treats in the U.S.” is available from Report Buyer. For more information, see website.
Report Buyer product ID: PKF00115
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