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.
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.
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.
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