Today’s Veterinary Business Staff
Pet supplement sales exploded in 2020 as the pandemic caused U.S. consumers to focus not only on their own health and wellness but also on that of their dogs and cats, according to a new report from Packaged Facts.
Sales grew by 21%, to nearly $800 million, with the veterinary sector capturing an estimated 46% of the revenue, the largest share.
Packaged Facts found that dog owners spent four times as much as cat owners on pet supplements and that “41% of pet owners are paying closer attention to their pets’ health and wellness because of COVID-19.”
The report, “Pet Supplements in the U.S., 8th Edition,” was based primarily on national consumer polls and the market research firm’s survey of more than 1,500 pet owners. Functional treats were excluded from the research.
Among other highlights:
- Pet supplement sales are projected to rise by about $50 million annually through 2025.
- Purchasers are more likely to be supplement takers themselves.
- The sale of cannabidiol (CBD) pet products reached nearly $100 million in 2020, “about triple the 2019 sales level.” Just over 20% of dog owners and 10% of cat owners purchased CBD supplements.
- Among non-CBD products, supplements formulated for the support of joints and mobility were most popular.
- The legality of CBD supplements isn’t of great concern. “Forty-eight percent of dog and cat owners (are) interested in purchasing these supplements even if they remain in a legal gray area,” the report stated.
- A veterinarian’s recommendation of a specific supplement is the No. 2 purchase influencer after a pet owner’s internet research.
The complete Packaged Facts report is available for purchase at bit.ly/3pwEsM2.
Did you know a subscription to Today’s Veterinary Business is free to qualified veterinary professionals? All you have to do is sign up here (and renew each year). You also can sign up to receive the Today’s Veterinary Business weekly e-newsletter.