People love their pets, and as the pet supplements boom has proven, they will do whatever they can to ensure that their pets are happy, healthy, and thriving. If they believe a supplement will help their pets live their best lives, many pet owners will not hesitate to buy it.
In fact, 62% of U.S. and European pet owners have indicated that they are likely to buy supplements. Since 86.9 million U.S. households own a pet (i.e., 66% of U.S. households overall), this equates to a potential pet supplements market of nearly 54 million households in the U.S. alone.
Pet supplements are part of a large and growing market
In 2021 the pet supplements market was valued at US $1.9 billion, with a projected compound annual growth rate (CAGR) of 6.7% by 2028.
Pet supplements are an important part of overall pet industry sales, which have been experiencing tremendous growth. In the U.S., for example, total sales in the pet industry increased from $90.5 billion in 2018 to $136.8 billion in 2022 – a whopping 51.5% increase. This is far more than can be accounted for by inflation!
Why are pet capsule supplements on the rise?
The COVID-19 pandemic, which brought a heightened awareness of and focus on human health and wellness, may have accelerated pet owners’ interest in their pets’ health and wellness, too. Today, more and more pet owners are concerned about the health of their beloved companions and are seeking ways to supplement their pets’ diets in order to support their good health. Pet capsule supplements offer an easy and beneficial solution.
The reasons for pet capsule supplements’ popularity include:
1. Pet humanization: Pets are no longer just “animals;” 71% of pet owners consider their pets to be full-fledged members of the family, with pet owners seeing themselves as “pet parents”. Like all good parents, “pet parents” want to do all they can to take excellent care of their “children.” This value is so important that 86% of pet owners prioritize their pet’s health and wellness over the cost of achieving this.
In addition, consumers tend to believe that what’s good for their own health is good for their furry companions’ health, too. It’s no coincidence that the popularity of pet supplements has increased in tandem with the growth in the human supplements market.
2. Convenience: Pet capsules can be mixed with food or given as a snack. According to the American Veterinary Medical Association, some pet owners may prefer capsules over chewable, which may have added flavors and other ingredients. This preference may also tie into the “pet humanization” issue, because so many people prefer capsules for their own supplements and medications.
3. Ready availability : In the past, pet capsule supplements were challenging to find and only available in specialized stores. Today they can be easily purchased online or in person at pet stores, “big box” retail stores, veterinary offices and more.
4. Efficacy: Pet capsule supplements can improve pets’ joint health, strengthen their immune system, enhance their skin and coat health and much more. A Pet food Industry survey revealed that 57% of pet owners buy supplements to improve their pets’ overall health.
Flavored PET-CAPS make pet capsule supplements even more convenient
Sometimes getting pets to ingest supplements can be complex. PET-CAPS flavored two-piece gelatin capsules for pets are designed to overcome this issue.
Developed for both nutraceutical and pharmaceutical use, PET-CAPS are of such high quality that they are suitable for human consumption. Available in three flavors (beef, chicken, or bacon) and a variety of sizes, PET-CAPS both smell and taste like the given flavor. As a result, pets readily accept the supplement because they think it is food or a treat.