According to the report, global demand for equine supplement products market was valued at approximately USD 73.8 million in 2018, and is expected to generate revenue of USD 93.6 million by end of 2025, growing at a CAGR of 3.5% between 2019 and 2025.
The report covers forecast and analysis for the global equine supplement products market. The study provides historic data from 2016 to 2018 along with forecast from 2019 to 2025 based on revenue (USD Million). In-depth secondary research is used to ascertain overall market size, top industry players, top product, industry associations, etc. Macro-economic indicators such as healthcare industry outlook, healthcare spending, research funding, GDP along with company websites, company annual reports, white papers, financial reports and other sources have also been considered to arrive at the indicated market numbers.
Equine infectious anemia is found globally. This disease is rare or almost absent in some of the countries including Japan and Iceland. The most common deficiency seen among the horses is lack of adequate calories. Equines are not often given sufficient feed for the work required of them. Growth, exercise, and lactation all of these require lot of calories however talking about supplements, most of the veterinarian and horse owner never think of calories due to lack of awareness about its importance due to which animals or horses lack enough nutrition. Supplemental minerals or vitamins are the only solution that helps in such cases.
The study provides a decisive view on the equine supplement products market by segmenting the market based on supplement, application, distribution channel, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. Based on supplement the market is segmented into vitamins, proteins/ amino acids, electrolytes/ minerals, enzymes, and others. The electrolytes/ minerals segment accounted for major share of the market in 2018. Increase in the availability of electrolyte supplements, rise in the awareness related too deficiency of mineral nutrients is attributing to this segmental growth in the global market for equine supplements. Based on application the market is segmented into joint disorder prevention, performance enhancement, and others. The joint disorder prevention market held major share of the market in 2018. The awareness among the horse owners to reduce the lameness associated with osteoarthritis is attributed to the segmental growth of the market.
Based on distribution channel the market is segmented into retail pharmacies, veterinary hospital pharmacies, and others. The veterinary hospital pharmacies segment likely to grow at high CAGR in the forecast period owing to preference given by horse owners to treat the horses in the hospitals and increase in the availability of veterinary supplements in the hospital pharmacies. Regional segmentation includes the current and forecast demand for Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further bifurcation into major countries. Europe and North America regions are likely to grow during the forecast period due to high interest in equine care, the substantial adoption rate of horses per households, strong business operation of the brand companies in these two regions, and impressive animal healthcare expenditure.
The study also includes drivers and restraints for the equine supplement products along with the impact they have on the demand over the forecast period. Besides, the report includes the study of opportunities and trends available in the equine supplement products market on global level. Equine practice is likely to be a high overhead due to rising diseases like herpes virus, west nile virus, influenza virus, and encephalomyelitis, where the cost for vaccination is projected to be around 35 million USD as per the stats provided by the Euro Surveillance Journal in 2016. Popularity and rising investments in alternative forms of gambling like online gaming, horse racing, betting, high return on investment, competitive riding, and leisure is likely to drive the global equine supplements product market. Besides, growing demand for pet insurance has opened new avenues and the participants in the market are attracted by high return on investment (ROI) which is leading to market expansion.
The report also provides company market share analysis in order to give a broader view of the key players in the market. Industry insights and information is delivered in the required format. ZMR develops a list of industry players (manufacturers), distributors, retailers and industry experts. Some of the players included in equine supplement products market are Bayer AG, Kentucky Equine Research, Equine Products UK LTD, Boehringer Ingelheim International GmbH, Purina Animal Nutrition LLC., Zoetis, Vetoquinol S.A., Plusvital Ltd., Virbac, and Lallemand, Inc.
The report segments the equine supplement products market as follows:
Global Equine Supplement Products Market: Supplement Segment Analysis
Global Equine Supplement Products Market: Application Segment Analysis
Global Equine Supplement Products Market: Distribution Channel Segment Analysis
Global Equine Supplement Products Market: Regional Segment Analysis