Equine Supplement Products Market

Global Equine Supplement Products Market Report: By Supplement (Proteins/ Amino Acids, Vitamins, Enzymes, Electrolytes/ Minerals and Others), Application (Ana Performance Enhancement, Joint Disorder Prevention, and Others), Distribution Channel (Veterinary Hospital Pharmacies, Retail Pharmacies and Others), and Region (North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032.

Pharma & Healthcare | January 2024 | Report ID: EMR00469 | Pages: 301

Global Equine Supplement Products market is predicted to reach approximately USD 1.47 billion by 2032, at a CAGR of 3.48% from 2024 to 2032.

Supplements for horses are speciality foods created to improve their health and performance by filling in specific dietary gaps or bolstering certain areas of their wellbeing. The supplements comprise a diverse array of formulations, comprising vitamins, minerals, amino acids, and herbal ingredients, specifically designed to cater to the specific requirements of horses involved in equestrian sports like racing, show jumping, and recreational riding.

 

 

Global Equine Supplement Products report scope and segmentation.

Report Attribute

Details

Estimated Market Value (2023)

USD 1.08 billion

Projected Market Value (2032)

USD 1.47 billion

Base Year

2023

Forecast Years

2024 – 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Based on By Product Type, By Application, Distribution Channel & Region.

Segments Covered

By Product Type, By Application, Distribution Channel & By Region.

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2023 to 2032.

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others.

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Equine Supplement Products dynamics

Numerous factors that affect both supply and demand shape the dynamics of the global market for equine supplement products. The increasing interest in equestrian activities and the growing recognition of the significance of equine health are key factors driving demand. Horse owners and enthusiasts for equestrian sports are becoming more likely to spend money on speciality supplements in order to maintain their horses' best health and performance. Moreover, the growing market for preventive healthcare solutions is being driven by the increased demand for these solutions due to the recognition of horses as companions.

Supply-side dynamics are characterized by continuous product innovations, with manufacturers focusing on creating advanced formulations to cater to specific needs of horses engaged in diverse activities such as racing, endurance sports, and recreational riding. Research and development play a crucial role in gaining a competitive edge, as companies strive to introduce novel ingredients and delivery mechanisms. Additionally, strategic collaborations and partnerships within the industry contribute to the expansion of product portfolios and market presence.

 

Global Equine Supplement Products drivers

  • Increasing Emphasis on Equine Health and Performance

One of the primary drivers propelling the Global Equine Supplement Products market is the growing emphasis on equine health and performance. As horse owners and enthusiasts become more conscious of the well-being of their animals, there is a heightened demand for specialized supplements that address specific nutritional needs and enhance overall performance. This trend is particularly pronounced in regions with a strong equestrian culture, where the use of supplements is seen not only as a preventive healthcare measure but also as a means to optimize the athletic capabilities of horses in competitive events.

  • Rising Disposable Incomes and Equestrian Expenditure

The increasing disposable incomes of individuals, particularly in emerging economies, have contributed significantly to the growth of the equine supplement market. As affluence rises, horse owners are more willing to allocate funds for premium and specialized nutritional products to ensure the health and longevity of their equine companions. Moreover, the burgeoning popularity of equestrian sports and leisure riding has led to higher expenditure on products that enhance the performance and overall well-being of horses, driving the demand for a diverse range of equine supplements.

 

Restraints:

  • Stringent Regulatory Landscape

The presence of a strict regulatory environment is one of the main factors affecting the equine supplement market. Regulations differ from place to place, and for manufacturers, complying with them can be difficult and expensive. It becomes difficult to navigate various regulatory frameworks, particularly for smaller businesses, which slows down the approval of new products and the entry of new markets. This regulatory maze can stifle innovation and reduce the market's potential for overall growth.

  • Limited Awareness in Developing Regions

The market faces a restraint in the form of limited awareness, particularly in developing regions where equestrian cultures may be nascent. In these areas, horse owners may not be fully aware of the benefits of equine supplements, resulting in slower adoption rates. Educational efforts and marketing strategies to increase awareness about the importance of nutritional supplementation for horses are crucial to overcoming this restraint and tapping into the untapped potential in emerging markets.

 

Opportunities:

  • Expansion of Online Retail Channels

An opportunity lies in the expansion of online retail channels for equine supplements. The increasing prevalence of e-commerce platforms provides a convenient and accessible avenue for horse owners to purchase a wide array of products. Leveraging digital platforms for marketing and sales can enhance market reach, especially in regions where brick-and-mortar distribution may be limited. Companies can capitalize on this opportunity by developing user-friendly online platforms and implementing effective digital marketing strategies.

 

Segment Overview

  • By Supplement Type

Equine supplements encompass a range of essential nutritional components tailored to address specific needs. Proteins and amino acids are fundamental building blocks, promoting muscle development and overall health. Vitamins play a crucial role in supporting various bodily functions, contributing to the horse's overall well-being. Enzymes aid in digestion, ensuring efficient nutrient absorption, while electrolytes and minerals help maintain proper hydration and balance key physiological processes. The "Others" category may include specialized ingredients such as herbs, botanicals, and omega-3 fatty acids, offering a diverse array of formulations to meet the unique nutritional requirements of horses engaged in various activities.

  • By Application  

Equine supplements serve different purposes, with performance enhancement being a prominent application. Products in this category are designed to boost energy levels, stamina, and muscle strength, contributing to improved athletic performance. Another vital application is the prevention of joint disorders, addressing a common concern in horses, especially those involved in strenuous activities. Supplements designed for joint health often contain ingredients like glucosamine and chondroitin to support mobility and prevent issues such as arthritis. The "Others" category may include supplements targeting specific health concerns, such as coat and skin health, immune system support, or stress management.

  • By Distribution Channel

Equine supplements reach consumers through various distribution channels, with veterinary hospital pharmacies playing a critical role. These pharmacies, often affiliated with veterinary clinics, provide a professional and specialized environment for horse owners to access expert advice and quality products. Retail pharmacies, including both physical stores and online platforms, offer convenience and a wide product selection, catering to a broader consumer base. The "Others" category may involve alternative channels such as direct sales from manufacturers, equestrian supply stores, or specialty retailers focused on animal health. The diversity in distribution channels reflects the multifaceted nature of the equine supplement market, accommodating different consumer preferences and accessibility requirements. Overall, the segmentation by supplement type, application, and distribution channel allows for a nuanced understanding of the varied facets of the Global Equine Supplement Products market, catering to the specific needs and preferences of horse owners and industry stakeholders.

 

Global Equine Supplement Products Overview by Region

In North America, particularly the United States and Canada, the market thrives on a robust equestrian sports scene, coupled with a heightened awareness of equine health and performance. The region boasts a well-established infrastructure of veterinary services, contributing to the popularity of veterinary hospital pharmacies as a key distribution channel. Additionally, the region's affluence enables horse owners to invest in premium equine supplements, driving innovation and product diversity.

In Europe, countries like the United Kingdom, Germany, and France witness a strong tradition of horse ownership and equestrian activities. The market benefits from a sophisticated regulatory framework ensuring product safety and efficacy, fostering consumer trust. European horse owners prioritize preventive healthcare, leading to a significant demand for supplements addressing joint disorders and enhancing overall performance. The region also experiences a rising trend in online retail channels for equine supplements, providing convenient access to a broad range of products.

Asia-Pacific emerges as a region with immense growth potential, driven by an increasing middle-class population and a burgeoning interest in equestrian sports, particularly in countries like China and Australia. The market's expansion is supported by rising disposable incomes, elevating the status of horses as companions and investments. However, diverse regulatory landscapes across countries pose challenges for manufacturers, requiring strategic approaches to navigate regional variations. The Asia-Pacific region showcases a diverse demand for equine supplements, ranging from performance enhancement for racing horses to joint health solutions for leisure riding.

 

 

Global Equine Supplement Products market competitive landscape

Key players, including Nutramax Laboratories, Inc., Zoetis Inc., and Vetoquinol S.A., have maintained a strong foothold through extensive product portfolios, strategic collaborations, and a global presence. These industry leaders focus on continuous research and development, introducing innovative formulations that cater to specific needs such as joint health, performance enhancement, and overall well-being of horses. Furthermore, these companies leverage their well-established distribution networks, comprising veterinary hospital pharmacies and retail pharmacies, to ensure widespread availability of their products.

In addition to industry stalwarts, there is a notable influx of smaller, niche players contributing to market dynamism. These entrants often bring innovative and specialized equine supplement offerings, targeting specific health concerns or incorporating unique ingredients. The competitive landscape is further shaped by partnerships and acquisitions, as companies seek to expand their product portfolios and geographical reach. Strategic collaborations between manufacturers and veterinary professionals enhance product credibility and foster consumer trust.

 

Global Equine Supplement Products Recent Developments

  • Aug 2023, Equine Network has unveiled the introduction of My New Horse, a collaborative venture with Absorbine and Sentinel. This new brand aims to offer novice horse owners and riders the community support and resources tailored to their specific stage in the journey of horse ownership and riding.
  •  April 2023, Covetrus, a prominent player in animal health technology and services worldwide, has introduced the groundbreaking SmartImmune Mushroom by SmartPak. This innovative equine supplement is crafted from a potent blend of mushroom extracts designed to bolster a horse's innate defenses against external pathogens. Additionally, it features naturally occurring botanicals to assist the body in managing stress.

 

Scope of global Equine Supplement Products report

Global Equine Supplement Products report segmentation

ATTRIBUTE

DETAILS

By Supplement

  • Proteins/ Amino Acids
  • Vitamins
  • Enzymes
  • Electrolytes/ Minerals
  • Others

By Application

  • Performance Enhancement
  • Joint Disorder Prevention
  • Others

By Distribution Channel

  • Veterinary Hospital Pharmacies
  • Retail Pharmacies
  • Others

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Equine Supplement Products size and forecast:To identify and estimate the market size for global Equine Supplement Products market segmented By Supplement, By Application, Distribution Channel and by region. Also, to understand the consumption/ demand created by consumers between 2024 and 2032.
  • Market Landscape and Trends:To identify and infer the drivers, restraints, opportunities, and challenges for global Equine Supplement Products
  • Market Influencing Factors:To find out the factors which are affecting the market of global Equine Supplement Products among consumers.
  • Company Profiling: To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

Global Equine Supplement Products forecast period is 2024 - 2032.
According to global Equine Supplement Products research, the market is expected to grow at a CAGR of ~3.48% over the next eight years.
The possible segments in global Equine Supplement Products are based on by Supplement, By Application, Distribution Channel & by region.
The expected market size for Global Equine Supplement Products is USD 1.08 billion in 2023.
The major players in the market are Cargill, Boehringer Ingelheim International GmbH, EQUINE PRODUCTS UK LTD., Kentucky Equine Research, Lallemand, Inc., Plusvital Limited, Purina Animal Nutrition LLC., Vetoquinol SA, Virbac and Zoetis Inc.