Pet Relaxants Market
Pet Relaxants Market Analysis by Pills/Tablets, Chewables, and Powder for Dogs, Cats, and Other Pet Types from 2023 to 2033
Analysis of Pet Relaxants Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Pet Relaxants Market Outlook (2023 to 2033)
Newly-released pet relaxants market analysis report by Fact.MR reveals that global sales of the pet relaxants market in 2022 were held at US$ 268 million. With 6.4% projected CAGR from 2023 to 2033, the market is expected to reach a valuation of US$ 540 million by the end of the forecast period.
Pet relaxants for dogs are expected to be the highest revenue-generating type in the market, projected to grow at a CAGR of over 6.2% from 2023 to 2033.
| Attributes | Details |
|---|---|
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Global Pet Relaxants Market Size (2022) |
US$ 268 million |
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Global Pet Relaxants Market Size (2033) |
US$ 540 million |
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Global Pet Relaxants Market CAGR (2023 to 2033) |
6.4% |
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U.S. Pet Relaxants Market CAGR (2023 to 2033) |
6.2% |
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Key Companies Covered |
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Revenue of Pet Relaxants Market from 2018 to 2022 Compared to Demand Outlook for 2023 to 2033
As per the research of the Pet Relaxants Market by Fact.MR - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value increased at around 8.2% CAGR. With an absolute dollar opportunity of US$ 250.6 million, the market is projected to reach a valuation of US$ 540 million by 2033.
What Key Drivers are influencing the Market Expansion?
Pet relaxants are products designed to help calm and soothe pets that experience anxiety, stress, or fear. These products may contain natural or synthetic ingredients that have calming effects on pets, such as herbs, pheromones, or medications. Pet relaxants can come in different forms, including sprays, collars, chews, and supplements, and are typically used in situations that can cause anxiety or stress in pets, such as during travel, vet visits, grooming, or loud noises.
In 2020, the global pet calming products sales was valued at around US$ 465 million, and it is projected to reach about US$ 659 million by 2025, growing at a CAGR of 7.2%. Pets, like humans, can experience anxiety and stress due to various factors such as separation anxiety, loud noises, unfamiliar environments, and fear of other animals. Pet relaxants can help alleviate these symptoms, leading to an increase in demand. This growth can be attributed to the increasing adoption of pets and the rising awareness of pet health and wellness, which is expected to drive the demand in the upcoming years.
According to the American Pet Products Association, in 2020, around 85 million households in the United States have a pet. Among these pets, dogs are the most popular, with 63.4 million households owning at least one dog, and cats are the second most popular, with 42.7 million households owning at least one cat. The rising trend of pet ownership has led to an increase in the demand for pet relaxants, as pet owners look for ways to keep their pets calm and relaxed.
Region-Wise Analysis :
Which Region is projected to Offer Significant Growth in the Market?
North America is a prominent shareholder of the market with a market size of US$ 110.1 million in 2022. The regional market is projected to have a market worth US$ 221.9 million by 2033.
According to a report by the Canadian Animal Health Institute, in 2020, Canadian pet owners spent around US$ 7.48 billion on their pets, an increase of 3.9% compared to the previous year. This includes spending on food, veterinary care, supplies, and other services related to pet care. The pet industry in Canada has been growing steadily over the past decade, with pet ownership rates increasing and pet owners becoming more willing to spend on their pet's health and wellness, this influences the market growth in the upcoming years.
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Country-Wise Analysis :
United States Pet Relaxants Market Analysis :
The market in the United States is expected to grow to be worth US$ 191.3 million by 2033, with an absolute dollar growth of US$ 86.8 million from 2023 to 2033. The market in the United States has grown at a CAGR of 8% from 2018 to 2022 and is expected to grow at a CAGR of 6.2% from the year 2023 to 2033.
According to the American Pet Products Association's (APPA) National Pet Owner's Survey, in 2021, nearly 70% of US households in 90.5 million homes owned a pet, which was an increase of around 6.5% from 2019. This has boosted pet care spending, resulting in a significant increase in products and services aimed at affluent pet owners. The growing pet ownership in the United States is expected to increase the market revenues in the upcoming years.
United Kingdom Pet Relaxants Market Analysis :
The market in the United Kingdom is expected to grow to be worth US$ 22.7 million by 2033, with an absolute dollar growth of US$ 9.5 million. The market in the country has grown at a CAGR of 7.2% from 2018 to 2022 and is expected to grow at a CAGR of 5.5% from 2023 to 2033.
According to the Pet Food Manufacturers Association, in 2020, pet ownership grew with around 12 million households in the UK owning a pet. The growing pet ownership in the United Kingdom and pet health awareness, is expected to help towards the market growth in the upcoming years.
China Pet Relaxants Market Analysis :
In China, the market is expected to grow to be worth US$ 38.8 million with an absolute dollar growth of US$ 16.8 million till 2033. The market in China has grown at a CAGR of 7.6% from 2018 to 2022 and is expected to grow at a CAGR of 5.8% from 2023 to 2033.
According to National Bureau of Statistics of China, the pet ownership rate in China has been steadily increasing in recent years. In 2020, there were over 99.15 million pet dogs and 76.68 million pet cats in China, making it one of the largest pet-owning countries in the world. The growing number of pet population worldwide, increasing spending on pets, and increasing awareness of pet health are the major market drivers for regional market growth.
Japan Pet Relaxants Market Analysis :
In Japan, the market is expected to grow to be worth US$ 31.7 million with an absolute dollar growth of US$ 12.2 million. The market in Japan has grown at a CAGR of 6.7% from 2018 to 2022 and is expected to grow at a CAGR of 5% from 2023 to 2033.
According to a report by the Japan Pet Food Association, in 2020, there were over 9.9 million pet dogs and 11.5 million pet cats in Japan. The rising trend of pet ownership and growing health issues that cause discomfort and anxiety, has led to an increase in the demand for pet relaxants, as pet owners look for ways to keep their pets calm and relaxed.
South Korea Pet Relaxants Market Analysis :
The market in South Korea is expected to grow to be worth US$ 19.4 million by 2033, with an absolute dollar growth of US$ 7.1 million. The market in South Korea has grown at a CAGR of 6.1% from 2018 to 2022 and is expected to grow at a CAGR of 4.6% from 2023 to 2033.
According to a report by the US Department of Agriculture (USDA), in 2020, the total sales of the South Korean animal health market was around US$ 680 million. Pet ownership in South Korea increased by 5% in the same year. The animal health sector in South Korea is expected to continue growing in the coming years, driven by factors such as the increasing pet ownership and the growing demand for high-quality pet products and services. This is expected to influence the market growth in the upcoming years.
Category-Wise Insights
Why Pet Relaxants for Dogs are projected to Witness Significant Growth?
Pet relaxants for dogs are projected to witness significant revenue growth with a CAGR of 8% from 2018 to 2022. The market for this type is expected to grow at a CAGR of 6.2% from 2023 to 2033.
Dogs are the most commonly owned pets worldwide, and their ownership continues to grow. Dogs are known to experience high levels of anxiety and stress, particularly in certain situations such as thunderstorms, fireworks, and travel. This has led to an increased demand for products that can help dogs manage their anxiety and calm down in these situations. As a result, pet relaxant for dogs is projected to witness significant market growth.
Why Chewable Form of Pet Relaxants are projected to Witness Significant Growth?
Pet relaxants in chewable form is projected to witness significant growth with a CAGR of 7.8% from 2018 to 2022. The market through this category is expected to grow at a CAGR of 6% from 2023 to 2033.
Chewables are a convenient and easy-to-administer form of pet relaxant that can be given to pets without causing any stress or discomfort. This makes them an attractive option for pet owners who want to help their pets manage anxiety or stress. Chewables come in a variety of flavors and textures that are appealing to pets, making them more likely to accept and enjoy the supplement. Thus, chewables are projected to witness significant growth in the market.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Competitive Analysis :
Key players in the market are Zoetis, VetriScience, Solid Gold Pet, LLC, Nootie, Vital Planet, Helopssa, Royce Naturals, FURALAND, Hemp Well, PREMIUM CARE, THUNDERWORKS, Pet Naturals, NaturVet, Feliway, Richard's Organics, Great Pet Media, Beaphar, and Oralx.
A few of the recent developments in the market are :
- In September 2022, PetHonesty has entered the brick-and-mortar retail arena in collaboration with Petco Health & Wellness Company. With this change, PetHonesty's products are now accessible in over 1,500 places across the United States.
- In March 2023, Virbac announced aspirations to expand in Europe due to the growing population. The corporation intends to invest approximately US$ 42 million in a new facility in Saint-Gilles.
Segmentation of the Pet Relaxants Market :
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By Pet Type :
- Dogs
- Cats
- Other Pet Types
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By Form :
- Pills/Tablets
- Chewables
- Powders
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By Distribution Channel :
- Online
- Offline
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By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
- FAQs -
What value is the market estimated to reach in 2023?
The global market size is estimated to be valued at US$ 289.4 million in 2023.
What was the global market size for 2022?
The market was reported at US$ 268 million in 2022.
What valuation of the market is estimated to reach by 2033?
The market is expected to reach a valuation of US$ 540 million by 2033.
What value CAGR did the market exhibit over the last 4 years?
The market registered a CAGR of 8.2% over the last 4 years.
What is the projected CAGR for the Market from 2023 to 2033?
The market is projected to witness a CAGR of 6.4% from 2023 to 2033.
Through which pet category is the market expected to witness significant demand?
The market for dog pet relaxants is projected to witness significant demand with an expected CAGR of 6.2% by 2033.
Which form of pet relaxants are expected to witness significant demand?
Chewables as relaxants are projected to witness significant demand with an expected CAGR of 6% by 2033.
What is the expected market size in the United States by 2033?
The market in the United States is projected to witness a market size of US$ 191.3 million and is expected to grow at a 6.2% CAGR from 2023 to 2033.
Which are the key companies offering Pet Relaxants?
Key players in the market are Zoetis, VetriScience, Solid Gold Pet, LLC, Nootie, Vital Planet, Helopssa, Royce Naturals, FURALAND, Hemp Well, PREMIUM CARE, THUNDERWORKS, Pet Naturals, NaturVet, Feliway, Richard's Organics, Great Pet Media, Beaphar, and Or
Pet Relaxants Market