The Boom of the Veterinary Supplement Market /
During the pandemic, there was a drastic rise in the global veterinary supplement market which was valued at $6.5b in 2020, believed to be caused by the increase in pet-owning households. The animal industry has a strong impact on the overall economy of a country, and in a world where there are 429,761 horses in the UK and 2 million horse owners in the US; it is no secret that there is a demand for equine veterinarians, their knowledge, and their supplement recommendations.
The equine industry plays a major role in the economy of many countries; it has brought an estimated $39b-$63b in 2016 to the United States economy. This industry brings in jobs for equestrians, veterinarians, show companies, and many more all of which add to the economy. The high economic value and popularity of the equestrian industry has created the possibility for these health supplements to prosper, with the most growth being seen in North America as it is currently dominating the equine and supplement industry.
These factors have led to significant growth of the equine supplement industry, and over the past 20 years, we have seen a dramatic increase in the array of supplements available, with several studies reporting that joint supplements and electrolytes are most commonly used within the UK and US.
It is important that horse owners have sufficient knowledge to make informed decisions about supplementing their horse’s diet, and it is encouraging that a 2018 study found that 90% of respondents said that veterinary recommendation was the most influential factor when choosing a supplement. It is important that veterinarians and experts continue to educate horse owners about their horses’ nutritional needs in order to allow the supplement industry to continue to flourish. If you are an equine veterinarian, read our guide on "7 Ways to Drive Online Traffic to Your Equine Veterinarian Practice".
Do horses need supplements?
There is often some debate around veterinary supplements, and there are opinions that they are just a money grab for those in the industry as there are only a few key big players in this market. However, many businesses offering veterinary supplements have equine health and welfare at the core of their values; you just have to do your research to find products that have proven results and scientific research behind them. G’s Organics, for example, developed an all-natural, organic, GMO-free digestive aid which is backed by published research and has helped so many horses suffering from ulcers and gastrointestinal issues. Not all horses require supplements if their nutritional needs are already being met by their diet and they do not have any health problems, however, there are a huge number of horse owners who rely on supplements to alleviate joint or respiratory issues, for example. Many of these supplements are completely natural and can transform our horses’ performance and more importantly: their health and happiness.
At the end of the day, many horse owners would do anything to optimise their horse’s health and well-being, as they are not just commodities, they are loved and well cared for members of the family. Buying supplements can not only help us provide a nutritionally balanced diet for our horses, but also aids the growth of the equine industry as it brings more economy and employment.
Whether you see the boom as a negative or positive, the trends show that this market will likely continue to grow up to 6.5% between 2021 and 2031, and continue to grow the equine industry and the global economy, so if fed responsibly and with the recommendation from a professional, then we believe that the positives far out-weigh the negatives.
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