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The Pet Herbal/Supplement Market | |
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| | Executive Summary
According to a recent report released by the market research firm Business Communications Company, Norwalk, CT, pet supplement sales are predicted to reach at least US $1 billion by 2005, with growth projected at 17-22%. Fueling this growth is the demand of pet owners for the same type of health foods, herbal remedies, holistic medicine and organic products that they use themselves.
A study released by Ralston Purina in 2000 stated that twenty-nine percent of pet owners have sought or considered nutritional supplements as an alternative health remedy for their pet. Seven percent of pet owners have sought herbal remedies. Based on a rough estimate of the dog and cat populations in the US and Canada using a formula taken from the American Veterinary Medical Association's website this could mean a total of 1.7 million dogs in Canada plus 16.3 million dogs in the US could be receiving nutritional supplements. The number of cats receiving supplements in Canada could be 4.1 million plus 40 million in the United States. Four hundred and four thousand dogs in Canada and 3.9 million in the United States could use herbal remedies. The cat population receiving herbs could be nine hundred and ninety-nine thousand in Canada and 9.6 million in the States.
There does not seem to be any regulations prohibiting the sale of companion animal herbals or supplements in Canada or the United States. Neither the FDA in the United States nor the Canadian Food Inspection Agency (CFIA) in Canada seem to have any set regulations on the use of herbal or supplements in companion animals. Since these animals are very unlikely to become part of the human food chain there is less concern in this area about regulations. This lack of regulations would make it easier for a company to enter the market for this type of product.
Three possibilities for sales would be through holistic veterinarians, retail and pet stores or using an Internet site. Although some holistic veterinarians made some of their own herbals all bought from either herbal or pet nutraceutical companies. The number of retail and pet stores that are stocking herbals or supplements is also steadily growing. The variety of herbal and supplements now available is also growing. There are many Internet sites devoted exclusively to pet herbals and supplements.
Alberta has a small but growing herbal industry that could supply the herbal ingredients needed to make many of these products. This would give the herbal industry another outlet for their herbs and make for a more diversified industry. A company interested in making such herbals could contract out growers for the needed ingredients thus ensuring a stable supply. Contracting Alberta growers would also ensure them a market in which to sell their herbs thus encouraging further growth of this industry.
For a complete copy of this report get the .pdf file attached below.
Prepared by: Sarah Oliveira |
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For more information about the content of this document, contact Sarah Oliveira.
This document is maintained by Magda Beranek.
This information published to the web on October 17, 2002.
Last Reviewed/Revised on September 22, 2008.
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