For a long time, the cure for diabetes type 1 and type 2 has relied on agonizing insulin shots for patients or insulin infusion via mechanical pumps. Regarding this, experts have been creating artificial pancreatic beta cells with the he…
Market Overview of Global Horse Supplements market:
According to our latest research, the global Horse Supplements market looks promising in the next 5 years. As of 2022, the global Horse Supplements market was estimated at USD 823.93 million, and it's anticipated to reach USD 1121.4 million in 2028, with a CAGR of 5.27% during the forecast years.
Horse Supplements refer to a range of dietary supplements and nutritional products specifically designed for horses. These products are formulated to enhance the overall health, performance, and well-being of horses by providing them with essential nutrients they may be lacking in their daily diets. Horse supplements come in a variety of forms such as powders, granules, liquids, and treats, and are widely used by horse owners, trainers, and breeders. Horse supplements are designed to meet the specific nutritional needs of horses, which can vary based on factors such as age, breed, activity level, and health. These horse supplements are formulated to provide additional vitamins, minerals, amino acids, and other essential nutrients to support all aspects of horse health including joint health, digestive function, coat and hoof quality, immune system strength, and overall performance.
Influence of COVID-19 Outbreak on Horse Supplements Industry Development
A recession is a period in the business cycle when economic activity declines (usually measured as a decline in gross domestic product or GDP growth). A recession is usually defined as two consecutive quarters of decline in GDP. A recession leads to higher unemployment, lower incomes, lower consumer spending, higher rates of business failures, and a lower stock market. Recessions come from many different sources, including financial bubble bursts, credit crunches, and pandemics, such as the COVID-19 pandemic.
There are two kinds of "normal" economic goods, necessities and luxuries. Normal goods are those for which demand increases when income increases. The growth rate of demand determines whether a common good is a necessity or a luxury. When income increases, demand for luxury goods increases at an increasing rate; however, when income decreases (such as during a recession), demand decreases at an increasing rate. Therefore, industries involving luxury goods are more volatile than those involving necessities. In an economic sense, the horse market is like a luxury market and therefore more volatile.
The immediate impact of the COVID-19 closures has been felt mainly in tournaments and sales, and perhaps to a lesser extent in the boarding and training business. The closures have resulted in the cancellation or postponement of local, regional, national, and international equestrian events, including the postponement of the 2020 Olympics and the cancellation of more than 2,900 FEI events in the three months since COVID-19 restrictions were imposed. Losing these games has many negative consequences, including loss of regional economic development, loss of personal income, and loss of organizational income. The closures have also resulted in a "clogging" of the pipeline in the horse market as sales have been canceled, delayed, or drastically reduced.
Boarding and training businesses around the world are facing various restrictions. In some areas, horseback riding is banned and barns are closed to all but essential workers. There was a time when many equestrian professionals were unable to teach, coach, and guide in competition. Equine veterinary clinics temporarily postponed elective surgeries when COVID-19 restrictions began. With restrictions gradually lifted, they are now able to operate close to normal, with human protection still in place. The hay and forage market, which is more sensitive to weather changes, appears to be unaffected in the early days, but mid-late in the COVID-19, there are labor shortages, availability issues, and/or price increases in that market. As the horse market has been hit harder during the COVID-19 pandemic, the horse supplement market has also been in a downturn.
The rising incidence of equine diseases is expected to drive global horse supplements market growth
The incidence of equine disease worldwide has increased over the past few years. Joint infections, microbial infections, and hypermetabolic infections are common infections in horses, and horses in North America can suffer from equine infectious anemia, salmonellosis, clostridial enteritis, and other diseases. Equine inflammatory viral infections and animal diseases are the main equine diseases reported in horses in Europe. According to the USDA, encephalitis (EEE), Japanese equine infectious anemia (EIA), equine viral arteritis (EVA), and West Nile virus (WNV) are among the most frequently reported equine diseases in the country. Additionally, horse owners and caregivers are increasingly recognizing the importance of optimal nutrition for the overall health and well-being of horses. This growing awareness is also expected to drive the demand for horse supplements.
The benefits horse supplements provide to horses are expected to boost their market growth
Horse owners and caretakers often use horse supplements to add extra nutrients to their horses' diets. These supplements help prevent electrolyte, vitamin, and mineral deficiencies, and improve the overall health of horses, balancing their diets to enhance their athletic performance. Horse supplements are of great importance as nutritional food due to benefits such as mitigating health problems, preventing their occurrence, and modifying the behavior of horses. Nutrients such as methionine, biotin, and zinc support equine health with probiotics that improve digestive health. In addition, consuming horse supplements improves cutin, making your horse's coat and skin healthier by enhancing collagen and keratin production. Additionally, some specific types of supplements can help improve joint health and improve synovial fluid support. High-performance horses are constantly expending energy and require higher-than-normal levels of protein, which ordinary feed cannot provide. Therefore, high-quality horse supplements, allow the horse to restore its stores of adenosine triphosphate (ATP), the main molecule that stimulates muscle contraction in horses. Hence, the advantages afforded by the balanced consumption of horse supplements are likely to account for the market growth over the forecast years.
Region Overview:
From 2023-2028, North America is estimated to witness robust growth prospects.
Company Overview:
Alltech is one of the major players operating in the Horse Supplements market, holding a share of 11.96% in 2022.
Alltech is an animal health and nutrition company. It provides natural nutrition products, solutions, and technical information and support to the animal nutrition and feed industries. The company's product and service portfolio includes yeast cultures and extracts, enzymes, organic minerals, bioactive proteins, flavors, and direct-fed microorganisms for the treatment of mastitis, health, and immune problems. These products can be used in animal reproduction, productivity, and fecundity of pigs, poultry, horses, aquaculture products, dairy cows, and more.
HYGAIN has grown to become the world's leading authority on horse nutrition. As a horse-only feed mill and manufacturing facility, HYGAIN® is dedicated to the horse and its specific requirements, providing outstanding nutritional solutions that truly improve the health, performance, and well-being of horses.
Segmentation Overview:
Among different product types, Joint supplement segment is anticipated to contribute the largest market share in 2028.
Application Overview:
By application, the Veterinary Hospital Pharmacies segment occupied the biggest share from 2018 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Horse Supplements market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Horse Supplements Market Report:
Market Size Estimates: Horse Supplements market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Horse Supplements market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Horse Supplements market
Segment Market Analysis: Horse Supplements market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Horse Supplements market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Horse Supplements Market: Revenue and sales volume of major countries in each region
Horse Supplements Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Horse Supplements market in major regions.
Horse Supplements Industry Value Chain: Horse Supplements market raw materials & suppliers, manufacturing process, distributors, downstream customers
Horse Supplements Industry News, Policies & Regulations
Key players in the global Horse Supplements market are covered in Chapter 12:
Hygain Group
Finish Line Horse Products
Mars Horsecare (Buckeye Nutrition)
Virbac
Kentucky Equine Research
Boehringer Ingelheim International
Vetoquinol
Lallemand Animal Nutrition
Alltech
Purina Mills
Zoetis
Plusvital
Vets Plus, Inc.
In Chapter 2 and Chapter 15.1, based on types, the Horse Supplements market from 2018 to 2028 is primarily split into:
Skin & Coat horse supplements
Calming horse supplements
Joint supplement
Digestive supplements
Others
In Chapter 3 and Chapter 15.2, based on applications, the Horse Supplements market from 2018 to 2028 covers:
Veterinary Hospital Pharmacies
Retail Pharmacies
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Horse Supplements market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028