Transparency Market Research (TMR) has published a new report
titled, “Equine Supplement Products Market - Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast, 2019–2027”. According to the report, the global equine
supplement products market was valued at US$ 75.2 Mn in 2018 and is
projected to expand at a CAGR of 3.5 % from 2019 to 2027. Increase in incidence
of equine diseases, rise in demand for protein/amino acid supplements, and
surge in awareness about preventive care among equine owners are anticipated to
augment the global equine supplement products market from 2019 to 2027.
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Growth
of Equine Health Industry
Incidence
of equine diseases is increasing, with joint infections, bacterial infections,
and upper respiratory infections being the most common health concerns.
Therefore, demand for equine health products including supplements containing
vitamins, minerals, amino acids, and other micro-nutrients is increasing. In
case of racing horses, the horse owners and caretakers focus on improving joint
& digestive health and performance recovery. They also take consultation
from veterinary health care providers to better understand the use of horse
feeds & supplements to promote growth and overall health of horses.
Furthermore, rise in trend of gambling, horse racing, and sports provides
opportunities for market players in the equine health industry. Horse racing
has become a royal sport in developed as well as developing countries. This is
likely to boost the growth of the market during the forecast period. Moreover,
orthopedic injuries in young horses have a significant economic impact, and
hence is crucial to tackle the health concerns of horses and improve their
health.
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Increase
in Awareness about Preventive Care among Equine Owners
Increase in
awareness about preventive care among horse owners and trainers and rise in the
use of micronutrient-based equine supplements to improve joint health are
anticipated to boost the growth of the market during the forecast period.
Moreover, horse owners are aware of high prevalence of equine lameness and
metabolic disorders among horses, and hence use equine supplements to improve
equine health and avoid alleviation of health conditions.
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Strategic
Approaches by Market Players to Boost Market Share
The report
also provides profiles of leading players operating in the global equine
supplement products market. These include Zoetis, Boehringer Ingelheim
International GmbH, Bayer AG, Equine Products UK LTD, Purina Animal Nutrition
LLC., Vetoquinol S.A., Kentucky Equine Research, Plusvital Limited, Lallemand,
Inc., and Virbac. Partnerships, new product launches, and mergers &
acquisitions are the key strategies adopted by market players to increase
product sales and capture market share. For instance, in November 2017,
Plusvital Limited launched EnerGene-Q10, nutrigenomic supplement to expand its
equine supplements product portfolio and gain market share.
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Transparency
Market Research is a global market intelligence company, providing global
business information reports and services. Our exclusive blend of quantitative
forecasting and trends analysis provides forward-looking insight for thousands
of decision makers. Our experienced team of Analysts, Researchers, and
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repository is continuously updated and revised by a team of research experts,
so that it always reflects the latest trends and information. With a broad
research and analysis capability, Transparency Market Research employs rigorous
primary and secondary research techniques in developing distinctive data sets
and research material for business reports.
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