The health-conscious user perceives nutrition-enabled foods as a substitute for healthcare expenses, thereby driving the growth of the global nutraceutical market.
The pet food nutraceuticals market is characterized as dietary supplements, functional or medicinal food products that supply a source of a standard vital nutrient, like calcium or vitamin A. They are meant to function as supplements and guarantee the nutritional wholeness of the pet diet.
Drivers & Restraints:
The growth of the Pet Food Nutraceuticals market is majorly driven by factors such as an increasing number of people adopting pets, user attitudinal transformation towards pets with curiosity on their nutrition and health, and rapid urbanization. How pet food in under-developed countries due to low incomes. ever, factors such as different regulatory bodies and lack of raw materials are restraining the growth of the market. Another major challenge for the market is the lack of recognition of pet food in under-developed countries due to low incomes.
REPORT METRIC |
DETAILS |
Market Size Available |
2021 – 2026 |
Base Year |
2020 |
Forecast Period |
2022 - 2027 |
CAGR |
4.12% |
Segments Covered |
By Ingredient Type, By pet type By Function Type, Application type |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
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Market Segmentation:
Omega 3 fatty acids
Pet Food Nutraceuticals Market is geographically divided into:
North America and Europe are the main users accounting for around 60% of the entire market. The U.S. is the major market and is also projected to be the fastest-growing country in North America. The Asia Pacific market has the highest CAGR due to factors such as increasing urbanization and growing disposable incomes, thereby leading to increased adoption of pets.
Major Key Players:
The major players in this market are focusing in the areas of Digestive health, weight management, and beauty (Skin and Coat). The major companies dominating the global Pet Food Nutraceuticals market are Diana group, BASF SE, Chr. Hansen A/S, Kemin Industries Inc., Nutraceutical International LLC, and Royal DSM N.V.
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