Pet Food Nutraceuticals Market

Pet Food Nutraceuticals Market Growth 2022 - 2027:

The Pet Food Nutraceuticals Market was worth USD 4.77 billion in 2021 and is estimated to be growing at a CAGR of 4.12%, to reach USD 5.84 billion by 2026.

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.

PET FOOD NUTRACEUTICALS MARKET REPORT COVERAGE

Market Segmentation:

Pet Food Nutraceuticals MarketIngredient Type:

• Omega 3 fatty acids

• Proteins and Peptides
• Milk Bio actives
• Probiotics
• Dietary Fiber, and others.

Pet Food Nutraceuticals MarketFunction Type:

• Nutrition/Therapeutic and Supplements.

Pet Food Nutraceuticals MarketPet Type:

• Cats
• Fish
• Dogs
• Bird, and others.

Pet Food Nutraceuticals MarketApplication Type:

• Weight Management, Immune system
• Food Allergies
• Pain Relief
• Digestive health
• Skin and Coat
• Eyecare, and others.

Pet Food Nutraceuticals Market is geographically divided into:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle-East & Africa.

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.