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Pet Food Nutraceutical Market 2019 Analysis by Market Size, Key Technologies, Market Trends, Key Companies, and Regional Forecast to 2024 – Influential Businessman

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Pet Food Nutraceutical

This “Pet Food Nutraceutical Market” report provides a detailed study on market and how it is impacting the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry. In addition, the report also mentions opportunities that manufacturers operating in the global Pet Food Nutraceutical market can use for expanding their business in untapped market to increase their customer base.

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Market Overview:

  • The global pet food nutraceutical market was valued at USD 6.3 billion in 2019, and is expected to register a CAGR of 4.8% during the forecast period (2019-2024). In 2018, North America was the largest geographic segment of the market studied and accounted for a share of around 47% of the overall market, while Asia-Pacific was the fastest-growing region.
  • The increasing number of single families, rising animal healthcare costs, aging pet population, and poor outcomes of the use of drugs have led to consumers looking for alternatives in the form of natural and organic products. Supplements are used as alternatives to drugs, by the veterinary community. The addition of active ingredients based on intended functionality is making supplements therapeutic and nutritional treats.

    Pet Food Nutraceutical Market Covers Manufacturers:

  • Kemin Industries
  • Symrise AG
  • BASF SE
  • Roquette Freres
  • DSM Nutritionals
  • Darling International Inc
  • Archer Daniels Midland Company
  • Nestle SA (Purina Petcare)
  • Boehringer Ingelheim Animal Health
  • Novotech Nutraceutical
  • VIT2be
  • Diana Group

    Scope of the Report:

  • Nutraceuticals are categorized as dietary supplements, functional foods, or medicinal foods. Nutritional supplements for pets are products that provide a source of recognized essential nutrient, like calcium or vitamin A. They are intended to work as supplements and ensure the nutritional completeness of the diet in pets. The supplements are being marketed not only as pills/powders, but also as ingredients in pet foods/gravies/snacks. The other alternative delivery formats that are gaining shares, due to the preference for pet palatability, include gels and pastes, as well as gravies and powders, designed to be added to pet food.

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    Key Market Trends:

    Increasing Number of People Adopting Pets

    Due to changes in lifestyle, pet humanization is on the rise in different countries. The increasing pet ownership among younger generations, in particular, consumed by social media and adoption of the western lifestyle, is the main driver of the market. Hence, an increasing number of people in the country are treating pets as members of the family. The rise of the middle class and easy access to the internet are a few other drivers contributing significantly to the growth of the market. Urbanization trends in many countries have also contributed to the growth in sales of prepared pet foods, as these products are more convenient and more suitable for the busy lifestyles of urban dwellers. An important part of pet humanization is the safety and nutritional needs of pets, which is also a result of consumers being educated about labeling and the ingredients used in products. Although these extra considerations come at a higher cost, the rise of the middle-class population in the world, coupled with higher disposable income, is contributing to the sales of commercial pet foods, globally.

    North America Dominates the Global Market

    The North American market is the first respondent to any major global trend or consumer pattern; the high level of market penetration and corresponding infrastructure are cited as reasons for the pioneering attitude. The concept of pet humanization’ is the major trend that is consolidating both the pet care and pet food markets into a sense of overall pet well-being. One significant outcome of this trend is the consumer focus toward nutraceutical foods and remedies from the comfort or treat foods. This focus is well visible in the marketing and new product launches of the major firms.

    The United States is expected to lead the pack, followed by Canada and Mexico. The rapid increase in urbanization rates and income levels that are expected of Mexico are fuelling the high expectations of the market. The increasing forces of globalization and infrastructure improvement are giving rise to considerable growth in the other regions of North America.

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    Target Audience of Pet Food Nutraceutical Market:

    • Manufacturer / Potential Investors
    • Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
    • Association and government bodies.

    Key Reasons to Pet Food Nutraceutical Market Report:

    • Analyzing various perspectives of the Pet Food Nutraceutical market with the help of Porter’s five forces analysis
    • The End User that is expected to dominate the Pet Food Nutraceutical market is analyzed in detail
    • The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of Pet Food Nutraceutical market.
    • Identify the latest developments, market shares and strategies employed by the major market players.
    • Regional analysis of Pet Food Nutraceutical market studied, during the forecast period
    • The segments that are expected to dominate the Pet Food Nutraceutical market studied.

    About Industry Research:

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    Our Other Report: Minivan Market 2019 Industry Overview, Key Players Analysis, Emerging Opportunities, Comprehensive Research Study, Competitive Landscape and Potential of Industry from 2019-2023


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