Pet food nutraceuticals refer to functional ingredients added to pet food products to provide specific health benefits and improve the overall well-being of pets. These ingredients are chosen for their potential to support various aspects of pet health, such as joint health, digestion, skin and coat health, immunity, and cognitive function. Pet owners are increasingly seeking high-quality pet food products with added nutraceuticals to address specific health concerns and ensure their pets’ optimal health and longevity.
Key Highlights:
- Rising Pet Ownership and Humanization: The pet food nutraceutical market has experienced growth due to the increasing number of pet owners and the trend of humanization of pets. Pet owners are more conscious of their pets’ health and are willing to invest in premium pet food products with added health benefits.
- Health and Wellness Focus: As pet owners become more health-conscious themselves, they seek similar health-focused products for their pets. Nutraceuticals in pet food address specific health needs and are perceived as preventive measures to support pet well-being.
- Diverse Nutraceutical Ingredients: The market offers a wide range of nutraceutical ingredients for pets, including omega-3 fatty acids, glucosamine, chondroitin, probiotics, antioxidants, and herbal extracts. These ingredients are chosen based on their scientific evidence and potential benefits for different aspects of pet health.
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Analyst View:
- Premiumization of Pet Food: The demand for premium and specialized pet food products has grown as consumers seek high-quality nutrition for their pets. Nutraceuticals are often associated with premium pet food offerings, contributing to the market’s growth.
- Veterinarian Recommendations: The recommendation of pet food with specific nutraceuticals by veterinarians and pet healthcare professionals has positively influenced consumer perception and adoption of such products.
Market Overview
The pet food nutraceutical market has witnessed robust growth in recent years, fueled by the increasing awareness of pet health and the rising trend of pet humanization. Pet owners are no longer satisfied with conventional pet food and are seeking products that offer additional health benefits.
Nutraceutical ingredients such as omega-3 fatty acids are known for supporting skin and coat health, while glucosamine and chondroitin are commonly added to promote joint health in aging or active pets. Probiotics are used to support digestive health, and antioxidants help boost the immune system.
The market’s growth is further driven by the pet food industry’s continuous innovation and research into new and effective nutraceutical ingredients. Manufacturers are investing in R&D to develop pet food products tailored to address specific health concerns and cater to different life stages and breeds.
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Key Market Insights from the report:
The global pet food nutraceutical market projected to US $7.6Bn in 2023 and is projected to register a moderate CAGR of 14.20% over the forecast period. The market report has been segmented on the basis of pet type, function type, ingredient type, and region.
- By pet type, the target market is segmented into dog, cat, bird, fish, and others
- By function type, the global market is classified into nutrition/therapeutic and supplement.
- By ingredient type, the target market is bifurcated into milk bioactive, omega 3 fatty acids, probiotics, proteins and peptides, vitamins and minerals, and others.
- By region, the market in North America accounts highest revenue share to the global pet food nutraceutical market due to growing urbanization rate and income levels are the boosting factor for the global pet food nutraceutical market. The Asia- Pacific region is the expected to show significant growth during the forecast period due to increasing disposable incomes in the region.
The prominent player operating in the global pet food nutraceutical market includes:
- Kemin
- Symrise
- BASF
- Roquette Freres
- DSM
- Dupont
- Darling Ingredients Inc.
- Archer Daniels Midland
- Nestle Purina PetCare
- Boehringer Ingelheim Animal Health
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Questions by Pet Food Nutraceutical Market:
- What are the key market trends and market dynamics?
- Who are the major players in the market and what is their market share?
- What is the competitive landscape like in the market?
- What are the major drivers and restraints affecting the market?
- What are the growth opportunities in the market?
- What are the regional and local market conditions and consumer behavior?
- What is the market size and growth forecast for different regions and countries?
- What is the impact of government regulations and policies on the market?
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