Market Overview:

Pet Food Nutraceuticals Market was worth USD 4.77 billion in 2018 and estimated to be growing at a CAGR of 4.12%, to reach USD 5.84 billion by 2023. 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.

Market Drivers and Restraints:

The growth of the global 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. However, 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.

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Report segmented as

By Ingredient Type:

• Omega 3 Fatty Acids
• Proteins and Peptides
• Milk Bio Actives
• Probiotics
• Dietary Fibre

By Function Type:

• Nutrition/Therapeutic
• Supplements

By Application:

• Weight Management
• Immune System
• Food Allergies
• Pain Relief
• Digestive Health
• Skin and Coat
• Eye Care

By Pet Type:

• Cats
• Fish
• Dogs
• Bird

Geographical Analysis:

Based on geography, the global market is analyzed under various regions, namely North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. North America and Europe are the primary users accounting for around 60% of the entire market. 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.

Important Market Players:

The major players in this market are focusing on 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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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

About Us:

Market Data Forecast is a firm working in the areas of market research, business intelligence, and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.

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