The global pet food nutraceutical products market is estimated to grow from US$XX in 2017 to US$XX in 2022, at a CAGR of XX% during the forecast period.
Technically, a nutraceutical is a pharmaceutical-grade and standardised product. Earlier it was just limited for humans. But presently due to the increasing trend of keeping pets, has resulted in the synthesis of advanced pet foods. It is mostly served as dietary or therapeutic supplements. Dietary supplements are usually combined with the normal pet foods to make them nutritionally balanced. Therapeutic supplements (known as the nutraceuticals), on the other hand, are administered orally by the pets to gain significant health advantages.
The major end-users for this product are mainly households, veterinary clinics, pet centres, animal farms etc.MARKET DYNAMICS
The following factors are significant in deciding the fate of the market:
--> Increasing urbanisation, changing lifestyles and increased occurrence of single person families have lead to the consideration of pets as family members. This combined with the growing mentality of pet humanisation has led to people spending handsomely on pet products.
--> Conforming to the famous words prevention is better than cure these are largely used in deterrence to diseases. But these are also used to cure many age-associated diseases like joints deterioration and cognitive dysfunction.
--> The nutraceutical pet foods are often found not complying with the advertised benefits and promises, creating trust issues within the consumers, which in turn seriously affects the acceptance of the same.
--> Piracy and production of counterfeit products hamper the sales and also creates problem for the consumers (for their poorer quality).
--> Lack of recognition of pet products in the under-developed countries.
The market opportunities mainly lie in focusing on segment wise production of the nutritional food targeting specific aspects related to the size of the pet animal or the benefit provided. Successful researches could widen the range of applications and improve the safety standards thus increasing the sales.
The market could be segmented into the following categories:
By ingredient type:
> Omega 3 fatty acids
> Proteins and Peptides
> Milk Bio actives
> Dietary Fibre
By function type:
By application type:
> Weight Management
> Immune system
> Food Allergies
> Pain Relief
> Digestive health
> Skin and Coat
> Eye care
By pet type:
By application type:
> Latin America
> Africa and Middle-East
On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. North-America and Europe enjoys the lions share enjoying around 60% of the total market share. USA is currently thelargest consumer. Asia-Pacific market is enjoying the fastest growth and has the highest CAGR mainly due to the high population of the developing countries (like India and China). Latin America and the middle-East and African regions have also hit positive notes.
Some of the major players in the market are:
Royal DSM NV
> Market segments
> Market Drivers, Restraints and Opportunities
> Market Size & Forecast 2016 to 2022
> Supply & Demand Value Chain
> Market - Current Trends
> Competition & Major Companies
and R&D Status
> Porters Five Force Analysis
> Strategic and Critical Success Factor Analysis of Key PlayersRegional Analysis:
> North America
>> US and Canada
> Latin America
>> Mexico, Brazil, Argentina and Rest of Latin America
> Western Europe
>> EU5 (Germany, France, Italy, Spain, U.K.)
>> Nordic Countries (Denmark, Finland, Norway, and Sweden)
>> Benelux (Belgium, The Netherlands, and Luxembourg)
>> Rest of Western Europe
> Eastern Europe
>> Rest of Eastern Europe
> Asia Pacific
>> Australia and New Zealand
>> Rest of Asia Pacific
> Middle East and Africa
>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
>> South Africa
>> North Africa
>> Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.Report Highlights:
> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
> Consumer and Pricing Analysis
> Market dynamics of the industry
> Market Segmentation
> Estimated Market Sizing in terms of volume and value
> Recent trends in Market and impact
> Research Status and Technology
> Extensive Industry Structure Coverage
Publisher Name : Market Litmus