Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by Infinium
Global Research on the functional pet food market provides in-depth analysis of
segments and sub-segments in the global as well as a regional functional pet food
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional functional pet food market over the short
term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of the global functional pet food market.
According to the report, the global functional pet food market is projected to
reach USD 3922 million by 2027 from USD 2372 million in 2021, growing at a CAGR of 9% over the forecast period of 2021-2027.
Functional pet food contains high
nutritional content such as Omega Fatty acids, probiotics, prebiotics, added
minerals, and vitamins that are essential in the diet of a pet to stay healthy.
There is a range of functional pet food products available in the market for different pets such as dogs and cats. Each pet category requires a certain set of
nutrition and amount of intake depending on the weight and size of the
pet. Functional pet food products are in
high demand all over the world as pet owners are increasingly focused on the
health of their pets. Growing research studies on the function of pet food products
commercially available in the market are asserting the benefits of these
products on the health of the pets and give crucial insights.
The ownership of pets around the
world is growing rapidly. The importance of pets as companions in homes has
increased severalfold over the past few years. This rapid growth in pet
ownership has led to an increase in the demand for functional pet food. Pet owners
pay close attention to the health of their pets, they take their pets to the
veterinary centers periodically and consult the doctor for an ideal nutritional
and balanced diet for their pet. Functional pet food offers a highly nutritional
and balanced diet for pets. Thus, this factor is majorly driving the growth of
the market. The accessibility and availability of functional pet food are
growing owing to the growth in the number of pet care stores, pet food retail
outlets, and their growing availability on e-commerce platforms. Many market
players are focusing on making their functional pet food available on all major
e-commerce platforms and online pet food marketplaces. The only factor that may
restrain the growth of the market is the high price of functional pet food
products. This may discourage pet owners from buying functional pet food
and instead settling for cheaper alternatives. New opportunities are expected to
rise as the number of e-commerce platforms only for pet food and care products are
growing.
The Functional Pet Food market is
regionally categorized into North America, Asia-Pacific, Europe, and RoW. North
America is expected to dominate the market over the forecast period. North
America has one of the largest populations of pets in the world which primarily
include cats and dogs. Also, the number of pet ownerships is only growing in
North America. Owning a pet is part of the lifestyle of people. With advanced
pet care facilities and ecosystem. The demand and availability of functional
pet food are high in North America. Europe is expected to hold the second-largest in the market
The report on the global functional
pet food market covers segments such as pet, ingredient, and application. On
the basis of pet, the sub-markets include dog, cat, and others. On the basis of
ingredient, the sub-markets include omega-3 fatty acids, prebiotics, probiotics,
minerals, vitamins, and others. On the basis of application, the sub-markets
include weight management, bone health, heart health, digestive health, brain
health, joint mobility, and others.
The report provides profiles of
the companies in the market such as Mars, Incorporated, Kerry Group, Nestlé
Purina PetCare Company, Archer Daniels Midland Company, DAR PRO Ingredients,
The Scoular Company, Blue Buffalo Co., Ltd, Isonova Technologies LLC, Koninklijke
DSM N.V., and Nisshin Pet Food Inc.
The report provides deep insights
into demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the functional pet food market. Moreover, the study highlights current
market trends and provides forecast from 2021-2027. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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