Worldwide Functional Pet Food Industry to 2030 – Product Innovation and Rise in Demand for Organic Application Presents Opportunities

DUBLIN, Oct 19, 2021 – (BUSINESS WIRE) – Added the “Functional Pet Food Market by Pet, Source, Application and Distribution Channel: Global Opportunity Analysis and Industry Forecast 2021-2030” report ResearchAndMarkets.com to offer.

The functional pet food market grew to 1,954.8 million in 2020.

Functional pet food is rich in nutrients, proteins, vitamins and minerals. It is gaining importance in developing countries due to the increasing humanization of pets and increasing disposable income. Pet health concerns have gained prominence in recent years due to stringent government regulations and owners’ love for their pets. For example, according to the Queensland government, owners are required to register their pets in some community areas and provide their pets with adequate food, shelter, and comprehensive care. The government also ensures full animal welfare in order to offer them the greatest care, love and the best possible quality of life. However, as people’s disposable income increases, pet owners are able to spend on nutritious and organic food to minimize the risk of possible animal disease. Consumers are becoming more curious and aware about the general health of pets, which is expected to increase the demand for products aimed at promoting better health, increasing lifespan, and various diseases such as sedation, hip and joint problems, and skin – and prevent coat problems.

Pet owners treat their cats, dogs, and other pets like their family members, and this increased humanization of pets has led to an increase in consumer preferences for natural and organic products and healthy ingredients. It therefore offers niche manufacturers a lucrative opportunity to offer organic, natural and allergen-free products. In addition to natural products, innovations in special and premium cat food products would stimulate the market. Popular premium products include Hill’s Science Diet Senior Age Defying Cat Food, Purina Veterinary Diets’ Hypoallergic Feline Formula Cat Food, and Hill’s Prescription Diet Feline Thyroid Health cat food to promote dental and oral health.

The story goes on

However, the lack of awareness of the concept of functional pet food and proper pet nutrition guidelines and suggestions, especially in developing countries including India and China, is expected to significantly hamper the growth of the functional pet food market during the forecast period. Additionally, people from rural areas feed their pets scraps of food, milk, and meat, which is hindering the brand’s growth.

The Functional Pet Food Market is divided into Pets, Origin, Application, Distribution Channel, and Region. On the basis of pets, the market is divided into dogs, cats, and others. Based on the origin, the market is divided into organic and conventional. When used, it is divided into bone health, brain health, obesity, heart health, and others. Depending on the sales channel, it is divided into pet stores, pharmacies, veterinary clinics, online stores and others. By region, it is analyzed in North America (USA, Canada and Mexico), Europe (Germany, UK, France, Russia, Italy, Spain and the rest of Europe), Asia-Pacific (China, India, Japan), Australia, South Korea and the rest of Asia -pacific region) and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa and the rest of the LAMEA).

Main benefits for stakeholders

  • The study provides an in-depth analysis of the global Functional Pet Food Market with current and future trends to enlighten the upcoming investment pockets in the market.

  • The report contains information about drivers, restrictions and opportunities with impact analysis.

  • A quantitative analysis from 2020 to 2030 is provided to show the financial literacy of the market.

  • Porter’s five forces model of the industry illustrates the competitiveness of the market by analyzing various parameters such as threat from new entrants, threat from substitutes, bargaining power of buyers and bargaining power of suppliers in the market.

  • The value chain analysis in the report provides a clear understanding of the roles of the stakeholders involved in the value chain.

  • Competitive Intelligence reveals business practices that are being followed by leading market players in different regions.

Market dynamics

driver

  • Growing trend towards humanizing pets

  • Raise awareness of pet health

  • Rapid growth in retail and pet stores

Restrictions

  • Traditional ways of feeding pets

  • Lack of awareness of the benefits of functional pet food

  • Increasing the rules on pet food

Opportunities

Mentioned companies

  • DAR PRO ingredients

  • Kerry group

  • Archer-Daniels-Midland Company

  • The Scoular Company

  • Arugula Freres

  • Isonova Technologies LLC

  • PDM Group (Prosper De Mulder Ltd)

  • Nestlé Purina PetCare Company

  • Bacterial field

  • Petcurean Pet Nutrition USA Inc

Please visit https://www.researchandmarkets.com/r/4jy7oc for more information on this report

View source version on businesswire.com: https://www.businesswire.com/news/home/20211019005989/en/

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