Functional pet food Market by Pet, Source, Application, and Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2021–2030

Functional pet food Market by Pet, Source, Application, and Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2021–2030

  • July 2021 •
  • 377 pages •
  • Report ID: 6126720 •
  • Format: PDF
Functional pet food Market by Pet (Dog, Cat, and Others), Source (Organic and Conventional), Application (Bone Health, Brain Health, Obesity, Heart Health and Others), and Distribution Channel (Pet Stores, Pharmacies, Veterinary clinics, Online Stores and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

The functional pet food market was valued at $1,954.8 million in 2020, and is estimated to reach $4,676.1 million by 2030, registering a CAGR of 8.8% from 2021 to 2030.
Functional pet food has rich source of nutrients, proteins, vitamins, and minerals. It is gaining significant traction among developing countries, owing to increasing pet humanization and rising disposable income. The concern regarding pet health has gained major importance since the last few years, owing to stringent government regulations and owners’ love toward their pets. For instance, as per the Queensland Government, the owners are required to register their pets in some council areas and provide their pets with appropriate food, shelter, and total care. The government also ensures complete animal welfare to provide utmost care, love, and best possible quality of life to them. However, with rising disposable income of people, pet owners are capable of spending on nutritious and organic food to minimize the risk of any possible animal disease. Consumers are becoming more curious and conscious about the overall health of pets, which is expected to surge the demand for products that aim to promote better health, increase longevity, and prevent various diseases such as calming, hip & joint, and skin & coat problems.
Pet owners treat their cats, dogs, and other pet animals as their family members and this increase in pet humanization has witnessed growth toward consumers’ preferences for natural & organic products and healthy ingredients. Therefore, it creates lucrative opportunity for niche manufacturers to offer organic, natural, and allergen-free products. In addition to natural products, innovation in specialty and premium cat food products would foster the market. Some of the 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.

However, lack of awareness regarding the concept of functional pet food and proper guidelines & suggestions regarding how to nourish pets, especially in developing countries, including India and China are considerably expected to hinder the growth of the functional pet food market during the forecast period. Furthermore, people from rural areas feed their pets with leftover meals, milk, and meat, which hampers the growth of the market
The functional pet food market is segmented into pet, source, application, distribution channel, and region. On the basis of pet, the market is categorized into dog, cat, and others. On the basis of source, the market is bifurcated into organic and conventional. By application, it is segregated into bone health, brain health, obesity, heart health, and others. Depending on distribution channel, it is divided into pet stores, pharmacies, veterinary clinics, online stores, and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and rest of LAMEA).
The major players operating in the market are DAR PRO Ingredients, Kerry Group, Archer-Daniels-Midland Company, The Scoular Company, Roquette Frères, Isonova Technologies LLC, PDM Group (Prosper De Mulder Ltd), Nestlé Purina PetCare Company, Bacterfield, and Petcurean Pet Nutrition USA Inc.

KEY BENEFITS FOR STAKEHOLDERS
• The study provides an in-depth analysis of the global functional pet food market, with current and future trends to elucidate the imminent investment pockets in the market.
• The report provides information regarding drivers, restraints, and opportunities with impact analysis.
• A quantitative analysis from 2020 to 2030 is provided to showcase the financial competency of the market.
• Porter’s five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
• Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
• Competitive intelligence highlights business practices followed by leading market players across various regions.

KEY MARKET SEGMENTS
• By Pet
o Dog
o Cat
o Others
• By Source
o Organic
o Conventional
• By Application
o Bone Health
o Brain Health
o Obesity
o Heart Health
o Others
• By Distribution Channel
o Pet Stores
o Pharmacies
o Veterinary Clinics
o Online Stores
o Others
• By Region
o North America
U.S.
Canada
Mexico
o Europe
Germany
France
UK
Italy
Spain
Russia
Rest of Europe
o Asia-Pacific
China
Japan
Australia
India
Rest of Asia-Pacific
o LAMEA
Brazil
Argentina
Saudi Arabia
South Africa
Rest of LAMEA