Global Pet Food Nutraceutical Market Segmented By Product Type, End-Use Type and Geography – Growth & Forecast, 2029

The report " Global Pet Food Nutraceutical Market, By Pet Type (Dog, Cat, Bird, Fish, and Others), By Function Type (Nutrition/Therapeutic and Supplement), By Ingredient Type (Milk Bioactive, Omega 3 Fatty Acids, Probiotics, Proteins and Peptides, Vitamins and Minerals, and Others), and Region - Global Forecast to 2030" Global pet food nutraceutical market is projected to grow US $7.6Bn in 2023. Rise in number of pet adaptation among the people is the major driving factor for the growth of the global market. Additionally, the increasing in the nuclear families is encouraging people to have a pet is another propelling factor for the growth of the target market. However, the strict regulatory bodies and stringent regulation on pets is the main restraining factor for the growth of the global market. For instance, as per the nutritional adequacy statement requirements, any manufacturers product claim of it being balanced, complete, and 100% nutritious' is seen as unsafe by FDA, the nutritionally, product is not adequate on its own. Moreover, the lack of recognition of pet food in the developing countries due to low income is another hampering factor for the growth of the global market. Nevertheless, the retail grocery chains dominating distribution and marketing space can create strong opportunity for the growth of the global market.

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Key Highlights:

In 2018, Roquette Freres launched a new pea production unit at the Vic-sur-Aisne site for nutrition, health and food markets.
Key Market Insights from the report:

The global pet food nutraceutical market projected to US $7.6Bn in 2023 and is projected to register a moderate CAGR of 14.20% over the forecast period. The market report has been segmented on the basis of pet type, function type, ingredient type, and region.

By pet type, the target market is segmented into dog, cat, bird, fish, and others
By function type, the global market is classified into nutrition/therapeutic and supplement.
By ingredient type, the target market is bifurcated into milk bioactive, omega 3 fatty acids, probiotics, proteins and peptides, vitamins and minerals, and others.
By region, the market in North America accounts highest revenue share to the global pet food nutraceutical market due to growing urbanization rate and income levels are the boosting factor for the global pet food nutraceutical market. The Asia- Pacific region is the expected to show significant growth during the forecast period due to increasing disposable incomes in the region.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " By Pet Type (Dog, Cat, Bird, Fish, and Others), By Function Type (Nutrition/Therapeutic and Supplement), By Ingredient Type (Milk Bioactive, Omega 3 Fatty Acids, Probiotics, Proteins and Peptides, Vitamins and Minerals, and Others), and by Region – global forecast till 2030

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The prominent player operating in the global pet food nutraceutical market includes Kemin, Symrise, BASF, Roquette Freres, DSM, Dupont, Darling Ingredients Inc., Archer Daniels Midland, Nestle Purina PetCare, and Boehringer Ingelheim Animal Health

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