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2021
Functional Pet Food Market

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
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A11855
Pages: 377
Jun 2021 | 2800 Views
Author(s) : Anil Kamble , Roshan Deshmukh
Tables: 153
Charts: 64
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COVID-19

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The functional pet food market size 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.

 

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Functional pet food is an alternative to traditional pet food, which is increasingly given for pet’s healthy life. Functional pet food is rich in nutrients, protein, vitamins, and minerals. Functional food is gaining significant traction among pet owners due to benefits associated with functional pet food to improve immune system strength, bone, brain, & muscle health, reduce postprandial glucose and insulin concentrations, and prevent diabetes‐related disorders. Furthermore, growing pet humanization and increasing spending on pet grooming & food are expected to boost the growth of the functional pet food market during the forecast period. Functional pet food provides essential nutrients, which help to improve the health of various pets, including dogs, cats, freshwater fish, reptiles, horses, and birds.

The outbreak of the COVID-19 pandemic has positively affected the functional pet food market due to undermined and unintended consequence of COVID-19 pandemic. The global functional pet food market was growing at a strong rate before the pandemic due to growing pet humanization, concerns about animal welfare, and increasing spending on animal health and grooming. However, during the lockdown period, people got more concerned about pet health and their own health, resulting in significant adoption of functional food to stay healthy. Furthermore, certain COVID-19 repercussions and above factors that accelerated the market growth and are expected to sustain this growth during the forecast period.

Functional Pet Food Market
By Pet

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Dog segment helds the major share of 69.1% in 2019

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According to the functional pet food market analysis, the 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, France, the UK, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and Rest of LAMEA).

On the basis of pet, the dog segment accounted for about half of the global functional pet food market in 2020, and is expected to maintain this trend during the functional pet food marketforecast period. Dog is popularly considered for petting, owing to various reasons and personal interest such as dog encourages owners for exercise, they are truly stress busters, and more importantly they are more resistant to allergies, which means they can adapt themselves in any condition. Increase in mental disorders, including depression is a major cause of busy lifestyle and loneliness, which encourages people to adopt dog as pets. Furthermore, dogs are most loyal animals as compared to other pet animals and can be adopted for home protection. Therefore, increase in adoption of dog and rise in spending for health wellness are expected to boost the growth of the market during the forecast period.

Functional Pet Food Market
By Source

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Conventional segment helds the major share of 81.6% in 2019

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According to the functional pet food market trends, depending on application, the obesity segment was valued at $446.5 million in 2020, and is expected to reach $1,099.7 million by 2030 at a CAGR of 9.1%. 

Obesity functional pet foods are significantly purchased for pets to reduce obesity and obesity derived problems, including breathing problems. Obese dogs, cats, and other pet animals can have lower life expectancy as compared to the non-obese pet animals. Obese cats have increased risk of diseases affecting the mouth and urinary tract. Pet owners have shown increased interest in holistic, natural diets containing wholesome ingredients, such as oats and barley, which can reduce the risk of obesity. Increase in prevalence of obesity disorders among pets coupled with rise in concerns among pet owners is expected to increase the functional pet food market share.

Functional Pet Food Market
By Application

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Others segment helds the major share of 47.0% in 2020

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On the basis of source, the organic segment was valued at $358.9 million in 2020, and is expected to reach $1,117.4 million by 2030 at a CAGR of 11.7%. Organic functional pet foods have been gaining significant traction among pet owners. This is majorly attributed to associated benefits such as they aid in faster healing, exhibit high nutritional profile, and have no side effects. Increase in spending on pet care and concern about animal welfare are anticipated to motivate pet owners to buy expensive pet care products, including organic pet food and supplements. Growing popularity of organic labeled pet food is expected to propel the market growth. 

Functional Pet Food Market
By Distribution Channel

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Pet Stores segment helds the major share of 37.6% in 2020

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By distribution channel, the offline stores segment was valued at $ 735.2 million in 2020, and is expected to reach $ 1,681.5 million by 2030, with a CAGR of 8.3%. Rapidly increasing number of pet stores in developing economies has enabled easier availability of functional pet food, as these stores help to increase the sales of functional pet food products. In addition, increase in urbanization and expansion of metro cities are expected to promote the growth of other distribution channels, including supermarket & hypermarkets and convenience stores, which, in turn, favor flawless distribution of functional pet foods. Thus, increase in pet stores and other distributional channels is expected to boost the growth the functional pet food market during the forecast period.

Functional Pet Food Market
By Region

2030
Asia Pacific 
North America
Europe
Lamea

North America Region helds the major share of 36.5% in 2020

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The North America functional pet food market is strongly driven by pet humanization, strong growth in pet ownership, increase in consciousness toward pets’ health, and rise in trend of premium and super-quality pet foods. As per American Pet Products Association, more than 65% of the U.S. households own a pet, which results in one of the biggest markets in the world. However, the dog segment accounted for major share in 2020, and is likely to maintain this during the forecast period, owing to increase in trend of nuclear families and their demand to keep dogs for companionship and security. Nonetheless, due to concerns toward pet’s health, pet parents are increasingly opting for nutritional food, followed by treats and snacks. Therefore, functional pet food is the fastest-growing food type as it delivers sufficient nutrition, containing high-moisture, protein-rich, and low calories.

The players operating in the global functional pet food market have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include 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 report provides a quantitative analysis of the currentmarket trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size and segmentation assistto determine the prevailingFunctional pet food marketopportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the functional pet foodindustry.

Key Market Segments

By Pet

  • Dog
  • Cat
  • Others

By Source

  • Organic
  • Conventional 

By Application

  • Bone Health
  • Brain Health
  • Obesity
  • Heart Health
  • Others

By Distribution Channel

  • Pet Stores
  • Pharmacies
  • Veterinary clinics
  • Online Stores
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • Australia
    • India
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Argentina
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA
 

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According to the insights of CXOs of leading companies, the global functional pet food market is expected to offer remunerative business opportunities in developing economies such as India and China. This is attributed to increase in adoption of pets (especially dogs and cats) and awareness regarding various pet care and pet grooming products such as functional, supplements, medicines, and nutraceuticals.

Internet sales have been presenting continuous growth over the years. The availability of info-centric health products, such as natural, organic, and nutritional foods, as per consumers’ demand has gained even more popularity than before, owing to rapid increase in pet humanization. However, some of the small e-retailers, such as EarthlyPets.com, AllAmericanPet.net, PremierPetFoods.com, and SitStay.com, have come up with healthy, nutritional, and organic pet food products that would create lucrative opportunities for other small retailers to increase their networking channel and strengthen their product offerings.

Asia-Pacific is one of the most important and high potential regions for the functional pet food industry. Asia-Pacific has diverse countries, such as Australia and Japan, which have reached a maturity stage and have emerging markets such as China, India, and others. There is also a sharp contrast in the buying patterns and social cultures in these countries. The functional pet food market in Asia-Pacific is being largely driven by rapid urbanization and connectivity programs. In many countries owing a pet, focusing and spending on its care is perceived as a social status and sensitivity.

However, existing challenges, such as close substitutes and lack of awareness regarding functional pet food benefits, are expected to hamper the growth of the functional pet food market during the forecast period. Furthermore, people usually give foods consumed by humans, such as white rice, dairy products, fish, chicken, and peanut butter, instead of recommended pet food and functional pet food to their pets, which is expected to hinder the growth of the market.

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FREQUENTLY ASKED QUESTIONS?

A. The total market value of the functional pet food market is $1,954.8 million in 2020.

A. The forecast period in the Functional Pet Food market report is 2021-2030.

A. 2020 is the base year calculated in the Functional Pet Food market report

A. Companies are profiled on the basis of revenue, product portfolio, market reach and global presence.

A. DAR PRO Ingredients, Kerry Group, Archer-Daniels-Midland Company, The Scoular Company, Roquette Frères and Isonova Technologies LLC, are some of the leading players active active in the Functional Pet Food market

A. Growing demand for organic and natural ingredients based functional pet food is likely to influence the market in the next few years.

A. Rise in trend of pet humanization, lack of awareness regarding benefits of pet food and supplements and product innovation and rise in demand for organic ingredients are some of the driving factors, restraints, and opportunities in the market

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