Functional Pet Food Market to Reach $4.67 billion by 2030

As per the report published by Allied Market Research, the global functional pet food market was accounted for $1.95 billion in 2020, and is expected to garner $4.67 billion by 2030, growing at a CAGR of 8.8% from 2021 to 2030.

Surge in trend of pet humanization, the growth of the retail sector and pet shops, and rise in awareness regarding pet health drive the growth of the global functional pet food market. However, lack of awareness regarding the benefits of functional pet food, surge in regulations on pet food, and traditional ways of feeding pet animals hinder the market growth. On the contrary, rapid product innovation, demand for organic application, surge in e-commerce sales and pet ownership in developing countries would open lucrative opportunities for the market players in the future.

Download Sample Report (Get Detailed Analysis in PDF – 377) @ https://www.alliedmarketresearch.com/request-sample/12220

Covid-19 scenario:

The Covid-19 pandemic positively affected the demand for functional pet foods owing to surge in pet humanization and rise in pet adoption for companionship.
Moreover, people have become more concerned regarding the health of pets due to the Covid-19 outbreak, which supplemented the demand for functional pet food.

The global functional pet food market is segmented on the basis of pet, source, application, distribution channel, and region.

Based on pet, the dog segment held the largest share in 2020, accounting for more than two-thirds of the market. However, the cat segment is expected to register the highest CAGR of 9.6% during the forecast period.

Interested to Procure the Data? Inquire here @ https://www.alliedmarketresearch.com/purchase-enquiry/12220

On the basis of application, the brain health segment is projected to manifest the highest CAGR of 12.2% during the forecast period. However, the obesity segment held the lion’s share in 2020, contributing to more than one-fifth of the market.

The global functional pet food market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2020, accounting for more than one-third of the market. However, the market across Asia-Pacific is estimated to portray the highest CAGR of 10.6% from 2021 to 2030.

Get detailed COVID-19 impact analysis on the Functional pet food Market: https://www.alliedmarketresearch.com/request-for-customization/12220?reqfor=covid

The global functional pet food market includes an in-depth analysis of the prime market players such as Kerry Group, DAR PRO Ingredients, The Scoular Company, Archer-Daniels-Midland Company, Isonova Technologies LLC, Roquette Frères, Nestlé Purina PetCare Company, PDM Group (Prosper De Mulder Ltd), Bacterfield, and Petcurean Pet Nutrition USA Inc.

Related Report :

Pet Grooming Services : https://www.alliedmarketresearch.com/pet-grooming-services-market-A06460

Animal Feed Enzymes Market : https://www.alliedmarketresearch.com/animal-feed-enzymes-market-A11054

Food Ingredients Market : https://www.alliedmarketresearch.com/food-ingredients-market-A11028

Organic Oats Market : https://www.alliedmarketresearch.com/organic-oats-market-A11030

Protein Alternatives Market :https://www.alliedmarketresearch.com/protein-alternatives-market-A10972

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.