Functional Pet Food Market Size Trend Analysis - 2023-2030

Functional Pet Food Market Overview:
In 2021, the size of the functional pet food market was estimated to be USD 11,354.44 million. By the end of 2030, it is expected to have grown at a compound annual growth rate (CAGR) of 8.59% to reach USDD million. Omega-3 fatty acids, probiotics and prebiotics, nucleotides, and enzymes are the main functional elements that contribute to the health of companion animals.

It has been demonstrated that these compositions provide a variety of health benefits for pets. Among the main functional areas of interest for pet owners are immune system stimulation, weight control, dental health, and digestive health. In a similar vein, functional pet meals can treat and prevent disease in both cats and dogs. Pet owners' preferences are shifting, which is creating a need for functional pet food with ingredients that improve energy, promote health, and fend off disease. The report states that during the forecast period of 2022-2029, the North American functional pet food market is expected to account for the largest share of the global functional pet food market. This growth is attributed to a number of factors, including growing pet humanization, rising pet ownership, and increasing urbanization. The economies of the United States and Canada are leading the way in the expansion of the North American continent. Throughout the projected period of 2022-2029, the Asia Pacific region is expected to exhibit the quickest growth in the global market for functional pet food. This region includes nations including South Korea, China, India, Japan, Singapore, Australia, Malaysia, and the rest of Asia Pacific.

Download Sample: https://www.datamintelligence.com/download-sample/functional-pet-food-market

Market Trends:
The functional pet food market is anticipated to expand during the forecast period as pet food producers respond to consumers' need to suit the specific demands of their pets, leading to a more specialized pet food industry. The benefits of eating a diet high in protein, such as promoting satiety, building muscle mass and strength, and helping pets maintain their ideal physical condition, are attracting more and more pet owners, which is driving the expansion of the market. Growing recognition of the need of a balanced diet for pets has prompted some pet food producers to add functional ingredients to their products, which will help the functional pet food market expand in the near future. For instance, one of the most often used functional pet food ingredients in dog food is omega-3.
Another group of functional pet food components that is crucial for the health of teeth and bones is calcium. Due to proteins' capacity to repair muscles and tissues-which is necessary for the body to function-many manufacturers and pet owners place a high value on eating a diet high in protein. As a result, it is anticipated that many producers, brands, and merchants would use formulae that emphasize the sources of protein in pet food in addition to its quality and quantity. A increasing number of pet owners are turning to functional pet food because it offers more benefits for their health, including better digestion, dental and skin care, joint health, and increased immunity in animals.

Market Segmentation Analysis:
Because of the vast number of dogs owned worldwide, the high amount of money spent on their health and nutrition, and the development of new supplies and medications designed specifically for dogs, the dog functional food segment is the largest market segment in the global functional pet food industry. Due to the widespread belief that dogs are the most amiable and devoted friends, an increasing number of dogs are being humanized and cared for by their owners. With an estimated 89.7 million registered pet dogs, the US has the biggest number of dog registrations worldwide. Due to the lack of registration requirements for pets, demographic data regarding Asia is unreliable. In India, there are thought to be about 32 million dogs kept as pets. By the end of 2020, dogs accounted for over 57% of all U.S. homes with pets, according to the American Veterinary Medical Association. About 45% of homes nationwide own a dog or dogs, making this the greatest dog ownership rate since the association started keeping track of statistics.

Market Geographical Share:
North America accounted for the largest revenue share of nearly respectable proportion in 2021. The market for functional pet food in North America is expanding due to several factors, including increased urbanization, rising pet ownership, growing pet humanization, and the rise of private label store brands. Dog food is the primary market driver for functional pet food in the nation. The expansion of premium natural and healthier pet food products has been the driving force behind the majority of these trends. Higher levels of pet humanization and dietary knowledge among consumers have led to a demand for higher-quality formulations and healthier functional ingredients, which has influenced preferences across price points. For pet owners in America, functional ingredients are critical components. The market for functional pet food products is anticipated to rise rapidly due to the growing concern for the health of pets. The major players in the pet food industry are expanding their investments to gain market leadership and large shares in response to the developing trends of pet humanization and the resulting need for functional pet food. For example, Nestle Purina stated in 2020 that it will invest USD 140 million in its US pet food facility in order to grow its business there. The primary goal of the expansion is to install additional processing and packaging lines so that pet foods that are "dry," or kibble-based, can be produced and sold.

Know More: https://www.datamintelligence.com/research-report/functional-pet-food-market

Related Reports:
Functional Food Market: https://www.datamintelligence.com/research-report/functional-food-market

Smoked Fish Market: https://www.datamintelligence.com/research-report/smoked-fish-market

Functional Protein Market: https://www.datamintelligence.com/research-report/functional-protein-market

Proanthocyanidins Market: https://www.datamintelligence.com/research-report/proanthocyanidins-market

Pet Food Ingredients Market: https://www.datamintelligence.com/research-report/pet-food-ingredients-market

Frozen Pet Food Market: https://www.datamintelligence.com/research-report/frozen-pet-food-market

Contact Us -
Company Name: DataM Intelligence
Email: info@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com

About Us -
DataM Intelligence 4Market Research is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.

This release was published on openPR.