Functional Pet Food Market Update 2025 : Projected to Exhibit USD 3.06 Billion Revenue by 2031, Claims AMR

As per the report published by Allied Market Research, the global functional pet food market was accounted for $1.95 billion in 2020, 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.

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.

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Key findings of the study

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.
By pet, the cat segment is estimated to witness the fastest growth, registering a CAGR of 9.6% during the forecast period.
In 2020, depending on application, the bone health segment was valued at $284.6 million, accounting for 14.6% of the global functional pet food market share.
In 2020, the U.S. was the most prominent market in North America, and is projected to reach $1148.6 million by 2030, growing at a CAGR of 7.0% during the forecast period.

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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.

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
Petcurean Pet Nutrition USA Inc.

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Know More https://www.whatech.com/og/markets-research/consumer/902093-functional-pet-food-market-expeditious-growth-expected-in-coming-years.html

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