(Food-Beverage-News.Com, May 27, 2017 ) As per the syndicated report published by Market Data Forecast Europe Pet Food Nutraceuticals Market which is estimated to be USD 1.23 Billion in 2016 is poised to reach USD 1.51 Billion by 2021, at a CAGR of 4.08% from 2016 to 2021.
It can attributed to the factors such as increasing urbanization, rising wages, implementation of channel specific product expansion, and varying lifestyles, leading to a drop in birth rates and an increase in the number of single person families. Pets are being considered as family members and thus the user predilection for nutrition empowered pet food is further driving the pet food nutraceutical market. However, factors such as different regulatory bodies, lack of recognition of pet food in under-developed countries, and lack of raw materials are restraining the growth of the market in this region.
To give a brief idea, Pet food supplements are classified as either dietary or therapeutic supplements. Dietary supplements are substances combined with the pet foods to make them nutritionally whole and well-adjusted. Therapeutic supplements (also known as nutraceuticals) are foods that are taken orally to provide a health advantage, either for deterrence or treatment of a disease. Nutraceuticals are one of the fastest-growing segments of the pet industry. The usage of pet supplements and nutraceuticals is a rather recent practice in veterinary medicine.
Europe Pet Food Nutraceuticals Market is segmented based on Ingredient Type, Function type, Pet Type, and Application Type as mentioned below for attaining a more granular perspective of the market. In the report, each sub segment is provided with Market Size Estimations and Y-o-Y Forecasts.
By Ingredients type: Omega 3 fatty acids Proteins and Peptides Milk Bio actives Probiotics Dietary Fibre Others
By Function type:
Nutrition/Therapeutic Supplements
By Pet Type:
Cats Fish Dogs Bird Others
By Application Type:
Weight Management Immune system Food Allergies Pain Relief Digestive health Skin and Coat Eye care Others
The Europe market has been geographically segmented into Germany, U.K, France, Spain, and Italy. Amongst these, the UK leads the Pet Food Nutraceuticals market in Europe, whereas Spain is the most rapidly developing market, expanding at a CAGR of 5.21% during the forecast period. Italy is also one of the key markets for Pet Food Nutraceuticals in Europe. However, owing to swollen inflation rates, the market in Italy is projected to increase at a sluggish rate during the forecast period.
The major players in this market are focusing in the areas of Digestive health, weight management and beauty (Skin and Coat). The major companies dominating the Pet Food Nutraceuticals market in this region are Diana group, BASF SE, Chr. Hansen A/S, Kemin Industries Inc., Nutraceutical International LLC, and Royal DSM N.V.
The Europe Pet Food Nutraceuticals Market study offers the following deliverables: Regional and country-level analysis that provides an innate perspective of European region and the aforementioned countries Meticulously identifying the key areas of market growth by providing market size forecasts and y-o-y estimations at a Segment-level analysis Explanations of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics Study of macro and micro environmental factors that affect the European market presented in the form of PESTLE and Porters Five Forces Analyses Company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and analyst overview of the key market players operating in the region Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies Expertly devised Market Outlook - Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
Checkout other related studies in the Europe animal feed Market:
About Market Data Forecast: The publisher of this report Market Data Forecast is well known for the services they render in the area of market research and business intelligence. With rich experience in research across various business domains, they cater to the needs of both individual and corporate clients. Their research reports section offers a wide variety of market studies ranging from all-encompassing comprehensive market studies to product specific niche markets covering Europe among other regions of the global market as well, that too with competitive pricing options. For more info kindly visit, www.marketdataforecast.com
