(Food-Beverage-News.Com, December 20, 2016 ) 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.
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.
The growth of the global Pet Food Nutraceuticals market is majorly driven by 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.
Segmentation:
1) Based onIngredient Type:
Omega 3 fatty acids Proteins and Peptides Milk Bio actives Probiotics Dietary Fiber Others
2) Based onFunction type: Nutrition/Therapeutic Supplements
3) Based onPet Type: Cats Fish Dogs Bird Others
4) Based onApplication Type: Weight Management Immune system Food Allergies Pain Relief Digestive health Skin and Coat Eye care Others
5) Geographical Segmentation: North America Europe Asia-Pacific Latin America Middle East and Africa
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 global Pet Food Nutraceuticals market are Diana group, BASF SE, Chr. Hansen A/S, Kemin Industries Inc., Nutraceutical International LLC, and Royal DSM N.V.
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