Pet Food Nutraceuticals market growth marks the love for animals
Posted by MDFtrends on March 26th, 2018
Nutraceuticals are any substances that can be used as supplements that provide additional nutritive value to any product. Nutraceuticals that are utilized to help in providing the pet animals with required nutrition are known as pet food nutraceuticals. The culture of caring for one’s pet animals is on the rise globally. This includes taking the pets regularly to the veterinarian and getting the prescriptions for the necessary supplements to be given to the pet for its maximum health and immunity.
The global pet food nutraceuticals market is calculated to be growing with a CAGR of 4.12% and is predicted to be of worth $ 5.39 billion by 2021. The increasing consciousness about the proper caretaking of pets is the principal reason behind this growth.
The pet animals are being prone to a lot of diseases recently. The reasons for this include malnutrition and the consequences of it that are lessening of the pets’ immune system and making them easy target for the diseases. This realization among the pet owners is the main reason for the high growth of the market.
Many kinds of pet nutraceuticals are available in the market. They provide prescribed and required nutrition to the animals like vitamins and protein. The high-end market for the pet food nutraceuticals is expected to undergo a big amount of growth in the years to come, as the rich people are buying more and more exotic animals as pets these days.
As of now, North America is the largest region that contributes the biggest share to the global market share of the pet food nutraceuticals market. This is because of the wide range of adoption of pets in the urban region in the present days.
The major market players for the global market are Diana group, DSM, BASF, Merial, ADM, Scoular, Novotech, Mars, Nestle and Total Animolos.
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