Europe Pet Nutraceuticals Market is segmented By Ingredient (Fatty Acids, Enzymes, Proteins & Peptides, Antioxidants, Vitamins & Minerals, Glucosamine, Others), By Application (Weight Management, Immune Health, Pain Management, Joint Health, Skin and Coat Products, Digestive Health, Brain Health, Others), By Pet Type (Dogs, Cats, Birds, Others) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
Europe Pet Nutraceuticals Market is projected to reach at a high CAGR during the forecast period 2024-2031.
European pet owners are increasingly conscious of their pets' health and well-being. They are willing to invest in products that promote good health and address specific health concerns. Nutraceuticals offer a convenient and effective way to support pet health, likely to drive European pet nutraceuticals market growth.
The pet nutraceuticals industry continues to evolve with ongoing research and development efforts. Companies are developing innovative products with targeted formulations to address specific health conditions in pets. These advancements are expected to drive market growth by offering a more comprehensive range of practical and specialized products.
Market Summary
|
Metrics |
Details |
|
CAGR |
7.12% |
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Size Available for Years |
2022-2031 |
|
Forecast Period |
2024-2031 |
|
Data Availability |
Value (US$) |
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Segments Covered |
Ingredient, Application, and Pet Type |
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Largest Market Share |
Germany |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Type Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Increase in Pet Adoption is driving the Europe Pet Nutraceuticals Market Growth.
Increasing people’s preference to spend their quality time alone, they are even much interested in having pets. They started treating them as their family members increasing pet humanization. They are willing to provide the utmost importance for the requirements of raising their pets. From food to their daily needs, everything is taken care of ideally.
The increase in pet adoption in European countries drives the market’s growth. For instance, the Pet Food Manufacturers Association estimates that since the epidemic commenced, 3.2 million families in the United Kingdom have added a pet, bringing the country's overall pet population to 34 million. The country's pet nutraceuticals industry is expanding due to increasing pet adoption.
Growing Demand for Pet Nutraceuticals Helps to Boost the Market’s Growth.
The pet market in Europe focuses on pet nutraceuticals, which is boosting the market. The pet owners are showing massive interest in providing their pets with a holistic diet containing better nutrition for the wholesome well of the pet. The dietary supplements provided to a pet are given prior check, and they make sure to contain all the nutrients reached to the pet. The pet nutraceuticals have become a trend for all pet owners that are searching for the best dietary supplements for their pets.
The pet nutraceuticals show many beneficial effects on pets, including immunity regulation, and anti-microbial effects against bacteria, fungi or parasites. They even support pets' typical organ structure, function, or blood supply and enhance normal metabolic processes. The most beneficial factor of pet nutraceuticals is their ability to improve the pet immune system and provide strength to fight some kinds of diseases.
Lack of Recognition of Pet Nutraceuticals is Restraining the Market Growth.
The pet nutraceuticals market lacks recognition in underdeveloped European countries, contributing to market growth hampering. The pet nutraceuticals vendors do not force to conduct clinical trials to prove whether their vitamins really work or not. It largely depends on the pet nutraceuticals brands to ensure their products are safe and their marketing claims are honest. Thus, a lack of regulations may hamper the market’s growth over the forecast period.
One of the main restraining factors in the growth pet nutraceuticals market is the lack of awareness about pet nutraceuticals across the globe. Many pet owners believe it does not require supplements if the pet is healthy. In addition to this, pet parents assume that “complete and balanced” pet foods address all animals’ physiological needs. This misconception is one of the most significant barriers in the pet supplement industry. However, there are many opportunities for key pet nutraceuticals vendors to educate pet owners about the benefits of pet nutraceuticals.
Market Segment Analysis
Europe pet nutraceuticals market is segmented based on ingredients, application, and pet type.
Joint Health Segment Accounted for the Largest Share in the Europe Pet Nutraceuticals Market.
Europe pet nutraceuticals market has been segmented by application into weight management, immune system, pain management, joint health, skin and coat products, digestive health, brain health, and others. Most pets, especially dogs, are affected by joint problems. Swollen joints, arthritis, and others are most commonly noticed. According to a survey of 200 veterinarians, joint pains involved 20% of all dogs older than a year. Taking this into consideration, pet owners are focussing on providing nutraceuticals to their pets to improve the joint health of their pets. This is contributing to the higher share of this segment.
Source: DataM Intelligence Analysis (2023)
Market Geographical Share
Germany Held the Largest Share of the Europe Pet Nutraceuticals Market.
Germany pet nutraceuticals market held the largest market share of 38.6% in 2022 in the Europe pet nutraceutical market analysis. The rising pet adoption and high pet care costs are expected to increase this country's pet nutraceuticals market demand. The largest economy, massive pet population, and growing awareness about pet nutraceuticals in Germany are driving the largest share in this region.
Further, according to the Industrial Association of Pet Care Producers (IVH), in 2021, the country had 34.7 million pets. Also, around 47% of German households own pets, and 15% have more than one pet. With such a massive population of pets, the country is a large and promising pet food market, especially for pet food nutraceuticals owing to the increased awareness of pet diets and nutrient requirements, as pet owners prioritise pet health.
Source: DataM Intelligence Analysis (2024)
Market Companies
The major Europe pet nutraceuticals market players in the Europe pet nutraceuticals market are Mars Inc., Nestle Purina, Hill's Pet Nutrition, Inc., The J.M. Smucker Company, Wellness Pet Company, Deuerer, Diamond Pet Foods, Heristo Aktiengesellschaft, Blue Buffalo and Sunshine Mills among others.
COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).
Key Developments
- In October 2022, AstaReal, the global pioneer in astaxanthin production and related research, entered into a new strategic partnership with IQI Trusted Pet Food Ingredients, a supplier of premium inclusions for the enhancement of animal health in the European market.
- In September 2021, Avivagen, a disruptive Canadian company, and its strategic partner, Meyenberg International Group, recently launched their flagship product in Mexico named Vivamune, which is a natural supplement designed to support the immune system and help combat some ailments, including skin and hair problems.
- In January 2021, WACKER expanded its pet supplements category in the United States by offering bio actives for innovative pet supplement formulations. WACKER developed products with improved bioavailability; CAVACURMIN offers curcumin with almost 40 times higher bioavailability, and CAVAQ10 offers coenzyme Q10 with 18 times higher bioavailability.
Why Purchase the Report?
- To visualize the Europe pet nutraceuticals market segmentation based on ingredient, application, pet type, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of Europe pet nutraceuticals market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The Europe pet nutraceuticals market report would provide approximately 42 tables, 35 figures, and 77 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
