Market Trends of North America Pet Food Nutraceuticals Industry
This section covers the major market trends shaping the North America Pet Food Nutraceuticals Market according to our research experts:
Rising Trend of Pet Humanization
The shift in pet ‘ownership’ to ‘parenting’ has been a very crucial and defining trend in the pet food nutraceuticals market. Majority of the households in North America own a pet. Traditionally, pet owners fed their pet the leftovers and scraps from family meals. However, consumers are now becoming aware about that pet food and home-made food consist of separate nutritional elements, and that pets need to be fed a diverse range of food, as part of an adequate diet. An important part of pet humanization is the safety and nutritional needs of pets, which is also a result of consumers being educated about labeling and the ingredients used in products. Although these extra considerations come at a higher cost, the higher disposable income, is contributing to the sales of commercial pet foods in the region.
United States Dominates the Market
The United States is the most important and pioneering market in North America. Geriatric dogs and cats are a major pet demographic in the United States, with a one third of cats and dogs being seven years or older. Dealing with aging pets is something which is invariably a concern of many pet owners. The trend driven and impulsive nature of the market demands a high level of product diversity and innovation. The most important trends that are driving the nutraceutical market here are that of pet humanization and pet health. The increasing health concerns among humans have created a shift toward alternate therapies, such as that of herbal remedies or nutrients, due to the increasing humanization, this trend is rubbing itself onto the pet food market. The domestic nature of the pets in most households is also creating a rise in the incidence of pet obesity; nutraceuticals promise to offer a quick and effective solution to these problems. Muscle health, cognitive health, and digestive health continue to be the major concerns among pet owners, driving product sales in these segments
