Description
The Africa Pet Food Nutraceuticals Market is projected to reach USD X billion in 2022, up from about USD X billion in 2017, growing at a CAGR of X% during the forecast period 2017-2022. As should be expected, the main driver behind this market is the rising number of people adopting pets. Factors behind this recent surge are rising disposable incomes, urbanization and the effect of western trends such as declining birth rates, the rise in divorce rates and increasing single family incomes. High growth is expected for this market in the coming years due to rising awareness about prepared pet nutrition. This growth is expected to be further bolstered by the introduction of advanced formulations by R&D departments, new distribution formats like vet clinics coming up, and the growing dominance of retail grocery chains like Walmart over distribution and marketing.
MARKET DYNAMICS
MARKET DRIVERS:
• Aforementioned changing demographics like declining birth rates and rising divorce rates which ultimately lead to the adoption of more and more pets.
• An aging pet population in the region.
• Companies exercising specific product development, so that productsare available for all kinds of requirements.
• Brand value enhancements by companies have led to more faith in the consumers and subsequently has increased sales.
MARKET RESTRAINTS:
• A lot depends on the perception of veterinarians regarding the benefits of certain products and differences among them.
• Unfavourable federal and state regulations are being imposed on pet food.
• Lack of raw materials required for production.
MARKET SEGMENTATION:
The Africa Pet Food Nutraceuticals market can be segmented on the basis of:
1. Pet Type: On the basis of pet type, the Africa Pet Food Nutraceuticalsmarket is segmented into Dogs, Cats, Birds, Fish, And Others. Cats and Dogs segment occupies the major market share.
2. Ingredient Type: On the basis of ingredient type, the Africa Pet Food Nutraceuticals market is segmented into Milk Bio Actives, Omega-3 Fatty Acids, Probiotics, Proteins &Peptides, Vitamins & Minerals, and Others.
3. Function Type: On the basis of function type, the Africa Pet Food Nutraceuticals market is segmented into nutrition/therapeutic and supplements.Pet supplements segment is growing fast due to rising obesity and coronary diseases in pets.
4. Application Type: On the basis of function type, the Africa Pet Food Nutraceuticals markets segmented intoPain Relief, Weight Management, Digestive Health, Immune System, Skin & Coat, Food Allergies, Eye Care, and Others.
GEOGRAPHICAL ANALYSIS:
On the basis of geography, the Africa Pet Food Nutraceuticals market is segmented into South Africa and Others. The South Africa region is home to a lot of pet food brands and dominates the market in terms of value. South Africa has also been instrumental in highlighting the benefits of nutritional care foods for pets in other parts of Africa. High growth is expected in the Other regions of Africa like Namibia, Egypt, Morocco, and Nigeria. Reasons for this growth are cited as the growing economies in Namibia and Nigeria, while, in the case of Morocco, the region has been heavily influenced by western culture and is experiencing a rise in the number of pet shops.
KEY PLAYERS:
• ADM (U.S.A).
• Scoular (U.S.A).
• Merial (France)
• Nutraceutical International LLC (U.S.A).
• Mars, Inc. (U.S.A).
- Market segments
- Market Drivers, Restraints and Opportunities
- Market Size & Forecast 2016 to 2022
- Supply & Demand Value Chain
- Market – Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
- Africa
- South Africa
- Northern Africa
- Rest of Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- Market Segmentation
- Estimated Market Sizing in terms of volume and value
- Recent trends in Market and impact
- Research Status and Technology Overview
- Extensive Industry Structure Coverage
