The latest market report published by Credence Research, Inc. “Global Fish Based Pet Food Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The global Fish Based Pet Food market has witnessed steady growth in recent years and is expected to continue growing at a CAGR of 5.0% between 2023 and 2030. The market was valued at USD 11.5 Billion in 2022 and is expected to reach USD 16.2 Billion in 2030.
Fish based pet food market drivers are numerous and varied. One of the main drivers is the growing awareness among pet owners about the importance of feeding their pets high-quality, nutritious food. Fish-based pet foods are known for their high protein content, as well as their abundance of omega-3 fatty acids, which can help improve a pet’s coat quality and overall health. Additionally, many consumers are concerned about environmental sustainability and seek out fish-based products that use responsibly sourced ingredients. Another factor driving growth in this market is changing consumer preferences towards natural and organic products; fish-based pet foods are often viewed as healthier alternatives to traditional kibble or canned foods that may contain preservatives or artificial additives.
The primary drivers of the global fish-based pet food market include the rising number of households owning pets, particularly dogs and cats, and the growing awareness of the health benefits associated with fish-based diets for pets. Fish-based pet food is known for its high-quality protein and omega-3 fatty acids, which contribute to improved skin and coat health, joint support, and overall well-being.
Despite the market’s potential for growth, sustainability and sourcing concerns pose challenges to the industry. Issues such as fish overfishing and environmental impact raise questions about the long-term viability and ethical sourcing of fish as a key ingredient in pet food. Manufacturers are urged to adopt responsible and sustainable practices to address these concerns and ensure the continued availability of fish-based pet food.
However, the global fish-based pet food market also presents significant growth opportunities. The expansion of e-commerce platforms provides pet owners with convenient access to a wide range of fish-based pet food products, while the increasing demand for natural and premium pet food options opens up avenues for market expansion.
North America currently leads the market, driven by high rates of pet ownership, growing interest in premium and natural pet food options, and well-established distribution networks. Europe and Asia Pacific collectively account for a significant market share, with Europe holding over 18% share in 2022.
Key players in the global fish-based pet food market include Pacific Bio Products, Fish4Dogs, Purina (Nestle), Mars, Inc., Fresh pet, Spectrum Brands, Inc, Just Food For Dogs, Skipper’s Pet Products Ltd, Diana Pet Food (Symrise), and others. These companies compete based on product offerings, brand recognition, pricing strategies, distribution channels, and innovation.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Fish Based Pet Food Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the basis of Product and Application
- Major nations in each region with their import/export statistics
- The global Fish Based Pet Food Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
Browse Full Report: https://www.credenceresearch.com/report/fish-based-pet-food-market
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