The insect-based pet food market is set to reach $7.09Bn in 2021, driven by demand for sustainable options. Key growth areas include organic products and online retail channels.
Global sales of insect-based pet food are projected to total US$ 7.09 Bn in 2021, predicts Future Market Insights (FMI). Growing demand for organic and sustainable pet food is expected to propel sales of insect-based pet food at a 9.3% CAGR, pushing the market size to US$ 17.29 Bn by 2031
Rising pet adoption across the globe is spurring demand for insect-based pet food. This has also resulted in the popularity of the ‘pet humanization’ trend in which individuals are giving equal importance to their pet’s health and well-being by giving them specialized diets.
Request a report sample with 250 pages to gain comprehensive insights at
https://www.futuremarketinsights.com/reports/sample/rep-gb-14210
As a result, insect-based pet food is becoming increasingly popular among pet owners. Shifting consumer preference towards sustainable pet food, along with the rising incidence of illnesses in pets from livestock-based animal food will continue driving sales of insect-based pet food in the forthcoming years.
Such developments are anticipated to bode well for the insect-based pet food market. Sales of insect-based pet food in the U.S., the U.K., China, and India are anticipated to gain traction at a remarkable pace over the assessment period, owing to rising awareness regarding grain-free pet food.
“Ongoing research and development to incorporate other protein-rich ingredients in insect-based pet food will augment the growth of the market in the forthcoming years. Besides this, surging adoption of innovative dietary patterns for pets such as gluten-free diet will continue pushing sales of insect-based pet food over the forecast period,” says an FMI analyst.
Key Takeaways:
Prominent Drivers:
Key Restraints
View TOC at
https://www.futuremarketinsights.com/reports/insect-based-pet-food-market/table-of-content
Competitive Landscape
Key players operating in the insect-based pet food market are investing in research and development to improve their product portfolios. Besides this, collaborations, partnerships, and acquisitions are among other anticipated strategies adopted by players to gain a competitive edge. For instance:
Leading players operating in insect-based pet food market profiled by FMI include:
We Offer tailor-made Solutions to fit Your Requirements, Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-14210
More Insights on FMI’s Insect-based Pet Food Market
The latest market study on the insect-based pet food market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global insect-based pet food market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
Nature:
Source:
Product Type:
Pet Type:
Distribution Channel:
Region:
Buy this Report@ https://www.futuremarketinsights.com/checkout/14210
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
The article discusses the growth of the insect-based pet food market, projected to reach $7.09Bn by 2021.
It is driven by the demand for organic and sustainable pet food options and the pet humanization trend.
The U.S., China, and the U.K. are experiencing notable growth in the insect-based pet food market.
Explore more articles in the Research Reports category
