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Vietnam Aquaculture Feed Market Share, Size – Segmented by Feed Type (Fish Feed, Mollusks Feed, Crustaceans Feed) – Growth, Trends, and Forecast (2018 – 2023)
| Animal Nutrition & Wellness | Published by: Mordor Intelligence | Market: Việt Nam |
| Unknown | Published: 25-06-2019 |
- Animal Nutrition & Wellness
- Mordor Intelligence
- Việt Nam
- pages
- Published: 25-06-2019
Market Overview
The Vietnamese aquaculture feed market was valued at USD 2.61 billion in 2018 and is projected to reach USD 3.67 billion, with a CAGR of 5.9% during the forecast period (2019-2024). The drivers identified in the market are an increase in export demand for aquaculture products, steady change in diet preferences, and increasing fish consumption. The restraints identified in the market are environmental concerns on water quality and lack of cost-effective feeds and feeding strategies.
Scope of the Report
Aquafeed is a mixture of raw materials, additives, and other supplements, sourced from either natural or synthetic sources and are fed to farmed fish. Soybean meal, fishmeal, fish oil, and carp are the most commonly used raw materials. Aquafeed is commonly available in the form of pellets, which contain vital ingredients for fish, administered externally. These pellets vary in size, depending on the species that has to be fed. In addition, properties of these feeds can be altered to make them float on the water surface or sink to the bottom of the tanks, where fishes are reared. Furthermore, the content of various nutrients in the feed can be controlled, and this resulted in the growth and rise in popularity of the aquafeed industry over the past few years. They are made for aquatic species, such as fish, crustaceans, and molluscs.
Key Market Trends
Increase in Export Demand is driving the market
The growing demand for aquaculture products has a direct implication on the production of high yield aqua feed. Intensive aquaculture depends on commercially manufactured aqua feed, though most of the inland farmers in the country rely on farm-made feed. As a member of ASEAN, Vietnam involved in several bilateral and free trade agreements, which created a huge demand for Vietnamese aqua feed in major economies, such as the United States, North America, China, and India. Usually, all the good quality feed is exported to major markets and crop residues, such as leaves, grasses, corn, cassava, fish trash are used as their internal feed ingredients, which in turn affect the pond ecosystem. To reduce the environmental impact, the government focused on introducing nutritious system feeding concept, which not only feeds the farm creatures but also improves the overall ecosystem of it.
Vietnam Aquaculture Feed Market is segmented by Feed Type into Fish Feed
The aquafeed market has seen a hike in its growth rate over the last two decades. The aquafeed industry is growing, majorly because of the increasing consumer inclination toward seafood throughout Vietnam, and also the increasing aquaculture activities. The fish farming industry is shifting gradually from extensive farming to the feed-dependent intensive or semi-intensive farming system. Aquaculture depends on farm-made feed or costly commercial aquafeed. One of the main restraints for this market is the increasing cost of feed ingredients and raw materials.
Competitive Landscape
In the Vietnamese aquaculture feed market, companies are not only competing based on product quality and promotion but are also focused on strategic moves, to hold larger market share. The market is consolidated in nature, with the major players holding more than 60% share of the aquaculture feed market.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness – Porter’s Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Feed Type
5.1.1 Fish Feed
5.1.1.1 Carp Feed
5.1.1.2 Salmon Feed
5.1.1.3 Tilapia Feed
5.1.1.4 Catfish Feed
5.1.1.5 Other Feed Types
5.1.2 Molluscs Feed
5.1.3 Crustaceans Feed
5.1.3.1 Shrimp Feed
5.1.3.2 Other Crustacean Feed
5.1.4 Other Aqua Feed
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Market Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Archer Daniels Midland Co.
6.3.2 Cargill Inc.
6.3.3 Nutreco NV
6.3.4 BASF SE
6.3.5 Biomin GmbH
6.3.6 INVE Aquaculture Inc.
6.3.7 Skretting
6.3.8 Aller Aqua
6.3.9 De Heus LLC
6.3.10 Altech Inc.
6.3.11 Anvet Pharma
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
Feed Type
Fish Feed
Carp Feed
Salmon Feed
Tilapia Feed
Catfish Feed
Other Feed Types
Molluscs Feed
Crustaceans Feed
Shrimp Feed
Other Crustacean Feed
Other Aqua Feed
Vietnam Feed Concentrate and Base Mix Market – Segmented by Animal Type, and Feed Type – Growth, Trends, and Forecast (2018 – 2023)
| Animal Nutrition & Wellness | Published by: Mordor Intelligence | Market: Việt Nam |
| Unknown | Published: 25-06-2019 |
- Animal Nutrition & Wellness
- Mordor Intelligence
- Việt Nam
- pages
- Published: 25-06-2019
Market Overview
The Vietnamese feed concentrate and base mix market was valued at USD 3.73 billion in 2018, and it is projected to reach USD 4.95 billion by 2024, with a CAGR of 4.85%, during the forecast period, 2019-2024.
Increasing consumption of animals and animal by-products, government strategies to improve the agricultural condition of the country, and improvement in the meat export sector are driving the market studied.
The fluctuation in grain prices in the country, government regulations, and the demand-supply gap in protein sources for animal feed are restraining the market studied.
Scope of the Report
The report contains an analysis of various parameters of the Vietnamese feed concentrate and base mix market. The study includes various kinds of growth promoters that are given to farm animals. The market has been segmented on the basis of the type of animal. The study involves the analysis of the growth promoters and the market demand for them. The report presents wide-range analysis of market shares, size, and trends in the Vietnamese feed concentrate and base mix market. The market operates in the B2C mode, and market sizing has been done at the consumer level.
Key Market Trends
Demand – Supply Gap in Protein Sources for Animal Feed is Restraining the Market
Amino acid, a form of protein, is an important ingredient of base mix and is also an important component added to feed concentrates. Presently, Vietnam imports a large amount of input materials, like protein for feed processing. In the future, the demand for animal feed and feedstuffs may continue to increase, due to the growth of livestock production, particularly by large-scale commercial farms. The domestic demand for protein in the manufacturing of base mix may increase the import of amino acids in the country, which is expected to increase the price of base mix and feed concentrates in the country. The major sources of protein for base mix are soymeal, fishmeal, and synthetic amino acid. Vietnam is not self-sufficient to meet the domestic demand for protein. As a result, the country is primarily dependent on the import of these products, which in turn, increases the price of the final product, base mix, and feed concentrates.
The Poultry and Swine Segments Dominate the Vietnam Feed Concentrate and Base Mix Market
The consumption of animal feed in Vietnam is directly proportional to the development of the livestock sector. Home-made feed is popular in the country, owing to the slightly decreasing prices of feed ingredients, while the price of commercially-made feed remains constant. While preparing home-made feed, Vietnamese farmers depend upon their experience and make use of premixes, base mixes, and concentrates, in order to achieve a good feed conversion ratio. However, the switch from backyard farming to intensive/industrial farming, consisting of suitable machinery and equipment, is driving the demand for commercially-prepared feed in the country. The demand for poultry and swine feed accounts for 97% of the total feed consumption in Vietnam. Only 3% of the feed is used for livestock other than poultry and swine. The Vietnamese cattle segment is small. The country’s poultry segment consists of chicken, duck, and goose.
Competitive Landscape
In the Vietnamese feed concentrate and base mix market, companies are investing heavily to develop new products, and collaborating and acquiring other companies. This factor is expected to increase their market shares and strengthen the R&D activities. Companies, like Cargill Inc., Nutreco, and Mixscience, are the major players in the Vietnamese feed concentrate and base mix market. The animal feed industry of Vietnam, despite being among world’s fastest-growing ones, in terms of scale and output, is dominated by foreign firms, while local producers are struggling to compete. As a result, no firm is able to dominate the local animal feed market. CP Vietnam is Vietnam’s biggest animal feed producer. It has roughly a share of 15%-20% of the market. However, when it comes to feed concentrate and base mix, its share is even less.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.4 Market Restraints
4.5 Industry Attractiveness – Porter’s Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Regulatory Policy Analysis
5. MARKET SEGMENTATION
5.1 Animal Type
5.1.1 Ruminant
5.1.2 Poultry
5.1.3 Swine
5.1.4 Companion Animals
5.2 Feed Type
5.2.1 Concentrate
5.2.1.1 Energy Feed
5.2.1.2 Protein Feed
5.2.2 Basemix
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Competitor Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Manufacturers
6.3.1.1 EuromiX
6.3.1.2 Cargill Inc.
6.3.1.3 Nutreco
6.3.1.4 Mixscience
6.3.2 Other Companies
6.3.2.1 The Honest Kitchen
6.3.2.2 Dachan Food
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
Animal Type
Ruminant
Poultry
Swine
Companion Animals
Feed Type
Concentrate
Energy Feed
Protein Feed
Basemix
GLOBAL FEED ADDITIVES MARKET- SEGMENTED BY TYPE, SUB ADDITIVE TYPE, ANIMAL TYPE AND GEOGRAPHY- GROWTH, TRENDS, AND FORECAST (2019 – 2024)
| Animal Nutrition & Wellness | Published by: Mordor Intelligence | Market: Global |
| Unknown | Published: 24-06-2019 |
- Animal Nutrition & Wellness
- Mordor Intelligence
- Global
- pages
- Published: 24-06-2019
Market Overview
The global feed additives market (henceforth, referred to as the market studied) was valued at USD 31.74 billion in 2018, and it is expected to register a CAGR of 4.6% during the forecast period (2019-2024). Asia-Pacific is projected to be the fastest-growing market. Economic growth, industrialization of the livestock industry, rising farmers awareness, and government support are the major factors for market attractiveness in this region.
Feed additives are essential for animal nutrition, as they improve the quality of feed, and thereby improve animals’ performance and health. Industrialization of the livestock and meat sector is an important factor driving the demand for feed additives across the world. Amino acids, antibiotics, organic acids, and vitamins are the major segments, accounting for more than 40% of the global feed additives market. The determined push from the EU for alternatives to antibiotics has led to increased consumption of acidifiers and probiotics in Europe. The poultry segment is the largest consumer in the market studied, and the present trend of consolidation and backward integration of poultry processors is expected to maintain a steady demand for additives during the forecast period.
Scope of the Report
With the industrialization of the sector, the use of feed additives has been increasing over the years. The price volatility of natural feed sources during the past decade leads to an increment in the usage of different feed additives in the animal feed industry. Industrialization of the livestock, feed, and processed meat industry has necessitated the application of feed additives, as they act as a supplement, nutrient enhancer, feed conditioner, etc., with all required essential elements for optimum growth of the animals.
Key Market Trends
Increased Industrial Livestock Production
The demand for food derived from animals across the world has been increasing at a fast pace. The surge in this demand has been fulfilled by commercial livestock production and their associated food chains. According to the World Bank, industrialized meat production is growing six times faster than traditional meat production methods. The meat production industry is witnessing an upward trend during the recent past years, especially, in the developed countries, such as the United States, and European countries with reduced land usage. This boosts the production of livestock as well as meat, which in turn, accelerates the demand for feed additives for feeding the growing livestock population in these countries.
The shift toward meat production industrialization requires a better regulatory framework to protect public health and guarantee high-quality feed additive inputs in animal feeds, to enhance the efficiency of meat production. Feedlot-raised animals are kept indoors for the majority of the year and are given compound feed to enhance their growth and supply them with essential nutrients. This leads to increased demand and consumption of compound feed, thereby, driving the market for feed additives, globally.
Prebiotics is the Fastest Growing Feed Additive
Prebiotics are attracting considerable interest from pet owners, pet food manufacturers, livestock producers, and feed manufacturers. The most common forms of prebiotics are non-digestible oligosaccharides (NDO), including inulin, oligofructose manna oligosaccharides, glucooligosaccharides, and galactooligosaccharides. Organic nature of prebiotics is making them a lucrative option for the industry, as there are no regulations on product addition, and they are more accepted by consumers as safer alternatives. Due to this, the market for prebiotics is the fastest growing as compared to others. Among all the feed prebiotics, inulin is the largest market segment in prebiotics and it has been constantly gaining popularity as a major prebiotic and as a functional fiber in the developed countries, particularly in the EU, due to the ban on antibiotics use in animal feed.
Competitive Landscape
The feed additives market is highly concentrated, with the top ten companies accounting for more than 50% of the market share. The leading players in the market studied are focused on business expansion. They are targeting countries in Asia-Pacific for business expansion, by either investing in new production units or acquiring established small players in the region.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter’s Five Forces Analysis
5. MARKET SEGMENTATION
5.1 Additive Type
5.1.1 Antibiotics
5.1.1.1 Tetracyclines
5.1.1.2 Penicillins
5.1.1.3 Others
5.1.2 Vitamins
5.1.2.1 A
5.1.2.2 B
5.1.2.3 C
5.1.2.4 E
5.1.2.5 Others
5.1.3 Antioxidants
5.1.3.1 BHA
5.1.3.2 BHT
5.1.3.3 Ethoxyquin
5.1.3.4 Others
5.1.4 Amino Acids
5.1.4.1 Tryptophan
5.1.4.2 Lysine
5.1.4.3 Methionine
5.1.4.4 Threonine
5.1.4.5 Others
5.1.5 Enzymes
5.1.5.1 Carbohydrases
5.1.5.2 Phytases
5.1.5.3 Others
5.1.6 Mycotoxin Detoxifiers
5.1.6.1 Binders
5.1.6.2 Bio-transformers
5.1.7 Prebiotics
5.1.7.1 Inulin
5.1.7.2 Fructo Oligosaccharides
5.1.7.3 Galacto Oligosaccharides
5.1.7.4 Others
5.1.8 Probiotics
5.1.8.1 Lactobacilli
5.1.8.2 Bifidobacteria
5.1.8.3 Others
5.1.9 Flavors and Sweeteners
5.1.9.1 Flavors
5.1.9.2 Sweeteners
5.1.10 Pigments
5.1.10.1 Carotenoids
5.1.10.2 Curcumin and Spurulina
5.1.10.3 Others
5.1.11 Binders
5.1.11.1 Natural
5.1.11.2 Synthetic
5.1.12 Minerals
5.1.12.1 Micro Minerals
5.1.12.2 Macro Minerals
5.2 Animal Type
5.2.1 Ruminants
5.2.2 Swine
5.2.3 Poultry
5.2.4 Others
5.3 Geography
5.3.1 North America
5.3.1.1 US
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 UK
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Egypt
5.3.5.4 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Company Profiles
6.2.1 Adisseo SAS
6.2.2 BASF SE
6.2.3 Danisco Animal Nutrition
6.2.4 Archer Daniels Midland Co. (ADM)
6.2.5 Cargill Inc.
6.2.6 InVivo NSA SA (Neovia)
6.2.7 Kemin Industries Inc.
6.2.8 Nutreco NV
6.2.9 Phibro Animal Health Corp.
6.2.10 Lallemand Inc.
6.2.11 Alltech Inc.
6.2.12 Novozymes A/S
6.2.13 Beneo GmbH
6.2.14 Elanco Animal Health
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- MARKET SEGMENTATION
- Additive Type
- Antibiotics
- Tetracyclines
- Penicillins
- Others
- Vitamins
- A
- B
- C
- E
- Others
- Antioxidants
- BHA
- BHT
- Ethoxyquin
- Others
- Amino Acids
- Tryptophan
- Lysine
- Methionine
- Threonine
- Others
- Enzymes
- Carbohydrases
- Phytases
- Others
- Mycotoxin Detoxifiers
- Binders
- Bio-transformers
- Prebiotics
- Inulin
- Fructo Oligosaccharides
- Galacto Oligosaccharides
- Others
- Probiotics
- Lactobacilli
- Bifidobacteria
- Others
- Flavors and Sweeteners
- Flavors
- Sweeteners
- Pigments
- Carotenoids
- Curcumin and Spurulina
- Others
- Binders
- Natural
- Synthetic
- Minerals
- Micro Minerals
- Macro Minerals
- Animal Type
- Ruminants
- Swine
- Poultry
- Others
- Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Egypt
- Rest of Middle East and Africa
Pet Food Nutraceutical Market – Segmented by Pet Type, Function, Ingredient, and Geography – Growth, Trends and Forecast (2019 – 2024)
| Animal Nutrition & Wellness | Published by: Mordor Intelligence | Market: Global |
| 130 pages | Published: 10-06-2019 |
- Animal Nutrition & Wellness
- Mordor Intelligence
- Global
- 130 pages
- Published: 10-06-2019
Market Overview
The global pet food nutraceutical market was valued at USD 6.3 billion in 2019, and is expected to register a CAGR of 4.8% during the forecast period (2019-2024). In 2018, North America was the largest geographic segment of the market studied and accounted for a share of around 47% of the overall market, while Asia-Pacific was the fastest-growing region.
The increasing number of single families, rising animal healthcare costs, aging pet population, and poor outcomes of the use of drugs have led to consumers looking for alternatives in the form of natural and organic products. Supplements are used as alternatives to drugs, by the veterinary community. The addition of active ingredients based on intended functionality is making supplements therapeutic and nutritional treats.
Scope of the Report
Nutraceuticals are categorized as dietary supplements, functional foods, or medicinal foods. Nutritional supplements for pets are products that provide a source of recognized essential nutrient, like calcium or vitamin A. They are intended to work as supplements and ensure the nutritional completeness of the diet in pets. The supplements are being marketed not only as pills/powders, but also as ingredients in pet foods/gravies/snacks. The other alternative delivery formats that are gaining shares, due to the preference for pet palatability, include gels and pastes, as well as gravies and powders, designed to be added to pet food.
Key Market Trends
Increasing Number of People Adopting Pets
Due to changes in lifestyle, pet humanization is on the rise in different countries. The increasing pet ownership among younger generations, in particular, consumed by social media and adoption of the western lifestyle, is the main driver of the market. Hence, an increasing number of people in the country are treating pets as members of the family. The rise of the middle class and easy access to the internet are a few other drivers contributing significantly to the growth of the market. Urbanization trends in many countries have also contributed to the growth in sales of prepared pet foods, as these products are more convenient and more suitable for the busy lifestyles of urban dwellers. 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 rise of the middle-class population in the world, coupled with higher disposable income, is contributing to the sales of commercial pet foods, globally.
North America Dominates the Global Market
The North American market is the first respondent to any major global trend or consumer pattern; the high level of market penetration and corresponding infrastructure are cited as reasons for the pioneering attitude. The concept of pet humanization’ is the major trend that is consolidating both the pet care and pet food markets into a sense of overall pet well-being. One significant outcome of this trend is the consumer focus toward nutraceutical foods and remedies from the comfort or treat foods. This focus is well visible in the marketing and new product launches of the major firms.
The United States is expected to lead the pack, followed by Canada and Mexico. The rapid increase in urbanization rates and income levels that are expected of Mexico are fuelling the high expectations of the market. The increasing forces of globalization and infrastructure improvement are giving rise to considerable growth in the other regions of North America.
Competitive Landscape
The global pet food nutraceutical market is a highly concentrated market and there are a limited number of players contributing to this sector. These players are BASF, Purina Pet Care, DSM, Kemin Industries, Symrise, Danisco Animal Nutrition, and Boehringer Ingelheim. The greater market share of these players can be attributed to their large geographical presence and highly diversified product portfolios. These players are known to be focusing on R&D, large product portfolio, wide geographical presence, and aggressive acquisition strategy.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness – Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Ingredient Type
5.1.1 Milk Bioactives
5.1.2 Omega-3 Fatty Acids
5.1.3 Probiotics
5.1.4 Proteins and Peptides
5.1.5 Vitamins and Minerals
5.1.6 Other Ingredient Types
5.2 Function Type
5.2.1 Nutrition/Therapeutics
5.2.2 Supplements
5.3 Pet Type
5.3.1 Dog
5.3.2 Cat
5.3.3 Bird
5.3.4 Fish
5.3.5 Other Pet Types
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Spain
5.4.2.2 United Kingdom
5.4.2.3 Denmark
5.4.2.4 France
5.4.2.5 Germany
5.4.2.6 Russia
5.4.2.7 Italy
5.4.2.8 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 Indonesia
5.4.3.6 Thailand
5.4.3.7 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Africa
5.4.5.1 South Africa
5.4.5.2 Rest of Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Kemin Industries
6.3.2 Symrise AG
6.3.3 BASF SE
6.3.4 Roquette Freres
6.3.5 DSM Nutritionals
6.3.6 Darling International Inc
6.3.7 Archer Daniels Midland Company
6.3.8 Nestle SA (Purina Petcare)
6.3.9 Boehringer Ingelheim Animal Health
6.3.10 Novotech Nutraceutical
6.3.11 VIT2be-Diana Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
Ingredient Type
Milk Bioactives
Omega-3 Fatty Acids
Probiotics
Proteins and Peptides
Vitamins and Minerals
Other Ingredient Types
Function Type
Nutrition/Therapeutics
Supplements
Pet Type
Dog
Cat
Bird
Fish
Other Pet Types
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Denmark
France
Germany
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Indonesia
Thailand
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Africa
South Africa
Rest of Africa
Veterinary Services Market- Growth, Trends, and Forecast (2019 – 2024)
| Animal Nutrition & Wellness | Published by: Mordor Intelligence | Market: Global |
| 115 pages | Published: 13-06-2019 |
- Animal Nutrition & Wellness
- Mordor Intelligence
- Global
- 115 pages
- Published: 13-06-2019
Market Overview
The veterinary services market was valued at USD 94.14 billion in 2018, and it is estimated to be valued at USD 138.66 billion in 2024, while witnessing a CAGR of 6.67% over the forecast period of 2019-2024. Increase in animal adoption, rise in prevalence of animal diseases, better animal health awareness, and increase in R&D and government initiatives are the key factors propelling the growth of the market, globally.
A significant rise in the adoption of pet animals, including dogs, cats, and even horses, as companions for human beings, has been observed over the recent years. Moreover, farm animals, including cattle and swine, have also been taken in for various commercial purposes in the recent years. The developed countries represent a significantly large share in companion animal-ownership, owing to the favorable economic condition and several other factors. This rise in both companion, as well as livestock animal adoption, along with the increased per capita animal health expenditure, indirectly generates an increase in the demand for proper veterinary services. In addition to the aforementioned factor, the rise in prevalence of various animal diseases, growth in animal health awareness, and increase in R&D and government initiatives are expected to propel the market growth, over the forecast period.
Scope of the Report
Veterinary services refer to all kinds of facilities, solutions, systems, and services targeted at animal health welfare, including hospitalization, dentistry, diagnostics, surgery, nursing, medication, medical devices, specialist referral, alternative therapies, and behavioral therapies performed by a veterinarian.
Key Market Trends
Companion Animal Segment by Animal Type is Expected to Hold the Largest Market Share
The companion animal segment in the veterinary services market is believed to have the largest market size, and the segment is expected to witness a CAGR of 6.79% during the forecast period.
In today’s era, small animal surgery is moving forward, taking advantage of the developments and achievements in human surgery. Cardiovascular operations, tracheal and urethral stenting, advances in surgical oncology, total hip replacement, developments in neurosurgery, and kidney transplantation in cats are among the new modalities. They can be used for small animal patients, in order to provide them advanced veterinary care and to improve their quality of life, as well as increase their life expectancy. The number of dogs and cats euthanized in US shelters, annually, has declined from approximately 2.6 million in 2011 to 1.5 million currently. This decline can be partially explained by an increase in the percentage of animals adopted and an increase in the number of stray animals successfully returned to their owners.
Increased adoption of companion animals as pets in developed regions and increasing awareness regarding pet health are expected to drive the veterinary services market during the forecast period.
North America Dominates the Market and is Expected to do the Same in the Forecast Period
North America currently dominates the veterinary services market and is expected to continue its stronghold for a few more years. The United States is expected to retain its significant market share, owing to factors, such as rising pet adoption and increasing per capita animal healthcare expenditure. Besides, a rise in the prevalence of various animal diseases is identified as a significant driving factor for the market growth. Also, the rising awareness about animal health, favorable and advanced healthcare IT infrastructure, effective initiatives by the government, and rise in pet adoption are some of the other significant factors that are driving the growth of the North American veterinary services market.
Competitive Landscape
The veterinary services market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. Companies, like CVS Group PLC, Ethos Veterinary Health, Idexx laboratories, National Veterinary Care Ltd, and Mars Inc., hold substantial shares in the market.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Service
5.1.1 Surgery
5.1.2 Diagnostic Tests and Imaging
5.1.3 Physical Health Monitoring
5.1.4 Other Services (Dental Care, Grooming, Vaccination, Counselling, etc.)
5.2 Animal Type
5.2.1 Companion Animal
5.2.2 Farm Animal
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East & Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East & Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 CVS Group PLC
6.1.2 Ethos Veterinary Health
6.1.3 Greencross Limited
6.1.4 Idexx laboratories
6.1.5 Mars Inc.
6.1.6 National Veterinary Care Ltd
6.1.7 Patterson Companies Inc.
6.1.8 Pets at Home Group PLC
6.1.9 Animart LLC
6.1.10 Vetronic Services Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
Service
Surgery
Diagnostic Tests and Imaging
Physical Health Monitoring
Other Services (Dental Care, Grooming, Vaccination, Counselling, etc.)
Animal Type
Companion Animal
Farm Animal
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America
Pet Wearable Market – Growth, Trends, and Forecast (2019 – 2024)
| Animal Nutrition & Wellness | Published by: Mordor Intelligence | Market: Global |
| 117 pages | Published: 17-06-2019 |
- Animal Nutrition & Wellness
- Mordor Intelligence
- Global
- 117 pages
- Published: 17-06-2019
Market Overview
The key factors propelling the growth of the pet wearable market are the increase in awareness about the pet’s physical and mental fitness, increasing adoption of IoT, and rise in the demand for pet monitoring and technological advancements.
The pet wearable market is gaining traction, due to the rising awareness among pet owners about their health. The increasing inclination toward the adoption of pets as companions for mental stability, fitness, and entertainment is boosting the expenditure on the well-being of pets. The rising awareness, coupled with easy availability of wearables, globally, is expected to boost the global pet wearable market.
Additionally, the use of pet wearables offers benefits, such as connecting humans to their pets, in order to track their daily activities and monitor their health using these devices. This monitoring generates data for food intake, heart, and respiratory rate and patterns, and calories burnt by pets during the day. The data generated by these devices is used for analyzing the health of pets. The aforementioned factors are boosting the adoption of pet wearables, which in turn, is propelling the growth of the market studied.
Scope of the Report
Pet wearables refer to devices that can be worn on the pet’s body to serve various purposes, such as identification, tracking, monitoring, controlling, medical diagnosis, treatment, facilitation, safety, and security.
Key Market Trends
Identification and Tracking Segment, by Application, is Expected to Hold the Largest Market Share
The identification and tracking segment of the pet wearable market is expected to register the largest market share over the forecast period, and is likely to record a CAGR of 10.34%.
One of the most common uses of pet wearables, such as smart collars, is tracking the whereabouts of pet animals using GPS. With the help of wearables, not only can the owners track their pets, but the devices also help other people identify pets that have strayed off and return them to their rightful owners. Owners can track the location of their pets and identify them easily within limited time, just by using their smartphones.
According to the American Humane Association, it is estimated that 10 million dogs and cats go missing or are stolen in the United States alone, each year. One in three pets is likely to become lost at some point during its life. Hence, with wearables, such as the GPS tracking device, the chances of a pet getting lost or stolen may reduce drastically. All such factors are driving the market, and are helping in the increasing usage and adoption of pet wearables by the owners, especially in the western countries.
North America Dominates the Market and is Expected to Follow the Same Trend in the Forecast Period
North America currently dominates the pet wearable market and is expected to continue its stronghold for a few more years. The United States is expected to retain its significant market share in the pet wearable market over the forecast period, owing to the growing adoption of companion animals, high disposable income, and increasing per capita animal healthcare expenditure. The rise in awareness about pet health among pet owners, the increase in product innovation, sophisticated technology, and a high percentage of tech-savvy owners are some other significant factors driving the growth of the US pet wearable market.
Competitive Landscape
Companies, like Garmin Ltd, Dogtra, Fitbark Inc., Mars Incorporated, and Binatone Global, are expected to hold substantial market shares during the forecast period. As the pet wearable market is spreading across the developing regions, smaller companies are expected to contribute majorly to the growth of this market.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Awareness about Pet’s Physical and Mental Fitness
4.2.2 Increasing Adoption of IoT
4.2.3 Growth in Demand for Pet Monitoring
4.2.4 Technological Advancements
4.3 Market Restraints
4.3.1 Battery Life Issues of Devices
4.3.2 High Cost of Products
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Smart Collar
5.1.2 Smart Camera
5.1.3 Smart Harness and Vest
5.1.4 Tags
5.2 By Technology
5.2.1 GPS
5.2.2 RFID
5.2.3 Sensors
5.2.4 Other Technologies
5.3 By Application
5.3.1 Identification and Tracking
5.3.2 Monitoring and Control
5.3.3 Medical Diagnosis and Treatment
5.3.4 Facilitation, Safety, and Security
5.4 By Animal Type
5.4.1 Companion
5.4.2 Livestock
5.5 Geography
5.5.1 North America
5.5.1.1 US
5.5.1.2 Canada
5.5.1.3 Mexico
5.5.2 Europe
5.5.2.1 Germany
5.5.2.2 UK
5.5.2.3 France
5.5.2.4 Italy
5.5.2.5 Spain
5.5.2.6 Rest of Europe
5.5.3 Asia-Pacific
5.5.3.1 China
5.5.3.2 Japan
5.5.3.3 India
5.5.3.4 Australia
5.5.3.5 South Korea
5.5.3.6 Rest of Asia-Pacific
5.5.4 Middle East & Africa
5.5.4.1 GCC
5.5.4.2 South Africa
5.5.4.3 Rest of Middle East & Africa
5.5.5 South America
5.5.5.1 Brazil
5.5.5.2 Argentina
5.5.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Binatone Global
6.1.2 Cybortra Technology Co. Ltd
6.1.3 FitBark Inc.
6.1.4 Garmin Ltd
6.1.5 KYON
6.1.6 Loc8tor Ltd
6.1.7 Dogtra
6.1.8 PetPace Ltd
6.1.9 Mars Incorporated (Whistle Labs Inc.)
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
By Product
Smart Collar
Smart Camera
Smart Harness and Vest
Tags
By Technology
GPS
RFID
Sensors
Other Technologies
By Application
Identification and Tracking
Monitoring and Control
Medical Diagnosis and Treatment
Facilitation, Safety, and Security
By Animal Type
Companion
Livestock
Geography
North America
US
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America