Due to increasing pet humanization, a growing number of pet owners are treating their animals as family members. Therefore, they give importance to high quality, healthy pet food which contain natural ingredients. According to a recent Future Market Insights (FMI) report, increasing the awareness about the benefits of natural and organic ingredients are proving beneficial to the grape seed extract market, reaching a valuation of US$ 39.2 Mn in 2021.
Grape seed extract is a naturally derived ingredient, which is considered essential in supporting pet health and general wellbeing. The Pet Food Manufacturers Association has stated that more than 54% of the pet owners are influenced by natural and organic ingredients claims on the pet food. Therefore, the trend of clean label ingredients is elevating the demand for grape seed and associated products in pet food applications.
Grapes seed extract applications in the pet food sector is reflecting sustained growth. Strengthening partnerships in high growth regions to expand product offerings across the globe and product innovation due to increasing demand for healthy food for pets are factors boosting the demand for grapes seed extract. According to FMI, conventional grape seed extract will remain highly sought-after in pet food application, accounting for over 78% of sales in the market in 2021
FMI has delved deeply into the prevailing dynamics of the market in order to offer interesting insights into the grape seed extract in pet food application market. Some of these are:
Key Takeaways from Grape Seed Extract Market Study
- Grape seed extract market is estimated to account for 5.7% CAGR in the forecast period with large-scale applications in the animal feed sector.
- The U.S. grape seed extract market is estimated to be valued at US$ 16.6 Mn in the year 2021, driven by pet food applications.
- Conventional nature of grape seed extract market accounts for more than 74% of the market owing to easy access to raw materials and lower costs of production.
- France and Germany are key markets for grape seed extract in the EU, owing to relatively mature markets for raw materials.
- Norway and Bulgaria are nascent albeit high potential markets for grape seed extract, exhibiting CAGRs of more than 8% in the Europe market.
- India and China will dominate the Asia Pacific market for grape seed extract, accounting for more than 15% and 18% of the regional market share respectively.
“Research and development activities are positively influencing the grape seed extract market. However, expenditure incurred can affect improvements in productivity, product quality and product portfolio. Innovation and R&D investments are key strategies adopted in the pet food industry to meet consumer demand. This in turn will positively influence grape seed extract supply chains through the assessment period,” said a lead analyst at FMI
Increasing awareness regarding health benefits of supplements for pets and consumers preference for pet foods that include beat pulp, grape seed extract, quillaja extract, tomato extract, and other natural ingredients will drive sales. Owing to the anti-oxidant and anti-inflammatory benefits of grape seed extract, demand in the pet food industry has grown.