Global Pet Food Ingredients Market Insights Forecasts to 2030
- The Global Pet Food Ingredients Market was valued at USD 29.98 billion in 2021
- The market is growing at a CAGR of 6.2% from 2021 to 2030
- The Worldwide Pet Food Ingredients Market size is expected to reach USD 51.54 billion by 2030
- North America is expected to grow the fastest during the forecast period
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The Global Pet Food Ingredients Market is anticipated to reach USD 51.54 billion by 2030, at a CAGR of 6.2% during the forecast period from 2021 to 2030. The growing awareness of the nutritional benefits of omega-3 fatty acids, minerals, dietary fiber, and carotenoids required for pet nutrition is driving the market for pet food ingredients. Furthermore, these ingredients improve digestive health, aid in weight management, and boost the immune system, all of which contribute to market expansion.
Pet food is an animal or plant product, such as meat, that is used to feed companion animals. Pet food ingredients include animal derivatives, grains and oilseeds, vegetables and fruits, minerals, and vitamins. Pet food ingredients are high in vitamins, fiber, protein, carbohydrates, and calcium. The cost of owning pets and purchasing food products has risen significantly over the past few years, which is fueling the worldwide market for pet food ingredients. Because pet owners are increasing their spending on different kinds of food products, the global pet food sector has grown in tandem with the number of pets. An increase in dog and cat adoption, as well as a growing emphasis on improving productivity and health, are some of the market's primary factors. The industry is expected to grow further due to the easy availability of pet food items across a variety of platforms, including retail stores, supermarkets, and online retailers. Furthermore, dogs and cats are among the most commonly adopted animals, which is one of the key factors driving market trends. The demand for high-quality pet food products has increased significantly in recent years due to the growing awareness among pet owners about the importance of providing their pets with healthy and nutritious food. This has led to an increase in the production of premium pet food products that contain high-quality ingredients.
This research report categorizes the market for the global pet food ingredients market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the pet food ingredients market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the pet food ingredients market.
Global Pet Food Ingredients Market Report Coverage
|Market Size in 2021:||USD 29.98 billion|
|Forecast Period 2021-2030 CAGR:||6.2%|
|2030 Value Projection:||USD 51.54 billion|
|Historical Data for:||2017-2020|
|No. of Pages:||200|
|Tables, Charts & Figures:||105|
|Segments covered:||By Pet Type, By Form, By Source and By Region.|
|Companies Covered:||Chr. Hansen Holding A/S, Kemin Industries, Inc, ADM, Omega Protein Corporation, Ingredion, DSM, Cargill, BASF SE, Darling Ingredients Inc., AFB International, DuPont Nutrition, Balchem Inc., Symrise, The Peterson Company, Roquette Frères.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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The major driver of the market is the increasing adoption of pets worldwide. As more people adopt pets, the demand for pet food products also increases. Another major driver of the Pet Food Ingredients Market is the increasing demand for high-quality and nutritious pet food products. As more pet owners become aware of the importance of providing their pets with healthy food, they are willing to pay a premium for products that contain high-quality ingredients. This has led to an increase in the production of premium pet food products that contain natural and organic ingredients. Technological advancements in pet food manufacturing have also contributed to the growth of the market. Manufacturers are using advanced technologies such as extrusion and freeze-drying to produce high-quality pet food products that retain their nutritional value while also being convenient for pet owners to use.
Regulatory issues could be a potential restraint on the market. Manufacturers need to comply with various regulations and standards related to pet food production and labeling. Changes in regulations or failure to comply with existing regulations could lead to fines and other penalties, which could impact manufacturers' profitability. Another major restraint is the increasing competition in the market. As the demand for high-quality pet food products continues to grow, more manufacturers are entering the market, leading to increased competition. This could potentially lead to a price war and lower profit margins for manufacturers.
The Global Pet Food Ingredients Market share is categorized into pet type, form, and source.
- The dog segment is expected to hold the largest market share in the pet food ingredients market over the forecast period.
Based on the pet type, the global pet food ingredients market is differentiated into cats, dogs, fish, and others. Among these, the dog segment holds the largest market because dogs are among the most popular pets, with a healthy increasing adoption rate worldwide. To meet the nutritional needs of dogs, a wide range of pet food ingredients composed of plant derivatives and animal-based ingredients is required. Colors and flavours, as well as other pet food ingredients, are widely used in dog food products to improve palatability and feed intake. This segment's growth is expected to be driven by the high applicability of pet food ingredients in dog food.
- In 2021, the dry pet food segment held the largest share of the pet food ingredients market
Based on the form, the global pet food ingredients market is classified into dry and wet. Among these, the dry pet food segment held the largest share of the pet food ingredients market in 2021. The reason for the growth is due to its greater convenience and longer storage and shelf life. Furthermore, demand for dry pet food is increasing due to its affordability and low moisture content, which allows for easy handling during processing and storage. Moreover, dry food has a firm texture that helps pets maintain their dental health, which is projected to fuel segment growth.
- The animal-based segment is anticipated to hold the largest share of the pet food ingredients market during the forecast timeframe.
Based on the source, the global pet food ingredients market is categorized into plant derivatives, animal-based, and synthetic. Among these, the animal-based segment is expected to hold the largest share of the pet food ingredients market during the predicted timeframe. The reason behind the growth is due to a variety of meals, including meat, which is a by-product of animal sources. The growing number of pet owners who prefer food high in protein, vitamins, fatty acids, and iron for their pets. Furthermore, udders, liver, and chicken feet are sources of various amino acids and nutrients that meet the needs of pets; these food products are projected to propel segmental growth.
Regional Segment Analysis of the Pet Food Ingredients Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific is expected to hold the largest share of the market during the predicted timeframe.
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Asia Pacific is expected to hold the largest market over the forecast period due to the large pet population, high adoption rates, and growing awareness of pet nutrition and health. Furthermore, growing pet owner awareness of the benefits of animal feed additives, as well as the presence of an established Pet Food Industry, are driving market growth in the Asia Pacific. Rising disposable income due to urbanization, increased demand for pet food, changing consumer perceptions of pet health, and the rising trend of nuclear families are all factors driving the market. The market's growth is aided by the mixture of different cultures, which results in different purchasing patterns. High academic levels and advanced infrastructure facilities are accompanied by a strong sense of culture and locality in economically developed countries such as Japan and Korea. These factors have increased the humanization of pets, which is fueling the growth of the pet food market.
North America is estimated to grow fastest during the prediction timeframe due to the rising innovation by pet food ingredients products manufacturers and the rising pet adoption rate in the region. The North America Pet Food Ingredients Market is being driven by high pet ownership rates for dogs, cats, and fish, an increase in consumer spending on pet maintenance, and favourable government policies. Furthermore, growing pet owner awareness of the benefits of animal feed additives, as well as the presence of an established Pet Food Industry, are driving market growth in North America.
The report offers the appropriate analysis of the key organizations/companies involved within the global pet food ingredients market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Chr. Hansen Holding A/S
- Kemin Industries, Inc
- Omega Protein Corporation
- BASF SE
- Darling Ingredients Inc.
- AFB International
- DuPont Nutrition
- Balchem Inc.
- The Peterson Company
- Roquette Frères
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In May 2022, Darling Ingredients Inc. (US) has completed the acquisition of Valley Proteins (US), a leading US producer of animal-based fats and by-product meals. This strategic initiative was designed to strengthen the company's product portfolio and efficiently cater to the industry's rising demand.
- In June 2022, DSM has acquired Prodap, one of the leading animal nutrition technologies in Brazil, to strengthen its R&D and technological capabilities in the animal nutrition industry. This acquisition would also provide access to more global markets and a larger customer base.
- In July 2022, BASF SE plans to expand its vitamin A formulation plant in order to improve animal nutrition. With this development, the company hopes to strengthen its market position among the leading players.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the Global Pet Food Ingredients Market based on the below-mentioned segments:
Global Pet Food Ingredients Market, By Pet Type
Global Pet Food Ingredients Market, By Form
Global Pet Food Ingredients Market, By Source
- Plant Derivatives
Global Pet Food Ingredients Market, By Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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