Pet Food Ingredients Market by Type, Key Player, Revenue, Product, Insights Outlook Forecast 2024 -2032
Pet Food Ingredients Market Highlights
Pet
Food Ingredients Market is poised to reach a valuation of USD 1.2 billion by
2030, exhibiting a compound annual growth rate (CAGR) of 4.8% from 2021 to
2030.The market for pet food ingredients is expected to witness significant
growth in the forecast period, driven by the increasing concern of pet owners
regarding animal health. Pet food is comprised of essential nutrients including
protein, carbohydrates, vitamins, minerals, fats, and additives. These
nutritional components are derived from animal, plant, and synthetic sources,
with each ingredient playing a vital role in providing nourishment to the
animal's body.
The pet food ingredients market has been segmented by
ingredients into meat & meat products, cereals, vegetables, fats, and
additives. Meat & meat products segment generate the most revenue in the
market owing to the enhanced palatability and acceptability of meat-based pet
food. Meat is a good source of glucosamine, chondroitin, vitamins, and protein,
among others, that help in brain development, bone health, and immune system of
pets.
Pet
food ingredients market is segmented by pet into dog, cat, fish, and others.
The dog segment is generating the maximum revenue in the market, owing to the
rising adoption of different breeds of dogs worldwide. Dogs need extra
nutritional values than other pets in terms of health and performance thereby
boosting the growth of dog food ingredients market.
In
terms of form, pet food ingredients market is segmented into dry and liquid,
where dry ingredients market dominate the market. Dry pet food ingredients have
more nutrition content and its low moisture level offers longer shelf life than
liquid form, thereby driving the market for dry pet food ingredients market.
The
market, by source, is segmented into animal based, plant based, and synthetic.
The animal-based source segment is the most dominating segment in the market
since animals sourced pet food are an excellent source of proteins and other
nutrients essential for a pet diet.
Regional Analysis
Geographically,
North America is witnessed to hold the maximum share in the global pet food
ingredients market owing to the rising demand for healthier pet diet. With
increasing pet humanization, health concern among pet owners for pets
have also increased in this region. Europe contributes a healthy revenue share
towards global pet food ingredients market owing to the rising pet adoption.
Majority of the households in this region own at least one pet and consider
every possible measure to take care of these pets.
Asia-Pacific
is expected to be the fastest growing market for pet food ingredients owing to
the increasing adoption of pets that mainly include cats. Pet Fair Asia is the
largest annual trade show of animal supplies and aquariums in Asia. Such
exhibitions boost the demand for pet food ingredients in the region.
Segmentation
The
global pet food ingredients market has been segmented into ingredient, pet,
form, source, and region.
The
market on the basis of ingredient has been segmented into meat & meat
products, cereals, vegetables, fats, and additives.
The
market, by pet, has been segmented into dog, cat, fish, and others.
The
market, by form, has been segmented into dry ingredients and liquid
ingredients.
The
market, by source, has been segmented into plant based, animal based, and
synthetic.
Key Players
Some
of the key players in the global pet food ingredients market are Archer Daniels
Midland Co. (US), DSM N.V. (The Netherlands), Cargill, Inc. (US), BASF SE
(Germany), Ingredion, Inc. (US), Roquette Frères (France), SunOpta (Canada),
DowDuPont, Inc. (US), Omega Protein Corp. (US), and John Pointon & Sons
Ltd. (UK).
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