Pet food ingredients are included in pet food products to enhance their nutritional content and enable the pet animals to meet their nutritional requirements of proteins, carbohydrates, fats, vitamins, minerals and water. They cater to a range of pet animals such as dogs, cats, fish and other pets such as rabbits, birds and horses. The pet food ingredients are also gaining significant traction in the industry with the increasing consciousness regarding pet nutrition among owners and rising pet humanization trend which has contributed towards increased spending on health focused pet food ingredients.
Pet food ingredients support the growth and development of pet animals, provide a rich source of vitamins and minerals that the pet animals cannot make in their bodies and also enhance the palatability of pet animals due to which they are in significant demand among the pet owners. Furthermore, the increasing pet adoption rates around the world and technological advancements, that have significantly contributed towards the enhancement of quality and shelf life of pet food ingredients in recent years, are likely to present significant business opportunities for pet food ingredients market over the forecasted period. From 2022 to 2027, the global pet food ingredients market size is expected to rise at a remarkable compound annual growth rate (CAGR) of 6.7%. This rising trend is expected to boost market value from $32.2 billion in 2022 to $44.5 billion by the end of 2027. The fast adoption of pets, as well as rising and emerging concern about their health and well-being, are predicted to fuel the increasing need for pet food ingredients.
Key points related to the pet food ingredients market:
Growing Pet Ownership Trends: The increasing trend of pet ownership, particularly in developed regions, has been a significant driver for the pet food industry. Pet owners are increasingly concerned about the quality and nutritional value of the food they provide to their pets.
Demand for Natural Pet Food Ingredients: Consumers are becoming more conscious about the ingredients used in pet food. There has been a growing demand for natural pet food ingredients, as well as those with specific health benefits, such as those promoting joint health or a shiny coat. omega-3 fatty acids, antioxidants, and probiotics are commonly used ingredients in the pet food industry.
Protein Sources: Protein is a crucial component of pet food. Traditionally, animal by-products were common ingredients, but there has been a shift towards using high-quality protein sources like deboned meat, fish, and plant-based proteins. This reflects the broader trend of humanization of pets.
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Grain-Free and Limited Ingredient Diets: Some pet owners are opting for grain-free and limited ingredient diets for their pets, influenced by similar trends in human food. This has led to an increased demand for alternative sources of carbohydrates and a focus on the quality of grains used.
Premiumization of Pet Food: There has been a noticeable trend towards premium and specialty pet foods. This includes specialized diets for different life stages, breed sizes, and health conditions. Premium pet food often uses higher quality ingredients and has a higher price point.
Sustainability and Ethical Sourcing: Concerns about sustainability and ethical sourcing have influenced the pet food industry. Consumers are looking for brands that prioritize environmentally friendly practices and ethical treatment of animals in the sourcing and production of ingredients.
Market Drivers: Switch from mass products to organic pet food ingredients
According to APPA, in the pet industry, the spending on pet food is around one-third of the total spending. In 2016, around USD 8.2 billion was spent in the US on organic food products. According to an article published in the UK on dog food, the volume of pet food sold has declined by 3%, whereas the value has increased by 2%, stressing on the fact that pet owners are moving toward organic and premium products. Also, there is a rising interest among US pet owners for natural, locally-sourced treats, and chews, which has also led to the increased sales of organic pet food ingredients. Additionally, an increase in obesity among pets has encouraged pet owners to demand organic, clean, and protein-rich food products.
Asia Pacific accounted for the fastest-growing region for the pet food ingredients industry. The Asia Pacific pet food ingredients market is driven by the rising pet population and rising demand for pet food. Developing countries such as China and India have a significant population of pets. Factors such as emerging economies, a rising middle-class population, and a rise in awareness regarding the health and well-being of animals, have further contributed to the adoption of pet animals in the region.
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Major brands described:
Key players in this market include BASF SE (Germany), Darling Ingredients Inc. (US), Cargill (US), Ingredion (US), DSM (Netherlands), Omega Protein Corporation (US), ADM (US), Kemin Industries, Inc. (US), Chr. Hansen Holding A/S (Denmark) and Roquette Frères (France).
The dog segment is projected to account for the largest market share in the pet food ingredients market
Based on pet, the dogs segment is projected to account for the largest market share in the pet food ingredients market. Dogs are the most popular pets, with a healthy adoption rate globally. A wide variety of pet food ingredients composed of plant derivatives and animal-based ingredients are needed to meet the nutritional requirements of dogs. Pet food ingredients such as colors and flavors are also used extensively in dog food products to enhance their palatability and feed intake. The high applicability of pet food ingredients in dog food is expected to drive the growth of this segment. The dog food market is a significant component of the broader pet food industry, and its growth is closely tied to the increasing popularity of dogs as pets globally.
Recent Developments:
- In July 2022, BASF SE (Germany) announced plans to expand its vitamin A formulation plant for animal nutrition. With this strategic initiative, the company intended to consolidate its market position as a market leader in the industry.
- In June 2022, DSM (Netherlands) acquired Prodap (Brazil), one of Brazil’s leading animal nutrition technologies, to enhance its R&D and technological capabilities in the animal nutrition industry. This acquisition would also enable access to more markets on a global scale and cater to a larger customer base.
- In May 2022, Darling Ingredients Inc. (US) completed the acquisition of Valley Proteins (US), a leading producer of animal-based fats and by-product meals, based in the US. This strategic initiative was intended to strengthen the product portfolio of the company and cater efficiently to the rising demand in the industry.
- In February 2021, Cargill (US) launched a new range of by-product meals namely, The Chompery, that specifically caters to companion animals such as dogs and is a dog treat that contains bones, ribs, windpipes, and jerkies.
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Data Bridge Market Research has recently added a concise research on Pet Food Ingredients Market to depict valuable insights related to significant market trends driving the industry.
The report features analysis based on key opportunities and challenges confronted by market leaders while highlighting their competitive setting and corporate strategies for the estimated timeline.
Some are the key & emerging players that are part of coverage and have being profiled are BASF SE, Archer Daniels Midland Company, E. I.
Du Pont De Nemours and Company, Koninklijke DSM N.V., Ingredion Incorporated, The Scoular Company, Roquette Frères, Darling Ingredients Inc, Omega Protien Corporation, John Pointon & Sons Ltd, Del Monte Foods Co., Colgate-Palmolive Co., Nestle’ SAThe Global Pet Food Ingredients Market has market value of USD 58.6 billion in 2017 growing at a CAGR of 3.9% during the forecast period of 2018 to 2025.Download PDF Sample report @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-pet-food-ingredients-marketMarket Definition: Global Pet Food Ingredients MarketPets are adopted extensively by people who wish to have a have a companion in the form of a pet.
Pet owners are increasing day by day and so are their concerns related to pet’s health.
The purchasing of the pet food by the pet owner are based on various factor such as high nutrition content and other factors that benefit the health of the pets.
