Pet Food Ingredients Market Trends: CAGR of 4.8% Envisioned for USD 1.2 Billion by 2030
Pet Food Ingredients Market Outlook
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. Pets require essential nutrients such as proteins, vitamins, and minerals to stay strong and healthy. Concern for a healthier lifestyle, fewer digestive disorders, high energy level, healthy weight, and longer lifespan in pets are few of the key drivers boosting the growth of pet food ingredients market. The ingredients used in pet food are available in raw form, and the further processing is done by the pet food processors. Pet Food Ingredients Market Size Anticipated to Reach at a USD 1.2 billion by 2030, with CAGR of 4.8% by 2021 to 2030.
Pet food ingredients market 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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