Pet Food Ingredients Market

Pet Food Ingredients Market - Overview

The global pet food ingredients market is projected to grow at a favorable rate from 2021 to 2031 (forecast period). Pet food ingredients are derived from animal and plant products such as maize, cereals, meat, and so on. These substances supply important nutrients for the animal's normal functioning and growth. Increasing knowledge of pet owners regarding the value of pet food ingredients to animal health is expected to drive the growth of the global pet food ingredients market during the forecast period.

Likewise, increased pet adoption around the world, as well as a developing pet food industry and animal feed additives market, is projected to boost the global pet food ingredients market. Pet adoption is extremely popular among millennials and Generation Z since pets aid in the recovery of isolation, post-traumatic stress disorder, and mental illness, among other things.

Pet Food Ingredients Market - Competitive Landscape

Leading players in the pet food ingredients market are BASF SE (Germany), Omega Protein Corporation (US), Kemin Industries, Inc. (US), Darling Ingredients Inc. (US), DSM (Netherlands), ADM (US), Cargill (US), Ingredion (US), Roquette Frères (France), and Chr. Hansen Holding A/S (Denmark).

Market players are actively pursuing marketing tactics such as investments, alliances, technological innovations, R&D activities, and acquisitions to solidify their worldwide presence.

DSM (Netherlands) acquired Prodap (Brazil), one of Brazil's leading animal nutrition technologies, in June 2022 to strengthen its technology and R&D capabilities in the animal nutrition business. This acquisition is also expected to provide exposure to more worldwide markets and a broader consumer base.

Pet Food Ingredients Market - Trends and Opportunities

There is an increasing trend of people staying single or childless for longer periods of time, which has resulted in an increase in the adoption of companion animals. This trend is most noticeable in the United States and Europe; however, developing nations such as China and India are swiftly adapting. As a result, there is a clear demand for nutritious and healthful pet food, which is projected to drive the sales of pet food ingredients market.

The global pet food ingredients market has flourished in recent years as cats, dogs, birds, and fish have become incredibly popular as household pets. Over the following years, the number of pets is projected to expand at an exponential rate, providing revenue-generation opportunities in pet food ingredients market. Pet food, accessories, and medications are in high demand as more dogs and cats are adopted.

Growing connections to pets as a result of increased incomes and a societal change toward adopting pets as companions are anticipated to boost the global pet food ingredients market. Various scientific research shows that pets can also be used as stress reducers. This is another major factor projected to propel the global pet food ingredients market as pets become more common in households.

Moreover, the ingredients in pet food are rich in omega-3 fatty acids and protein. When these compounds are given to food, they boost the nutritional content of the feed and offer advantages such as greater protein digestibility, higher rate of growth, improved feed conversion, lower aquatic species mortality, and better immune system. As a result, it is expected that improving knowledge among pet food manufacturers about the beneficial properties of protein-rich ingredients will improve supply, propelling the global pet food ingredients market.

Pet Food Ingredients Market - Regional Landscape

The pet food ingredients market in Asia Pacific is estimated to develop during the forecast period. The rising population, increased disposable income, and the region's expanding humanization trend are key factors projected to boost the regional market. Moreover, the pet food ingredients market is changing from bulk to quality brands as consumer demand for natural products grows.

North America is expected to make significant contributions to the global pet food ingredients market during the forecast period. The United States is likely to be the largest revenue generator in pet food ingredients market in North America due to the existence of a strong pet food sector as well as a large ownership proportion of horses, cats, dogs, and so on. Moreover, given the population of dogs, fish, and cats, the country is regarded as one of the top five regions in the world.

The pet food ingredients market in Europe is anticipated to grow during the forecast period due to the existence of mature markets, a significant pet ownership ratio, and consumers' readiness to spend more on pet care.