The global pet food ingredients market size is projected to reach USD 53.2 billion by 2025, which was estimated at USD 38.6 billion in 2020; it is expected to grow at a CAGR of 6.6% from 2020. Factors such as rise in the disposable income of the middle-class population has led to an increase in the spending capacity on pets. Pets are treated as companions to the owners, and increasing health concerns of their pets have encouraged them to opt for premium pet food products. Pet owners prefer buying high-quality and differentiated food products for their pets to provide them nutrition and variety in pet food. Furthermore, the expansion of pet superstores has made premium and super-premium pet food easily accessible.
The pet food ingredients market, by ingredient, is segmented into cereals, vegetables, fruits, fats, meat & meat products, and additives. These segments are further sub-segmented into the commonly used ingredients in pet food. The pet food industry is reliant on these ingredients for commercial pet food manufacturing, to formulate nutritionally balanced and complete pet food as per the varying nutritional needs among different pet species. The majority of these ingredients are by-products of food products manufactured for human consumption, and thus prove to be an economical solution for pet food manufacturers.
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One of the emerging trends in the pet food industry is the incorporation of insects, as they are an excellent source of protein. Additionally, vegan and grain-free pet food products have been gaining popularity in the pet food industry. These trends are expected to increase the popularity of different fruits & vegetables in pet food to provide varied taste, texture, and flavor.
North America accounted for the largest market share in 2019. The pet food ingredients market is consolidated in North America and dominated by several companies such as ADM, Cargill, Ingredion, SunOpta, DuPont, Darling Ingredients, and Kemin. In North American countries such as the US and Canada, the pet food ingredients market is driven by the expansion of production plants of leading companies and acquisitions to meet the rising demand from the pet food industry. These factors have fueled the growth of the pet food ingredients market in the North American region.
This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such ADM (US), DSM (Netherlands), Cargill, Incorporated (US), BASF SE(Germany), Ingredion Incorporated (US), Roquette Frères (France), SunOpta (Canada), Darling Ingredients (US), Omega Protein Corporation (US), DuPont (US) and Kemin (US).
