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Global Pet Food Ingredients Market Size By Source (Plant Derivatives, Additives), By Animal (Fish, Cat), By Form (Wet Pet Food, Dry Pet Food), By Geographic Scope And Forecast
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Pet Food Ingredients Market Size And Forecast
Pet Food Ingredients Market size was valued at USD 39.43 Billion in 2022 and is projected to reach USD 77.40 Billion by 2030, growing at a CAGR of 7.08% from 2023 to 2030.
An increase in the pet population, high digestibility & palatability of the product, and the growing awareness about the health of pets is expected to drive the Pet Food Ingredients Market over the predicted period. The Global Pet Food Ingredients Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Pet food ingredients Market Definition
Pet food is an animal or plant product used to feed pet animals. Pet food ingredients include animal products and derivatives, vitamins and minerals, fruits and vegetables, and grains and oilseeds. Pet food is rich in calcium, protein, fiber, carbohydrates, and micronutrients. It also contains omega 3 and omega 6 fatty acids for the metabolism and digestion of animals.
The pet food industry plays a vital role in the animal feed industry. Sources of pet food ingredients are Plant Derivatives, Additives, and Animal Derivatives. Based on the animal, they are classified into Fish, Cat, Dog, Birds, and Others. They are available in two forms Wet Pet Food and Dry Pet Food.
Global Pet food ingredients Market Overview
An increase in the pet population and the growing awareness about the health of pets are expected to drive the Pet Food Ingredients Market over the predicted period. The rising disposable income and lifestyle change of the Asia-Pacific expects a boost to the market in the coming years. Additionally, the high digestibility & palatability of the product and the upsurge in the demand for high-quality diets by pet owners are predicted to fuel the market during the forecasted years.
There are certain restraints and challenges faced which can hinder market growth. Factors such as the growing focus on the use of organic & natural products and increasing concern regarding the harmful effect of certain synthetic ingredients are likely to act as market restraints.
Global Pet Food Ingredients Market: Segmentation Analysis
The Global Pet Food Ingredients Market is segmented on the basis of Source, Animal, Form, And Geography.
Pet Food Ingredients Market, By Source
- Plant Derivatives
- Additives
- Animal Derivatives
Based on Source, The market is bifurcated into Plant Derivatives, Additives, and Animal Derivatives. The Animal Derivatives segment is expected to hold the largest market share. The factors can be attributed to their ability to provide essential protein, fatty acids, iron, calcium, phosphorus, and vitamins.
Pet Food Ingredients Market, By Animal
- Fish
- Cat
- Dog
- Birds
- Others
Based on Animal, The market is bifurcated into Fish, Cat, Dog, Birds, and Others. The Dog segment is predicted to hold the most significant CAGR in the forecasted period as the Dog is the most popular adopted pet.
Pet Food Ingredients Market, By Form
- Wet Pet Food
- Dry Pet Food
Based on Form, The market is bifurcated into Wet Pet Food and Dry Pet Food. Dry Pet Food is anticipated to hold the largest market share. The factors can be credited for their cost-effective nature and low moisture content that facilitates convenient handling during processing & storage.
Pet Food Ingredients Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
On the basis of Regional Analysis, The Global Pet food ingredients Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The largest share in the market will be dominated by South America followed by the Asia Pacific owing to increasing disposable income, rising population, and growing humanization trend.
Key Players
The “Global Pet Food Ingredients Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are BASF SE, John Pointon & Sons Ltd., Archer Daniels Midland Company, Omega Protien Corporation, E. I. Du Pont De Nemours and Company, Darling Ingredients Inc., Koninklijke DSM N.V., Roquette Frères, Ingredion Incorporated, The Scoular Company.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
Product Launches and Product Expansions
- ORIJEN Premium Wet Dog Food, created with premium animal ingredients, was introduced in 2021. (protein).
- Mars, Inc., a renowned pet food producer based in the United States, invested USD 200 million on its Royal Canin plant in Lebanon in March 2021. To double manufacturing capacity, the company will build five new corporate lines.
- In September 2020, DuPont Nutrition & Health (DuPont) announced the opening of a new animal nutrition production enterprise in China. This new manufacturing factory will provide customized solutions to the local animal production industry, based on DuPont’s global quality standards and innovative technology.
- Nestle Purina Petcare announced in December 2020 that it would invest USD 550 million in Georgia to expand its pet food manufacturing facilities.
- Darling Ingredients acquired EnviroFlight, LLC. (US), which is owned by Intrexon Corporation (US), in January 2020 to expand in the creature feed business, which includes pet food ingredients, by providing a climate-friendly, poison-free, and sustainable source of high-value supplements.
- In April 2019, Ingredion Incorporated (US) increased its pet food ingredient range in the US and Canada by adding two high-functioning plant-based additives.
Mergers and Acquisitions
- Global Food and Ingredients Inc. purchased a cutting-edge plant-based pet food ingredients production facility in Bowden, Alberta, in October 2021.
- In June 2020, Biomin was acquired by Koninklijke DSM from Erber Group. Erber Group is known for its specialty animal nutrition and health business, and Bimoin specializes in mycotoxin risk and gut health performance management. Koninklijke DSM has expanded its animal health and nutrition product portfolio as a result of this.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period |
2019-2030 |
| Base Year |
2022 |
| Forecast Period |
2023-2030 |
| Historical Period |
2019-2021 |
| Unit |
Value (USD Billion) |
| Key Companies Profiled |
BASF SE, John Pointon & Sons Ltd., Archer Daniels Midland Company, Omega Protien Corporation, E. I. Du Pont De Nemours and Company. |
| Segments Covered |
By Source, By Animal, By Form, And By Geography. |
| Customization Scope |
Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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