According to MarkNtel Advisors, the Global Pet Food Ingredients Market is set to record around 7.88% CAGR during 2022-27. The growing rate of pet adoption is surging the demand for pet food globally to maintain the balanced health of animals and, in turn, driving the pet food ingredients market. In addition, the emerging trend of humanization of pets, i.e., resulting in increasing focus of people on feeding nutritional food to their pets, is another crucial aspect fueling the market growth.
Pet owners worldwide are becoming increasingly aware of the importance & rising availability of pet food with nutrients like minerals, dietary fiber, carotenoids, & omega-3 fatty acids, among others, i.e., generating numerous prospects for manufacturers to expand their production & distribution capacities in order to cater to the burgeoning requirements for pet food worldwide. As a result, their active efforts toward introducing pet food specific to breeds, life stages, price points, ingredient preferences, disease conditions, & other parameters are citing profitable opportunities for the pet food ingredients market through 2027.
The Most-Preferred Pets Globally, Dogs, to attain the Largest Market Share through 2027
Among all animals, dogs continue to remain the first choice of people as pets and hold the largest share in the Global Pet Food Ingredients Market. The ongoing era of humanization of dogs has indeed instigated the need for their exceptional well-being & health, i.e., propelling the demand for natural food & ingredients in dog food without dye, sugar, and grain, among other harmful substances. The entire world has been witnessing an increasing adoption of dogs, especially with the advent of Covid-19, and people are excessively spending on healthy dog treats. Consequently, food makers are introducing organic & breed-specific food to cater to the nutritional needs of dogs, thereby stimulating the expansion of the pet food ingredients market.
Asia-Pacific to Emerge as an Area of Lucrative Growth Prospects for the Pet Food Ingredients Industry
The Asia-Pacific Pet Food Ingredients Market is set to witness a notable growth rate during 2022-27, owing to the snowballing adoption of pets, especially across India, Japan, & China, i.e., driving the demand for premium quality pet food & ingredients. In addition, the rapidly booming e-commerce sector across the region is another significant contributor to the market expansion as more & more online platforms are emerging and offering a wide variety of pet food. With perks like offers, discounts, fast doorstep deliveries, & multiple payment options, among others, online pet food sales are flourishing across Asia-Pacific and hence promulgating the pet food ingredients industry.
The key companies in the Global Pet Food Ingredients Market include Darling Ingredients Inc., Ingredion Incorporated, Omega Protein Corporation, Kemin Industries Inc., Chr. Hansen Holding A/S, Roquette Freres, Sariah A/S GMBH & Co.KG, The Scoular Company, Phileo by Leasaffre, LaBudde Group Inc., Linkone Ingredients Solution, 3D Corporate Solutions, Hydrite Chemicals, Green Source Organics, Vivitiva DOO, AFB International, Symrise AG, Zinpro Corporations, Kerry Group Plc., and Foodsafe Technologies.
Key Questions Answered in the Research Report: