Press Release

A USD 32.12 Billion Global Pet Food Ingredients Market to Grow at a CAGR of Around 7.1% During 2024-30

The Global Pet Food Ingredients Market size was valued at around USD 32.12 billion in 2023 and is anticipated to grow at a CAGR of about 7.1% during the forecast period of 2024-30, cites MarkNtel Advisors in their recent research report. The growing rate of pet adoption is surging the demand for pet food ingredients globally to maintain the balanced health of animals and, in turn, driving the growth & expansion of the pet food ingredients industry. 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 size.

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 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 2030.

Moreover, the increasing demand for natural and organic components is one of the key trends in the pet food ingredients industry. Pet owners' food preferences are changing and they're looking to include more natural and organic alternatives due to their increasing recognition of the well-being and fitness of their pets. With the increasing knowledge of the viable fitness blessings associated with natural and organic elements, together with improved digestion, reduced allergic reaction worries, and accelerated nutrient absorption, pet owners' preferences are changing. The demand for pet food products that are synthetic with real meat, whole grains, veggies, and other healthy factors but without artificial components, preservatives, or fillers is increasing as an outcome. Ultimately, this is augmenting the size & volume of the Global Pet Food Ingredients Market.

Despite a positive market outlook, the pet food ingredients industry is facing significant challenges because of stringent norms and regulations imposed by the regulatory authorities worldwide. To ensure safety, quality, and adequate nutrition, regulatory organizations from multiple domains impose strict guidelines on the sourcing, processing, and labeling of products used as pet food. Manufacturers might experience an upsurge in production costs as a consequence of the significant investments needed for quality control systems, certification processes, and comprehensive testing to comply with these standards. Thus, such challenges if not addressed properly may hinder the growth & development of the pet food ingredients industry, further states the research report, “Global Pet Food Ingredients Market Analysis, 2024.”

Global Pet Food Ingredients Market Segmentation Analysis

Dog Segment Holds a Major Market Share

Based on the pet, the market is further bifurcated into dog, cat, fish, and others (rabbit, bird, etc.). Among all animals, the dog segment continues to remain the first choice of people as pets and holds 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 Register a Significant Revenue Growth During Forecast Period

The Asia-Pacific Pet Food Ingredients Market is set to witness a notable growth rate during 2024-30, 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 in this region.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including 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 Lesaffre, 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., Foodsafe Technologies, DSM and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across the regions?
6. How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?