Global Pet Food Ingredients Market Research Report: Forecast (2024-2030)

Market Definition

Pet food is animal feed manufactured especially for consumption by pets to meet their nutritional needs and maintain balanced health. These foods are specific to the animal type, breed, size, consumption needs, & other such parameters and are available in both wet & dry forms with ingredients like meat, meat byproducts, fats, additives like vitamins & minerals, & cereals like wheat, and grain, among others.

Market Insights & Analysis: Global Pet Food Ingredients Market (2024-30):

The Global Pet Food Ingredients Market size was valued at around USD 32.12 billion in 2023 and is projected to grow at a CAGR of around 7.1% during the forecast period, i.e., 2024-30. Most of the market expansion would be propelled by the mounting adoption of pets worldwide, especially among nuclear families, childless couples, singles in apartments, and others, as a companion and emotional support, demonstrating a high demand for pet food for the balanced health of the animals. Besides, with the growing trends of pet humanization & high emphasis on feeding nutritional food, consumers are augmenting the demand for an extensive range of pet foods, catering to the requirements of different animals with diverse needs. For instance:

• Almost 95% of pet owners assume their pet is a part of the family & believe in giving importance to the quality of food ingredients. Hence, such consumer preference for high-quality ingredients in pet food is boosting the demand for premium & super-premium pet food & stimulating the market.

Moreover, spreading awareness among pet owners about the benefits & availability of pet food, such as the presence of nutrients like minerals, dietary fiber, carotenoids, & omega-3 fatty acids, among others, is hinting toward hiking sales & demand for these products. The same aspect is also generating growth opportunities for the top market players to increase their production & distribution capacities and cater to the burgeoning requirements globally.

Furthermore, the availability of an extensive range of pet food products depending on breeds, life stages, price points, ingredient preferences, disease conditions, and other needs is also playing a prominent role in augmenting the size & volume of the Global Pet Food Ingredients Market during the forecast period.

Global Pet Food Ingredients Market Driver:

Rising Pet Ownership Driving Market Growth – The Global Pet Food Ingredients Market is developing at a rapid pace because of increased pet ownership. Most families around the world have pets, augmenting demand for top-rate pet meals that satisfy the dietary requirements of the pets. Pet owners are increasingly choosing premium, herbal, and special pet food items with top-class ingredients because of their increased recognition of the fitness and well-being of their animals. Pet owners constantly search out products for their animals that can be similar to human dietary necessities and consist of ingredients like excessive protein meats, cereals, vegetables, and useful components that support overall wellness.  Such conduct of pet owners is paving the strong direction for the revenue growth of the Pet Food Ingredients Industry.

Moreover, the requirement for novel and various pet meal components is rising because of the pet meal industry's boom in emerging economies, fueled by increasing disposable incomes and changing lifestyles. To meet the demands of this expanding industry, manufacturers are making investments in the manufacturing and buying of top-rate, sustainable, and nutrient-dense ingredients, that are augmenting the size & volume of the Global Pet Food Ingredients Market.

Global Pet Food Ingredients Market Challenge:

Strict Norms & Regulations Hindering Market Growth & Expansion – The pet food ingredients industry is facing significant challenges because of stringent norms and regulations. To ensure safety, quality, and adequate nutrition, regulatory organizations from multiple domains impose strict guidelines on the sourcing, processing, and labeling of goods used in 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.

Moreover, international trade and market growth efforts are made more difficult by the constant modifications and variations in rules among nations. Ensuring ingredients meet the various regulatory standards can be especially difficult for market players that operate in several regions. As per regulatory authorities around the sector, it is far critical to follow prescribed regulations because non-compliance can cause product recall, financial penalties, and a lack of a logo's reputation. Therefore, pet food ingredient manufacturers face a lot of difficulties in meeting the complicated regulatory framework to hold the safety, quality, and affordability of their products in the global aggressive landscape.

Global Pet Food Ingredients Market Trend:

Increasing Demand for Natural & Organic Ingredients Changing Market Dynamics – The increasing demand for natural and organic components is one of the key developments in the pet food ingredients industry. Pet owners' food preferences are changing and they're looking to include more natural and herbal foods due to their increasing recognition of the well-being and fitness of their pets. Pet owners' preferences are changing due to 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. 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.

Moreover, pet owners who prioritize environmental sustainability are more and more choosing organic ingredients, which can be grown without the use of artificial insecticides and fertilizers. The market outlook is changing and getting more different because of this rising fashion, which inspires pet food producers to innovate and amplify their line of products to include greater organic and natural alternatives.

Global Pet Food Ingredients Market (2024-30): Segmentation Analysis

The Global Pet Food Ingredients Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2024–2030 at the global level. Based on the analysis, the market has been further classified as:

Based on Pet:

• Dog
• Cat
• Fish
• Others (Rabbit, Bird, etc.)

The dog segment holds the largest share of the Global Pet Food Ingredients Market, mainly due to the new era of humanization of pets and rising consciousness among people about their pets' health. Consequently, it is leading to the mounting demand for high-quality pet food that doesn't have contents like grain, dye, sugar, & other toxic additives. The emerging trend of humanization of dogs that cites an immense need for their superior maintenance & well-being is thus driving the sales of natural pet food & ingredients.

In addition, especially during the pandemic, the world witnessed a rapid rise in dog adoption, which, in turn, made people spend more family time with them and surged the demand for healthy dog treats. Several pet food manufacturers are launching organic & breed-specific food with healthy ingredients to fulfill the nutritional requirements of the increasing number of dogs as pets, thereby fueling the size & volume of this segment in the Global Pet Food Ingredients Market.

Based on Form:

• Dry
• Wet

Here, the dry form of pet food holds a significant market share since it is the most preferred choice of pet owners owing to its higher convenience & shelf-life than wet food. The firm texture of dry pet food allows pets to chew their food, which helps prevent tartar & plaque build-up or other oral diseases and thus aids in maintaining good dental hygiene. Moreover, its high moisture content keeps pets hydrated and provides health benefits to their urinary tract. Hence, due to these aspects, dry pet food is the clear leader with a sizable share in the Global Pet Food Ingredients Market.

Global Pet Food Ingredients Market (2024-30): Regional Projections

Geographically, the Global Pet Food Ingredients Market expands across:

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

North America acquired the largest share in the pet food ingredients industry in previous years, and the same trend is likely during the forecast period as well. This dominance is attributed to the growing sympathetic feeling, the advent of trends like pet humanization, & rising affordability among people to fulfill the need for their pets, among others, across different countries like the US & Canada, in the region. This aspect is augmenting the demand for pet food ingredients and generating lucrative opportunities for manufacturers to increase their production & distribution capacities, widen their product portfolio, and attain a massive consumer base across North America. Besides, growing awareness among pet owners about the benefits & need for these foods to keep up with the health & fulfillment of the nutritional requirements of these animals is also demonstrating a peaking production of pet food in the region.

• According to the American Pet Products Association (APPA), out of 85 million people in the US, a majority population owns a pet, and nearly half of the people in the country own cats as a pet.

Buckled with such high adoption of pets & positive attitude of the people toward animals in countries across North America, the demand for pet food shall remain prevalent, hinting toward lucrative opportunities for the players.

Followed by, South America is projected to attain the second-largest share in the Pet Food Ingredients Market in the coming years, backed by the high pet adoption rates across countries like Brazil through 2030. With an escalating number of pet owners across the country and the growing focus of the owners on offering high-quality & nutrient-rich food to their pets, the requirement for pet food shall observe a hike, underlying the market dynamics across South America. Nonetheless, Asia-Pacific shall emerge as an area of opportunity for the leading companies and contribute significantly to the growth of the Pet Food Ingredients Market in the coming years. It owes principally to the high pet adoption rates across countries like China, India, & Japan, among others, demonstrating a high demand for premium pet food. It, in turn, is also instigating the players to widen their product portfolio, production & distribution capacities, and reachability to cater to the unmet needs of the people across the region.

Moreover, improving internet connectivity & government encouragement for digitalization have paved the way for e-commerce sites to emerge as effective distribution channels for pet food sales. Online channels are swiftly becoming a primary mode of shopping for pet food due to the perks like convenience, exclusivity, and affluence, alongside an extensive variety of foods, ranging in different brands, tastes, & budgets, among others. The same aspect is showcasing high pet food sales through these channels, stimulating the overall pet food ingredients industry across Asia-Pacific.

Global Pet Food Ingredients Industry Recent Development:

• In September 2023: In Elven, France, Symrise AG established its pilot plant for dry pet food. The plant has lab research, a palatability performance assessing gadget, and an R&D unit to comprehend the dry pet food production process.
• In July 2023: Symrise AG modified the title of its brand of pet-feeding ingredients to "Nuvin." The company provides chicken, eggs, hydrolyzed protein, and other pet health solutions were intended to be strengthened by this.
• In June 2023: DSM established a state-of-the-art premix manufacturing facility in Tonganoxie, Kansas, to broaden its premix capabilities in North America. This new manufacturing facility is expected to begin operations in 2025 and is ideally located in the center of the United States, near the hub of the country's pet food manufacturing industry.
• In May 2022: All of Valley Proteins, Inc.'s shares were recently acquired by Darling Ingredients Inc. for a projected payment of around USD 1.1 billion. Valley Proteins has been in charge of 18 significant rendering and used cooking oil manufacturing facilities located in the mid-Atlantic, southeast, and southern regions of the United States. Serving the rendering and recycling industries, Valley Proteins employs 1,900 employees and has a fleet of 550 vehicles.

Gain a Competitive Edge with Our Global Pet Food Ingredients Market Report

1. Global Pet Food Ingredients Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & market share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of market dynamics & make informed decisions.
2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
3. Global Pet Food Ingredients Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.