Pet Food Ingredients Market Research Report: Forecast (2022-2027)
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. With the high adoption rate for pets globally, the demand for such food products is mounting rapidly across distribution channels like pet stores & supermarkets, alongside online platforms.
Market Insights
The Global Pet Food Ingredients Market is projected to grow at a CAGR of around 6.43% during the forecast period, i.e., 2022-27. 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:
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 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 shaping the industry dynamics across locations through 2027.
Market Segmentation
Based on Pet:
Of them all, Dogs hold the largest share in 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.
Report Coverage | Details |
---|---|
Study Period | Historical Data: 2017-20 |
Base Year: 2021 | |
Forecast Period: 2022-2027 | |
CAGR | 6.43% |
Regions Covered | North America: The US, Canada, Mexico |
South America: Brazil, Argentina, Rest of South America | |
Europe: Germany, The UK, France, Italy, Spain, Russia, Rest of Europe | |
Middle East & Africa: Saudi Arabia, The UAE, Egypt, Turkey, South Africa, Rest of Middle East & Africa | |
Asia-Pacific: China, Japan, India, South Korea, Australia, Rest of Asia-Pacific | |
Key Companies Profiled |
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., Foodsafe Technologies |
Unit Denominations | USD Million/Billion |
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 rich to fulfill the nutritional requirements of the increasing number of dogs as pets, thereby fueling the overall market growth.
Based on Form:
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 in the Global Pet Food Ingredients Market.
Regional Landscape
Geographically, the Global Pet Food Ingredients Market expands across:
Of all regions globally, North America acquired the largest share in the Pet Food Ingredients Market in previous years, and the same trend is likely during 2022-27. This dominance attributes to the growing sympathetic feeling, the advent of trends like pet humanization, & rising affordability among people to fulfill the need of 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 the 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.
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 2027. With an escalating number of pet-ownership 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.
Besides, Brazil has a most diverse pet population, including dogs and cats, birds, & fish, among others, among small families, childless couples, & singles living in apartments. It, in turn, is instigating numerous prominent players to widen its product offering to cater to the burgeoning demands and drive the market through 2027.
On the other hand, Europe is anticipated to exemplify the fastest growth in the Global Pet Food Ingredients Market during the forecast period. This growth attributes to the growing pet adoption in the region entwined with the focus of pet owners on providing sustainable & safe pet food as a result of pet humanization.
In addition, improving the economic conditions of the people & their widening affordability is also demonstrating high expenditure on pet needs, hinting toward an upsurge in demand for pet food. The same aspect is further generating opportunities for the players to widen their offering & consumer base across different countries.
Nonetheless, Asia-Pacific shall emerge as an area of opportunity for the players 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.
Market Growth Restraint:
Stringent Mandates for Pet Food Manufacturers
Since pet food needs utmost safety in manufacturing, various associations and governments have imposed strict norms that the manufacturers must abide by, especially across western countries. The close monitoring of pet animal foods, from the ingredients to preparation and their sales & marketing, the rigidness in the commercialization might restrain prominent companies from investing in the industry & can challenge the fledged growth of the Global Pet Food Ingredients Market in the coming years. Moreover, consciousness & concerns over the presence of certain synthetic ingredients might also restrain consumers from buying pet food and hamper market growth in the future.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global Pet Food Ingredients Market is expected to record around 6.43% CAGR during 2022-27.
A. The rising pet ownership and the emerging trend of pet humanization are projected to be the key drivers of the Global Pet Food Ingredients Market through 2022-27. On the other hand, stringent norms imposed by governments & concerned authorities for pet food producers to use certified ingredients might act as a prominent growth restraint for the industry in the coming years.
A. Dogs would continue generating remunerative prospects for the key companies in the Global Pet Food Ingredients Market through 2027.
A. Asia-Pacific would create new avenues for the Pet Food Ingredients Market to witness notable growth in the years ahead.