Market Size
Global Pet Food Ingredients Market reached USD 54.2 billion in 2022 and is expected to reach USD 85.1 billion by 2031 and grow with a CAGR of 5.8% during the forecast period 2024-2031. The increasing pet ownership and rising demand for good quality pet food products are boosting the demand for the pet food ingredients market.
The increasing adoption of pets globally, and pet humanization due to the work-from-home trend, which affected consumer perception regarding the pet’s nutritional needs, are driving the demand for the pet food ingredient market. The growing trend of pet humanization was witnessed as consumers could spend more time bonding with their pets. Pet owners seek the best food options to care for their pets better.
There is an increasing demand for pet foods that are free from harmful pesticides, artificial colours, preservatives, synthetic hormones, and others. Manufacturers are developing various brands with a wide range of organic and natural products to satisfy the market’s demand. The plant proteins, grain-free ingredients, and novel protein sources are in high demand for pet foods. For instance, Kroger sells vegetarian and high-protein pet diets that are all-natural.
Market Summary
| Metrics | Details |
| CAGR | 5.8% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Ingredient Type, Source Type, Pet, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other vital Insights. |
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Market Dynamics
Increasing Pet Adoption and Pet Care is Driving the Growth of the Global Pet Food Ingredients Market.
There is an increased number of pet adoption worldwide. For instance, the Pet Food Manufacturers Association estimates that since the epidemic commenced, 3.2 million families in the United Kingdom have added a pet, bringing the country's overall pet population to 34 million. The pet food ingredients industry is expanding due to increasing pet adoption.
The increasing adoption in developed regions is creating a way to introduce premium quality pet food products, which in turn is increasing the pet food ingredients market demand. According to the Health for Animals Association, over 500 million families in the United States, European Union and China alone have over half a billion dogs and cats. In addition, in the U.S., 70 % of households owned a pet as of 2021, compared to 68 percent in 2016.
Growing Pet Premiumization and Demand for Best Quality Pet Products Driving Market Growth.
There is an immense increase in pet ownership worldwide. With growing pet ownership, people take good care of pets’ specific needs and requirements. Pet owners are becoming more aware of their nutritional needs, as different nourishment is required for various breeds and types of pets. Besides carbohydrates, protein foods are essential in pet food. All these factors drive the demand for quality pet food, increasing the demand for better quality pet food ingredients.
Numerous pet food producers offer products with various variations created to meet the demand for several breeds and pets. Pet foods from meat meals, fish meals and poultry meals are rich in animal protein. The humanization of pets and the premiumization of pet care in developed and emerging countries are driving the market growth of pet food ingredients. In 2021, ORIJEN premium pet foods introduced ORIJEN premium wet dog food. It is prepared with high-quality protein.
Lack of Awareness Among Pet Owners Restraining the Pet Food Ingredients Market Growth.
Most pet owners try their best to meet all the requirements of their pets. Most pet owners are getting updated daily and working on improving their sources of food and other requirements of pets. On the other hand, a few people are unaware of the benefits of good quality pet food products. Others are still sticking to their traditional feeding methods and feeding them the regular diet missing out on better pet foods.
The lack of awareness among most people and their disbelieves is causing them to miss the benefits of better pet foods with good pet food ingredients. The pet ingredients vendors do not force to conduct clinical trials to prove whether their ingredients provide good nutrition or not. It largely depends on the pet supplement brands to ensure their products are safe and their marketing claims are honest. Thus, a lack of regulations may hamper the market’s growth.
Market Segment Analysis
The global pet food ingredients market is segmented based on ingredient type, source type, pet, and region.
In the Global Pet Food Ingredients Market, Meat & Meat Products Segment Holds the Largest Market Share.
The global pet food ingredients market has been segmented by ingredient type into meat & meat products, vegetables, fruits, cereals, fats & oils, additives, and others. The meat & meat products segment held the largest pet food ingredients market share of 30.8% in 2022 in the pet food ingredient market analysis report. The required pet nutrition fulfilment by meat & meat products increases the segment’s growth.
The large market share of the meat & meat products segment is attributed to their rich sources of proteins, fatty acids, B group vitamins, and iron, which are the essential nutrients required for the growth of pets. Also, meat products are cost-effective because these are mostly the by-products of food products manufactured for human consumption, plus the meat & meat products also enhance pet food's acceptability and palatability.
Market Geographical Share
The North America Held the Largest Share of the Pet Food Ingredients Market.
The global pet food ingredients market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The North American pet food ingredient market held the largest market share of 38.6% in 2022 in the pet food ingredient market analysis. The increasing pet population is estimated to increase the demand for global pet food ingredient market.
The rising pet adoption and high pet care costs are expected to increase the pet food ingredients market demand in this region. According to the 2021-2022 National Pet Owners Survey conducted by the American Pet Products Association, 70% of U.S. households, or about 90.5 million families, own a pet. The increasing demand for best quality pet food, emerging new product launches with organic and nutraceutical ingredients is rising the market demand in this region.
Market Major Key Players
The major global players in the market include Archer Daniels Midland Company, Koninklijke DSM N.V., J.M Smucker, BASF SE, Ingredion Incorporated, Roquette Freres, SunOpta, Darling Ingredients Inc., Cargill Inc., and DowDuPont Inc.
COVID-19 Impact on Market
Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
The unprecedented COVID-19 pandemic in 2020 profoundly affected the pet food industry. Covid-19 has considerably impacted the global food supply chain phases involving pet food ingredients production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments.
Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.
The COVID-19 pandemic issue has had an impact on the pet food industries as well. The COVID-19 pandemic is upending life, and the food sector is seeing increased trends like pet food ingredients. The pet food businesses are launching innovative programs, including pet food ingredients, which are readily available and straightforward to use.
Key Developments
- In May 2023, French bugs producer Ynsect unveils its new brand Spryng for the pet food market, featuring premium ingredients with a low environmental impact, at the international pet food trade show Zoomark International in Bologna, Italy.
- In April 2023, Protix, a leading company in insect-based ingredients for healthy and sustainable pet food, animal feed and organic fertiliser, launched a new fresh insect meat, PureeX.
- In July 2022, Symrise, an ingredient supplier company, announced the acquisition of Wing Pet Food, one of the leading companies in China in Pet Food palatability enhancers and suppliers of pet food ingredients. With this acquisition, the company’s market position is expected to strengthen pet food palatability and extend Symrise’s presence in APAC.
- In October 2021, Global Food and Ingredients Inc., a fast-growing Canadian plant-based farm-to-fork food and ingredients company, acquired a cutting-edge plant-based pet food ingredient production facility in Bowden, Alberta.
Why Purchase the Report?
- To visualize the global pet food ingredients market segmentation based on ingredient type, source type, pet, and region and understand key commercial assets and players.
- Identify commercial opportunities in the market by analyzing trends and co-development.
- Excel data sheet with numerous data points of pet food ingredient market-level with all segments.
- The PDF report includes a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
- Product mapping is available as Excel consists of key products of all the major market players.
The Global Pet Food Ingredient Market report would provide approximately 61 tables, 60 figures and 165 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
