Brisbane, Jan. 24, 2023 (GLOBE NEWSWIRE) -- "Pet Food Flavors and Ingredients Market" is the title of a new report from Data Bridge Market Research. Key growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and competitive environment are all dissected in detail in the research. To uncover general market conditions and tendencies, Pet Food Flavors and Ingredients market research report acts as a perfect source. The report helps in developing a successful marketing strategy for the business. This market research report is a proven source of information that offers a telescopic view of the current market trends, situations, opportunities, and status. This industry report has strategically analyzed market research analysis and perceptive business insights into the relevant markets of clients. In the large-scale Pet Food Flavors and Ingredients market report, a thorough SWOT analysis & investment analysis is provided which forecasts imminent opportunities for the market players.
Data Bridge Market Research analyzes that the global pet food flavors and ingredients market is expected to reach the value of USD 83,973.14 million by 2030, at a CAGR of 10.8% during the forecast period. Product type accounts for the largest type segment in the market due to an increase in pet adoption and the rising high quality of pet foods for pets globally. This market report also covers pricing analysis, patent analysis, and technological advancements in depth.
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Pet food is special food for domestic animals or food designed to meet their nutritional needs. Pet food is a plant or animal product, such as meat, that is used to feed pets. Fruits and vegetables, animal products, grains and oilseeds, vitamins, and minerals are all included in pet food. Pet food ingredients are high in vitamins, fiber, protein, carbohydrates, and calcium. Grains and vegetables are usually used especially for dog food. Each component is crucial to enrich the animal's body. The protein content of meat is generally considered high, and it also adds flavor to food. Many ingredients, such as meat, poultry, and grains, are believed to be safe and do not require premarket approval. Omega-3 and omega-6 fatty acids are also produced, which are essential for animal metabolism and digestion. Pet food manufacturers use different ingredients to balance pet nutrition. In addition to acting as preservatives, conditioners, emulsifiers, stabilizers, and color or flavor substitutes, they are also used in pet food.
The cost of owning pets and purchasing pet food has increased significantly in recent years, which is a major driver of the Global pet food flavors and ingredients market. As pet owners spend more money on different types of pet food, the global pet food market has also grown with the increase in the number of pets. Some of the major drivers of the market are the growing adoption of dogs and cats and the growing emphasis on improving productivity and health. Due to affordability and availability, the safest pet foods are currently made with synthetic substances. In addition, overall demand has been boosted by a marked shift in consumer demand for grain-free and vegan pet foods. The industry is expected to continue to grow as pet food is readily available on multiple platforms, including retail stores, supermarkets, and online stores.
Market intelligence platform will help you understand:
- Identify emerging market trends & dynamics
- Market intelligence with quality and accuracy
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- Explore competitive strategy & market share
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Data Bridge Market Research employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives.
The Pet Food Flavors and Ingredients Market is Dominated by Firms Such as
- Kerry Group plc,
- Cargill, Incorporated,
- ADM,
- BASF SE,
- Wysong,
- Glanbia Plc,
- Balchem Inc.,
- Ingredion,
- The Scoular Company,
- Roquette Frères,
- The Peterson Company,
- Omega Protein Corporation,
- International Flavors & Fragrances Inc.,
- DSM,
- Symrise,
- Kemin Industries, Inc. and its group of companies,
- Chr. Hansen Holding A/S, Barentz, and
- Lallemand
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Recent Developments
- In January 2022, Kerry Group Plc, the world's leading taste and nutrition company, officially opened a new 21,500-square-foot state-of-the-art facility at its Jeddah operation in the Kingdom of Saudi Arabia. The company has invested over EUR 80 million in the region over the past four years and this new facility, which is Kerry's largest in the Middle East, North Africa and Turkey (MENAT) region, is one of the most modern and efficient in the world and will produce great tasting, nutritious and sustainable food ingredients which will be distributed across the Middle East. This has helped the company to grow.
- In November 2022, ADM unveiled its third annual outlook on the Global consumer trends that will shape the food, beverage and animal nutrition industries and drive market growth in the years ahead. Dissecting the intersection of health and well-being, sustainability and food security, ADM has identified eight spaces that detail consumers' evolving behaviors, attitudes, and aspirations. The eight areas serve as anchor points to inspire innovation, ushering in a new wave of products and services for 2023. This has helped the company to grow its product portfolio.
Opportunities for Key Players:
- Increasing demand for cannabidiol (CBD) pet food
A safe and well-processed cannabinoid derived from hemp, CBD pet supplements support pet health by working with their endocannabinoid systems. Some of the main reasons many pet owners turn to CBD pet food are that it supports healthy joints, helps promote cardiovascular function, and prevents the spread of heartworms. In 2020, U.S. pet sales were nearly USD 800 million, and consumers are willing to pay more for pet health services. CBD pet supplements offer a number of claims, including wheat, corn, and soy free, which means they are all-natural and contribute to market growth.
Moreover, growing consumer awareness of nutritional advantages associated with hemp derivatives and increasing production of industrial hemp have directed the growth of the market for hemp derivatives. CBD foods are expected to last longer than traditional pet foods.
Thus, increasing demand for cannabidiol pet food is expected to act as an opportunity for market growth
Key Market Segments Covered in Pet Food Flavors and Ingredients Industry Research
BY PRODUCT TYPE
- Flavors and palatability enhancer
- Mold inhibitors
- Antimicrobials
- Pellet binder
- Enzymes
- Feed acidifiers
- Probiotics
- Vitamins
- Nitrogen
- Phytogenic
- Carotenoids
- Trace minerals
- Antioxidants
- Mycotoxin binders
- Cocolorants
- Preservatives
BY PET FOOD TYPE
- Dog food
- Cat food
- Aqua pet food
- Birds food
BY SOURCE
- Animal based
- Yeast
BY FORM
- Dry
- Liquid
BY FUNCTIONALITY
- Preservation
- Processing
- Nutrition
- Others
BY CATEGORY
- Organic
- Conventional
BY DISTRIBUTION CHANNEL
- Direct
- Indirect
Browse Detailed Summary of Research Report @ https://www.databridgemarketresearch.com/reports/global-pet-food-flavors-and-ingredients-market
Key Industry Drivers:
- Surge in pet adoption rate with the growing popularity of premium pet foods across the globe
The global pet food flavor ingredients market is poised to show strong growth due to increased adoption of pets, rising expenditure on pet care, increasing demand for insect-based pet food, and a booming pet food market. The pet industry has grown exponentially in recent years. According to the American Pet Products Association, about 85 million households have a pet, and pet ownership has increased from 56 percent to 68 percent over the past 30 years. The introduction of technology and online shopping has contributed to some of the changes in pet ownership. Due to the effects of COVID-19, many people have been forced to stay at home for long periods, either due to shelter-in-place orders or due to work-from-home advice. Soon after, the amount of time spent at home increased, and adoptions and fosters were registered at pet shelters. Since the outbreak of the COVID-19 pandemic, the number of pets around the world has increased significantly. Also, emerging pet food ingredients market trends, such as the increasing popularity of premium foods across the country, are driving the growth of the pet food flavors and ingredients market, and this trend is expected to continue during the forecast period.
Thus, the surge in pet adoption rate and the growing popularity of premium pet foods around the globe are expected to act as an opportunity for the market's growth.
- Increasing demand for customized pet foods from pet owners
Pet owners are adopting the mindset that personalization is right, not a privilege, and the ability for pet owners to have input in what they buy has impacted the pet food industry. Pet owners are now willing to pay more for customized pet food products that satisfy their pet's particular dietary needs. When generational differences among pet owners are considered, young pet owners are expected to pay more for customized treats/pet foods than older pet owners. This shows that the trend toward customization is expected to continue to grow as younger shoppers start their pet parenting journey and gain more buying power.
Pet Food Flavors and Ingredients Market Regional Analysis/Insights:
The countries covered in this Pet Food Flavors and Ingredients market report U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Switzerland, Netherlands, Belgium, Russia, Turkey, Denmark, Sweden, Poland, Norway, Finland and Rest of Europe, Japan, China, South Korea, India, Australia, New Zealand, Hong Kong, Taiwan, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific, South Africa, UAE., Saudi Arabia, Egypt, Oman, Qatar, Bahrain, Kuwait, Rest of the Middle East and Africa, Brazil, Argentina, and Rest of South America.
- In 2023, Europe is expected to dominate the global pet food flavors and ingredients market due to the presence of key market players in the largest consumer market with high GDP. The U.S is expected to grow due to its latest advanced food technology and inventions in pet food flavors and ingredients.
U.K. dominates the Europe region due to the mass production of pet food flavors and ingredients and increasing demand from emerging markets, and expansion of pet food industries. China dominates the Global region due to a rapid rise in pet owners and health awareness of pets.
The investment made in the study would provide you access to information such as:
- Pet Food Flavors and Ingredients Industry [Global – Broken-down into regions]
- Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
- Country wise Market Size Split [of important countries with major market share]
- Market Share and Revenue/Sales by leading players
- Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc.
- Market Size
- Market Size by application/industry verticals
- Market Projections/Forecast
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Pet Food Flavors and Ingredients Market: Regulations
- Market Overview
- Global Pet Food Flavors And Ingredients Market, By Product Type
- Global Pet Food Flavors And Ingredients Market, By Pet Food Type
- Global Pet Food Flavors And Ingredients Market, By Source
- Global Pet Food Flavors And Ingredients Market, By Form
- Global Pet Food Flavors And Ingredients Market, By Functionality
- Global Pet Food Flavors And Ingredients Market, By Category
- Global Pet Food Flavors And Ingredients Market, By Distribution Channel
- Global Pet Food Flavors and Ingredients Market, By Region
- Global Pet Food Flavors and Ingredients Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
Get the Full Table of Contents @ https://www.databridgemarketresearch.com/toc/?dbmr=global-pet-food-flavors-and-ingredients-market
Explore More Reports:
- Europe Pet Food Flavors and Ingredients Market, By Product Type (Flavors and Palatability Enhancer, Mold Inhibitors, Antimicrobials, Pellet Binder, Enzymes, Amino Acid, Feed Acidifiers, Probiotics, Vitamins, Nitrogen, Phytogenic, Carotenoids, Trace Minerals, Antioxidants, Mycotoxin Binders, Cocolorants, Preservatives, and others), Pet Food Type (Dog Food, Cat Food, Aqua Pets Food, Birds Food, and Others), Source (Animal Based, Plant Based, Yeast, and Others), Form (Dry and Liquid), Functionality (Preservation, Processing, Nutrition, and Others), Category (Organic and Conventional), Distribution Channel (Direct and Indirect) https://www.databridgemarketresearch.com/reports/europe-pet-food-flavors-and-ingredients-market
- Asia-Pacific Pet Food Flavors and Ingredients Market, By Product Type (Flavors and Palatability Enhancer, Mold Inhibitors, Antimicrobials, Pellet Binder, Enzymes, Amino Acid, Feed Acidifiers, Probiotics, Vitamins, Nitrogen, Phytogenic, Carotenoids, Trace Minerals, Antioxidants, Mycotoxin Binders, Cocolorants, Preservatives, and others), Pet Food Type (Dog Food, Cat Food, Aqua Pets Food, Birds Food, and Others), Source (Animal Based, Plant Based, Yeast, and Others), Form (Dry and Liquid), Functionality (Preservation, Processing, Nutrition, and Others), Category (Organic and Conventional), Distribution Channel (Direct and Indirect) https://www.databridgemarketresearch.com/reports/asia-pacific-pet-food-flavors-and-ingredients-market
- Middle East and Africa Pet Food Flavors and Ingredients Market, By Product Type (Flavors and Palatability Enhancer, Mold Inhibitors, Antimicrobials, Pellet Binder, Enzymes, Amino Acid, Feed Acidifiers, Probiotics, Vitamins, Nitrogen, Phytogenic, Carotenoids, Trace Minerals, Antioxidants, Mycotoxin Binders, Cocolorants, Preservatives, and others), Pet Food Type (Dog Food, Cat Food, Aqua Pets Food, Birds Food, and Others), Source (Animal Based, Plant Based, Yeast, and Others), Form (Dry and Liquid), Functionality (Preservation, Processing, Nutrition, and Others), Category (Organic and Conventional), Distribution Channel (Direct and Indirect) https://www.databridgemarketresearch.com/reports/middle-east-and-africa-pet-food-flavors-and-ingredients-market
- North America Pet Food Flavors and Ingredients Market, By Product Type (Flavors and Palatability Enhancer, Mold Inhibitors, Antimicrobials, Pellet Binder, Enzymes, Amino Acid, Feed Acidifiers, Probiotics, Vitamins, Nitrogen, Phytogenic, Carotenoids, Trace Minerals, Antioxidants, Mycotoxin Binders, Cocolorants, Preservatives, and others), Pet Food Type (Dog Food, Cat Food, Aqua Pets Food, Birds Food, and Others), Source (Animal Based, Plant Based, Yeast, and Others), Form (Dry and Liquid), Functionality (Preservation, Processing, Nutrition, and Others), Category (Organic and Conventional), Distribution Channel (Direct and Indirect) https://www.databridgemarketresearch.com/reports/north-america-pet-food-flavors-and-ingredients-market
- Pet Food Ingredients Market, By Source (Animal Derivatives, Plant Derivatives, Synthetic Derivatives), Ingredient (Meat & Meat Products, Cereals, Vegetables, Fats, Additives), Animal (Dog, Cat, Bird, Fish, Others), Form (Dry Pet Food, Wet Pet Food, Mixture),Country (U.S., Canada, Mexico, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Chile, Rest of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa) https://www.databridgemarketresearch.com/reports/global-pet-food-ingredients-market
- Animal based Pet Food Ingredients Market, By Form (Dry Pet Food, Wet Pet Food, Veterinary Diets, Treats and Snacks, and Other Products), Ingredient (Meat and Meat Products, Fats, Additives), Pet (Dog, Cat, Fish, Others), Type (Beef Proteins, Egg Proteins, Blended Proteins, Hydrolyzed Proteins, Pork Protein, Fish Protein, Poultry Protein, Ovine Proteins, Cervine Proteins, Other Animal Proteins), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of the Middle East and Africa) https://www.databridgemarketresearch.com/reports/global-animal-based-pet-food-ingredients-market
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