At a CAGR of 6.7% Pet Food Ingredients Market is Expected to Reach $44.5 Billion | MarketsandMarkets

Chicago, July 05, 2023 (GLOBE NEWSWIRE) -- The pet food ingredients market refers to the industry involved in producing and supplying various components used in the formulation and production of pet food. These ingredients are specifically designed to meet the nutritional needs of pets, such as dogs, cats, birds, and small animals. Pet food ingredients can be categorized into several groups, including proteins, carbohydrates, fats and oils, vitamins and minerals, additives, and flavor enhancers. Each category serves a specific purpose in providing balanced and complete nutrition for pets. Proteins are essential for pets as they contribute to muscle development and maintenance. Common protein sources in pet food include meat, poultry, fish, and plant-based alternatives like soy and pea protein. Carbohydrates, such as grains, vegetables, and fruits, provide energy and fiber for proper digestion.

Pet food ingredients market in terms of revenue was estimated to be worth $32.2 billion in 2022 and is poised to reach $44.5 billion by 2027, growing at a CAGR of 6.7% from 2022-2027 according to a latest report published by MarketsandMarkets™. The reasons that are driving the growth of the pet food ingredients market rising focus on the health and nutrition of pet animals and increased spending on health-focused pet food ingredients. Pet food ingredients enhance the nutritional profile and offers a range of health benefits in terms of supporting the immunity and gut health of pet animals, along with enhancing the palatability of the products, contributing to higher feed intake due to which they are in significant demand across the pet food industry.

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Pet Food Ingredients Market Scope:

Report Metric	Details
Market worth in 2022	USD 32.2 billion
Revenue estimate in 2027	USD 44.5 billion
Growth rate	CAGR of 6.7% from 2022-2027
Market size available for years	2019-2027
Base year for estimation	2021
Forecast period	2022-2027
Quantitative units	Value (USD Million) and Volume (Thousand Units)
Report Coverage & Deliverables	Revenue forecast, company ranking, driving factors, Competitive benchmarking, and analysis
Segments covered	Pet, Ingredient, Source
Regional Insight	Europe, North America, South America, Asia Pacific
Key Market Opportunities	Shift in focus toward natural and grain-free products
Key Market Drivers	Switch from mass products to organic pet food ingredients

Pet Food Ingredients Market major players covered in the report, such as:

• BASF SE (Germany)
• Darling Ingredients Inc. (US)
• Cargill (US)
• Ingredion (US)
• DSM (Netherlands)
• Omega Protein Corporation (US)
• ADM (US)
• Kemin Industries, Inc. (US)
• Chr. Hansen Holding A/S (Denmark)

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The research report categorizes the market into the following segments:

Pet Food Ingredients Market, By Ingredient

• Meat & meat products
• Deboned meat
• Meat meal
• By-product meal
• Animal digest

•            Cereals

• Corn & Cornmeal
• Wheat & Wheatmeal
• Barley
• Rice

•              Vegetables & fruits

• Fruits
• Potatoes
• Carrots
• Soy & Soymeal
• Pea

•              Fats

• Fish oil
• Tallow
• Lard
• Poultry fat
• Vegetable oil      

•              Additives

• Vitamins & minerals
• Enzymes
• Other additives                

Pet Food Ingredients Market, By Form

• Dry
• Wet

Pet Food Ingredients Market, By Source

• Animal-based
• Plant derivatives
• Synthetic

Pet Food Ingredients Market, By Pet

• Dogs
• Cats
• Fish
• Other pets

Pet Food Ingredients Market, By Region

• North America
• Europe
• Asia Pacific
• South America
• Rest of the World (RoW)

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The key stakeholders in the Pet Food Ingredients Market include:

• Pet Food Manufacturers: These are the companies that produce pet food products. They rely on pet food ingredients to formulate and manufacture their products. Pet food manufacturers work closely with ingredient suppliers to ensure the quality, safety, and nutritional value of their products.
• Ingredient Suppliers: These are companies that specialize in the production and supply of pet food ingredients. They provide a wide range of ingredients, including proteins, carbohydrates, fats and oils, vitamins and minerals, additives, and flavor enhancers. Ingredient suppliers work closely with pet food manufacturers to meet their specific ingredient requirements.
• Farmers and Agricultural Producers: Farmers and agricultural producers play a crucial role in the pet food ingredients market, particularly in the production of ingredients like grains, fruits, vegetables, and animal-based proteins. They cultivate and harvest these ingredients to supply the pet food industry with raw materials.
• Meat and Poultry Processors: These are companies involved in the processing and supply of meat and poultry products used as ingredients in pet food. They ensure the quality and safety of meat and poultry ingredients, including sourcing, processing, and handling.
• Fish and Seafood Industry: The fish and seafood industry provide a significant source of ingredients for pet food, especially fish-based proteins, and fish oils rich in omega-3 fatty acids. Fishermen, fish farmers, and seafood processors are key stakeholders in this sector.
• Regulatory Authorities: Government regulatory authorities are responsible for establishing and enforcing regulations and standards related to pet food ingredients. They ensure that ingredients used in pet food meet safety, quality, and labeling requirements. These authorities may include departments or agencies dedicated to food safety and animal health.
• Pet Owners: Pet owners are an essential stakeholder in the pet food ingredients market. They drive demand for pet food products and influence purchasing decisions. Pet owners are increasingly concerned about the quality and nutritional value of pet food, leading to a growing demand for high-quality and natural ingredients.
• Veterinary Professionals: Veterinarians and other pet healthcare professionals play a role in guiding pet owners on the selection of appropriate pet food products based on the specific nutritional needs of their pets. They may recommend certain ingredients or specialized diets for pets with specific health conditions.
• Research and Development Institutions: Academic institutions, research organizations, and laboratories contribute to the pet food ingredients market through research and development activities. They conduct studies on pet nutrition, ingredient efficacy, and innovation in ingredient sourcing and processing techniques.

These stakeholders work collaboratively to ensure the availability of safe, nutritious, and appealing pet food products that meet the needs and preferences of pets and their owners.

Pet Food Ingredients Market Frequently Asked Questions (FAQs):

Q1. How big is the pet food ingredients market?
Q2. What are the trends in the pet food industry ingredients?
Q3. What is the estimated growth rate (CAGR) of the global pet food ingredients market for the next five years?
Q4. What are the major revenue pockets in the pet food ingredients market currently?
Q5. Is pet food business profitable?
Q6. What are the ingredients in the pet food industry?

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This report provides insights on the following pointers:

• Growing Demand for Premium and Natural Ingredients: There is a significant increase in pet owners' preference for premium and natural pet food ingredients. Consumers are seeking products with high-quality protein sources, grain-free options, and ingredients sourced from sustainable and organic origins. This trend is driven by the rising awareness of pet health and nutrition, as well as the humanization of pets.
• Shift Towards Novel Protein Sources: The pet food ingredients market is witnessing a shift towards novel protein sources. Traditional protein sources like beef and chicken are being supplemented or replaced by alternative proteins such as fish, lamb, venison, duck, and even plant-based proteins like peas and lentils. This trend caters to pets with specific dietary needs, allergies, or sensitivities, as well as aligning with the preferences of pet owners.
• Focus on Limited Ingredient Diets: Limited ingredient diets (LIDs) are gaining popularity in the pet food industry. These diets feature a minimal number of carefully selected ingredients, avoiding common allergens or potential irritants. LIDs provide pet owners with options to manage their pets' dietary sensitivities and offer a simplified ingredient list for transparency and health considerations.
• Increasing Emphasis on Functional Ingredients: Functional ingredients in pet food have gained attention due to their potential health benefits. Ingredients like probiotics, prebiotics, antioxidants, and omega-3 fatty acids are being incorporated into pet food formulations to promote digestive health, immune support, joint health, and overall well-being. Pet owners are seeking products that go beyond basic nutrition to support their pets' specific health needs.
• Rising Focus on Transparency and Traceability: Pet owners are becoming more conscious of the sourcing and production processes behind pet food ingredients. They are seeking transparency and traceability throughout the supply chain, from ingredient origins to manufacturing practices. This demand for transparency extends to the use of sustainable and ethically sourced ingredients, as well as eco-friendly packaging options.
• Technological Advancements in Ingredient Processing: The pet food ingredients market is experiencing advancements in ingredient processing techniques. These advancements aim to improve ingredient functionality, enhance nutritional value, and optimize ingredient utilization. Techniques such as extrusion, freeze-drying, and novel ingredient processing methods are being employed to enhance the quality and performance of pet food ingredients.
• Impact of Regulatory Changes: Regulatory changes and evolving standards for pet food ingredients have an impact on the market. Regulatory authorities are implementing stricter regulations to ensure the safety and quality of pet food ingredients. This includes requirements for ingredient testing, labeling accuracy, and adherence to specific nutritional guidelines.

Other Reports in Agriculture Industry:

Probiotics in Animal Feed Market 

Feed Additives Market

Specialty Feed Additives Market

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analyses and profiling of additional market players (up to five)

Geographic Analysis

• Further breakdown of the Rest of the European pet food ingredient market into the Netherlands, the UK, Poland and other EU countries
• Further breakdown of the Rest of Asia Pacific pet food ingredient market into Indonesia, the Philippines, Vietnam, and South Korea
• Further breakdown of the Rest of the South American pet food ingredient market into Peru, Chile, and Venezuela

Research Insight: https://www.marketsandmarkets.com/ResearchInsight/global-pet-food-and-care-products-market.asp

Content Source: https://www.marketsandmarkets.com/PressReleases/global-pet-food-and-care-products.asp

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