Pet Food Ingredients: an Emerging Market With Promising Growth Potential

The report “Pet Food Ingredients Market by Ingredient (Cereals, Meat & Meat Products, Vegetables, Fruits, Fats, and Additives), Source (Animal-based, Plant-based, and Synthetic), Pet (Dog, Cat, and Fish), Form (Dry and Liquid), and Region – Global Forecast to 2025″,The pet food ingredients market is estimated to be valued at USD 37.0 billion in 2019 and is projected to reach USD 54.3 billion by 2025, at a CAGR of 6.6% from 2019 to 2025. Factors such as rise in the disposable income of the middle-class population has led to an increase in the spending capacity on pets. Pets are treated as companions to the owners, and increasing health concerns of their pets have encouraged them to opt for premium pet food products.

The constituents of pet food products include carbohydrates, proteins, fats, and other essential micronutrients. These constituents are derived from ingredients such as grains, vegetables, fruits, chicken meal, lamb meal, vitamins, and minerals. Other additives are also accompanied, which are used to enhance the color, flavor, and texture of the product. Furthermore, the expansion of pet superstores has made premium and super-premium pet food easily accessible. One of the emerging trends in the pet food industry is the incorporation of insects, as they are an excellent source of proteins. Additionally, vegan and grain-free pet food products have been gaining popularity in the pet food industry. These trends are expected to increase the demand of premium pet food ingredients.

By pet, the dog food ingredient segment is projected to account for the largest share in the pet food market

The growing demand for premium dog food products from developed as well as developing regions is one of the driving factors for the significant share of the dog segment in the pet food ingredient market. Growing concerns about pet health and the rising cognizance about the benefits of commercially manufactured dog food have led to tremendous growth in this market, globally.

By ingredient, the meat & meat product segment accounted for the largest market size in the pet food ingredients market during the forecast period

Based on the ingredient, the market has been segmented into cereals, meat & meat products, vegetables, fruits, fats, and additives. The meat & meat products segment accounted for the largest share, followed by the cereals segment, in 2018. meat & meat products are obtained at a relatively lower cost, as the majority of these ingredients are byproducts of food products manufactured for human consumption. Thus, it serves as an economical solution for pet food manufacturers. Along with being cost-effective, meat & meat products enhance the palatability and acceptability of pet food. Within meat and meat products, meat meal and deboned meat are projected to grow high rates.

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North America dominated the pet food ingredients market in 2019, in terms of value and volume

North America accounted for the largest market share in 2019. The pet food ingredients market is consolidated in North America and dominated by several companies such as ADM, Cargill, Ingredion, SunOpta, DowDuPont, Darling Ingredients, and Kemin. In North American countries such as the US and Canada, the pet food ingredients market is driven by the expansion of production plants of leading companies and acquisitions to meet the rising demand from the pet food industry. These factors have fueled the growth of the pet food ingredients market in the North American region. According to the guideline of the Association of American Feed Control Officials (AAFCO), there are certain standards that the companies must adhere to in their list of ingredients used. Furthermore, with the increasing number of owners moving toward a health-conscious diet for the pets, the demand for oil extracted from fish and plant-based ingredients has increased. The US and the European region also witnesses a high demand for its organic pet food ingredients.

This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such ADM (US), DSM (Netherlands), Cargill (US), BASF (Germany), Ingredion Incorporated (US). Roquette Frères (France), SunOpta (Canada), Darling Ingredients (US), Omega Protein Corporation (US), DowDuPont (US), Kemin (US), InVivo (France), and John Pointon & Sons Ltd (UK).