The global pet food ingredients market accounted for a value of USD 37.9 billion in 2019 and is projected to register growth at a CAGR of 6.1% during forecast period.
COVID-19 has impacted pet food ingredients market but the impact is not significant on this industry. The supply chain and operation has not been much affected due to spread of corona virus. Many manufacturing plants are operating during lockdown period. The market is likely to foresee growth in the latter half of the forecast period.
For more details, visit: Global Pet Food Ingredients Market By Source (Animal-Based, Synthetic, Others), By Pet (Dog, Cat, Others), By Form (Dry and Wet), By Ingredients (Amino Acids, Gut Health Ingredients, Others), By Region, Forecast & Opportunities to 2026
The pet population is increasing around the world and this increases the consumption of pet food in the market. The pet owners are spending more on their pets and adopting high quality of pet food. There is a variety of pet food products available and people are spending on buying different kinds of food for their pet and this drives growth in pet food ingredients market during forecast period.
On the basis of ingredients, the pet food ingredients market is segmented into specialty proteins, amino acids, gut health ingredients, mold inhibitors, phosphates, vitamins, acidifiers, minerals, enzymes, mycotoxin detoxifiers and others. The amino acids segment is estimated to register growth at highest CAGR of 4.4% during forecast period. It has many health benefits such as it improves immune systems of pets and improves metabolism etc. it is considered as an essential additive in pet food and it is used for growth purposes. Amino acid can also be used in organic pet food as it offers required nutrition. Amino acids deficiency leads to tissue pathologies. It is very important ingredients for animals. This drives growth in amino acid market during forecast period.
On the basis of source, the pet food ingredients market is segmented into animal-based, plant-based and synthetic. The animal-based segment is estimated to dominate the market during forecast period. Major animal-based ingredients include meat and meat by products as it provides essential vitamins, protein, fatty acids and iron. Animal-based products increases palatability and improve digestion of pets. Fishbone are also widely adopted as pet food ingredients as it provides phosphorus and calcium. The utilization of animal-based food ingredients is increasing and this drives growth in animal-based segment during forecast period.
On the basis of pet, the pet food ingredients market is segmented into dog, cat, fish and others. The dog segment is estimated to be fastest growing market during forecast period. Dogs are most widely adopted by people around the globe. The major key players are focusing on providing pet food for dogs with nutritive values. Various countries such as US, India, China and UK have highest pet dog registration. US is estimated to witness more than 73 million dog pet registrations, China is estimated to account for 110 million and India is estimated to have 32 million pets dogs. The increase in dog pet ownership around the world is likely to drive growth in dog pet segment during forecast period.
South America region is estimated to register highest growth in pet food ingredients market during forecast period. In South America region, Argentina and Brazil are leading markets for pet food ingredients during forecast period. This region gives growth opportunities to various market players of this industry as the market is at early stage of development. Brazil is estimated to account for largest market share during forecast period. The increase in demand and adoption for pet food ingredients drives growth in this region during forecast period.
The key market players in pet food ingredients market are BASF SE, Bluestar Adisseo Company, Darling Ingredients, Ingredion Incorporated, Omega Protein Corporation, Archer Daniels midland Company, Cargill, Dowdupont, CHR. Hansen, Roquette Freres, Sunopta, Lallemand, Lesaffre Group, Lauridsen Group, Saria Group, Nutreco N.V., The Scoular Company, Kemin Industries and John Pointon & Sons.
- What are the expected industry trends over the next three to five years?
- Which of the pet food ingredients source is likely to lead by 2025?
- Which of the form segments is expected to have the maximum potential to during the forecast period?
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- What are different organic and inorganic strategies implemented by companies to gain increased market share?