The global pet
food ingredients market is anticipated to be worth USD 20,499.19 Mn by
the end of 2032 growing at a CAGR of 5.4% over the forecast period of
2022-2032.
This growth is
attributed to the current trend observed among consumers, especially the
younger generation on animal humanization and pet culture. This has resulted in
consumers being willing to pay premium prices on nutritional food for their
four-legged friends. This has subsequently helped in boosting the sales of pet
food ingredients globally.
Moreover, cultural
changes have influenced the rise in pet ownership are becoming increasingly
popular among customers particularly among millennials and generation Z to some
extent as they intend to depend on these pets for emotional support. As a
result, households with younger members have a larger inclination towards pet
ownership, making them an attractive demographic for the pet food industry.
Increasing consumer
awareness regarding organic pet food ingredients has grabbed the attention of
manufacturers and hence there is a shift of focus from artificial to natural
ingredients which have acted as one of the major forces impacting the global
market.
Key Takeaways from Market Study
- Under the segment by conventional nature
the pet food ingredients market is anticipated to hold a market share of
around 87.% in 2022
- The market is also segmented based on
ingredient type where protein-based pet food is anticipated to account for
19.7% of the overall ingredient type market in the year 2022.
- In the European market, Germany is
accounted for a significant share of 20.1% in 2022, which is also expected
to witness a lucrative growth rate of 2.9% during the forecast period.
- Growing consumer demand for nutritious
and healthy food for their pets is driving sales of pet food ingredients
across global markets.
- By product type, dry pet food
ingredients are anticipated to hold the highest market share of around
36.8% and wet food ingredients are inferred to hold a market share of
34.3% by 2032 end.
- Post COVID-19 the factories are now
operational at full-scale and there are no logistic constraints at the
same time. Moreover, import and export from the European market to the
globe is anticipated to increase in the next few years
“Manufacturers in
pet food ingredients market are currently focusing on organic market strategies
such as new product innovations and launches to attract new customers and
subsequently earn higher revenues globally” says a Future Market Insights
analyst.
Competitive Landscape
Top players in the
pet food ingredients are majorly investing in the research & development of
nutritious pet food ingredients along with enhancing the quality of their
products. These manufacturers are constantly updating their product lines with
new launches keeping in mind the requirements of a healthy diet for an animal.
- Chr. Hansen launched its science-based
probiotics for the pet segment. It introduced a new portfolio
of stable live probiotics for use in pet supplements and pet foods,
enhancing every pet’s life stage with good bacteria
- Cargill launched The Chompery™, a new
line of butcher-quality dog treats which are sourced in the US
Explore More Valuable Insights
Future Market
Insights, in its new report, offers an impartial analysis of the global pet
food ingredient market, presenting historical data (2017-2021) and estimation
statistics for the forecast period of 2022-2032.
Segmentation
Analysis Of Global Pet Food Ingredients Market
By Ingredient Type :
- Starches
- Maize/Corn
- Tapioca
- Potato
- Wheat
- Rice
- Whole Grains
- Fruits and Vegetables
- Seeds and Legumes
- Dietary Fibre
- Wheat
- Rice
- Bran
- Potato
- Legumes
- Oats
- Inulin
- Nuts and Chicory root
- Fruit Ingredients
- Apple
- Cranberry
- Blueberry
- Other Fruit Ingredients
- Protein
- Sugar
- Fructo-Oligosaccharides
- Mannan-oligosaccharide
- Sorbitol
- Propylene Glycol
- Glycerol
By Animal Type :
- Dogs
- Cats
By Nature :
- Organic Pet Food Ingredients
- Conventional Pet Food Ingredients
By Product Type :
- Wet Food
- Dry Food
- Treats and Chews
- Other Product Types (Frozen Food, Raw
Food, etc.)
Access Full Report: https://www.futuremarketinsights.com/reports/pet-food-ingredients-market