Pet Food Ingredients Market Poised for Robust Growth, Forecasted to Expand at 7.1% CAGR from 2024-30

MarkNtel Advisors has released its latest report highlighting strong growth in The Global Pet Food Ingredients Market size was valued at around USD 32.12 billion in 2023 and is projected to grow at a CAGR of around 7.1% during the forecast period, i.e., 2024-30. 

Report Coverage

This report offers a comprehensive analysis of the Pet Food Ingredients Market, providing valuable insights across historical trends, current dynamics, and future forecasts.

• Base Year: 2023
• Forecast Years: 2024-30
• Historical Years: 2019-22

Pet Food Ingredients Market Overview

Most of the market expansion would be propelled by the mounting adoption of pets worldwide, especially among nuclear families, childless couples, singles in apartments, and others, as a companion and emotional support, demonstrating a high demand for pet food for the balanced health of the animals. Besides, with the growing trends of pet humanization & high emphasis on feeding nutritional food, consumers are augmenting the demand for an extensive range of pet foods, catering to the requirements of different animals with diverse needs.

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Pet Food Ingredients Market Segmentation Outlook

The Pet Food Ingredients is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

• By Pet
  • Dog
  • Cat
  • Fish
  • Others (Rabbit, Bird etc.)
• By Form
  • Wet
  • Dry
• By Ingredients
  • Cereals
    • Maize
    • Barley
    • Wheat
    • Oats
  • Meat & Meat Products
    • Animal Meat
    • Animal Part & Bone Meal
  • Fats
    • Animal Fat
    • Plant Fat
  • Additives
    • Vitamin & Minerals
    • Flavours
    • Antimicrobials
    • Others (Antioxidants, Preservatives, etc.)
  • By Region
    • North America
    • South America
    • Europe
    • Middle East & Africa
    • Asia-Pacific

Pet Food Ingredients Market Driver

Rising Pet Ownership Driving Market Growth – The Global Pet Food Ingredients Market is developing at a rapid pace because of increased pet ownership. Most families around the world have pets, augmenting demand for top-rate pet meals that satisfy the dietary requirements of the pets. Pet owners are increasingly choosing premium, herbal, and special pet food items with top-class ingredients because of their increased recognition of the fitness and well-being of their animals. Pet owners constantly search out products for their animals that can be similar to human dietary necessities and consist of ingredients like excessive protein meats, cereals, vegetables, and useful components that support overall wellness.  Such conduct of pet owners is paving the strong direction for the revenue growth of the Pet Food Ingredients Industry.

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Top Pet Food Ingredients Market Brands & Their Strategic Market Positioning

MarkNtel Advisors Research identifies Darling Ingredients Inc., Ingredion Incorporated, Omega Protein Corporation, Kemin Industries Inc., Chr. Hansen Holding A/S, Roquette Freres, Sariah A/S GMBH & Co.KG, The Scoular Company, Phileo by Leasaffre, LaBudde Group Inc., Linkone Ingredients Solution, 3D Corporate Solutions, Hydrite Chemicals, Green Source Organics, Vivitiva DOO, AFB International, Symrise AG, Zinpro Corporations, Kerry Group Plc., Foodsafe Technologies Others as key players shaping the market landscape.

Pet Food Ingredients Market News

• In September 2023: In Elven, France, Symrise AG established its pilot plant for dry pet food. The plant has lab research, a palatability performance assessing gadget, and an R&D unit to comprehend the dry pet food production process.
• In July 2023: Symrise AG modified the title of its brand of pet-feeding ingredients to "Nuvin." The company provides chicken, eggs, hydrolyzed protein, and other pet health solutions were intended to be strengthened by this.
• In June 2023: DSM established a state-of-the-art premix manufacturing facility in Tonganoxie, Kansas, to broaden its premix capabilities in North America. This new manufacturing facility is expected to begin operations in 2025 and is ideally located in the center of the United States, near the hub of the country's pet food manufacturing industry.
• In May 2022: All of Valley Proteins, Inc.'s shares were recently acquired by Darling Ingredients Inc. for a projected payment of around USD 1.1 billion. Valley Proteins has been in charge of 18 significant rendering and used cooking oil manufacturing facilities located in the mid-Atlantic, southeast, and southern regions of the United States. Serving the rendering and recycling industries, Valley Proteins employs 1,900 employees and has a fleet of 550 vehicles.

Key Questions Answered in the Report

• What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
• How the industry has been evolving, and which segments would dominate the market during the forecast period?
• What are the key opportunity areas that companies foresee in the coming years 2030?
• Who are the key players in the market, and what are their competitive strengths?
• What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?

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