Pet Food Ingredient Market Size, Share & Growth Report 2031

Report Description

The global pet food ingredient market size was USD 32.3 Bn in 2022 and is projected to reach USD 44.6 Bn by 2031, expanding at a CAGR of 6.8% during 2023–2031. Rising awareness regarding pet health and well-being is anticipated to fuel the market in the coming years.

Pet food ingredients include additives such as vitamins and minerals and raw materials including poultry, beef and fish, cereals, and vegetables, were combined for a balanced diet. Ingredients offer beneficial effects on the pet’s health. For instance, phosphate is added to pet food, as it aids in a pet’s healthy nerve impulse transmission, muscle contraction, and skeletal formation. Ingredients are a rich supply of fiber, protein, vitamins, carbs, and calcium.

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Meat is an ideal source of protein and it enhances the flavor of the dish. Ingredients serve as conditioning agents, emulsifiers, stabilizers, preservative, and replacements for flavor or color. Cereals, poultry, and meat do not require pre-market approval and considered safe. Additionally, Omega 3 and Omega 6 fatty acids are added as it is essential for animal metabolism and digestion.

The research report finds that the COVID-19 pandemic has a positive impact on the pet food ingredients market. Numerous people adopted pets during the pandemic period, thus fueling the market. People stocked up on food in expectancy of future shortages during the first lockdown. Furthermore, the work-from-home and pet humanization trend results in taking care of the specific needs of pets. Consumers became more aware of their pet’s nutritional needs.

Pet Food Ingredient Market Dynamics

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Major Drivers

Increasing individual spending on high quality and premium food and pet humanization are expected to drive the market. In the US, around USD 8.2 billion was spent on organic food products in 2016. As per the American Pet Products Association (APPA), people spend most of their earnings on pet food. According to an article published in the UK on dog food, pet owners are adopting premium and organic products, even if the volume of food sold declined, its value increased.

Rising trend of pet parenting propels the adoption of high-quality food, thus boosting the market. Pet owners demand clean, protein-rich, and organic food products due to rising obesity among pets. Furthermore, the sale of organic food products has increased, as there is a high interest in natural, chews, and locally-sourced treats.

Existing Restraints

High cost and limited availability of ingredients are likely to restraint the market expansion in the coming years. Climate change hampers the supply of raw materials; thus, pet food prices increase globally. Less availability of various pet food ingredients and vitamins impedes the market. In 2013, BASF SE increased the cost of its feed-grade vitamin E & A by 15% and 10%, respectively, and again by 20% for vitamin A in 2016. Thereby, hampering the market.

Emerging Opportunities

Major players are continuously monitoring their product offerings and investing in R&D activities to increase product demand. Consumers are continuously demanding pet food that enhances their pet’s growth and adds value to their diet. Thus, the demand for grain-free extruded and natural pet food products is anticipated to create lucrative opportunities for market players.

Scope of the Pet Food Ingredient Market Report

The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Pet Food Ingredient Market Segment Insights

On the basis of ingredients type, the pet food ingredient market is segmented into vitamins, acidifiers, antioxidants, mold inhibitors, specialty protein, amino acid, and phosphates. The amino acid segment is projected to expand at a considerable CAGR during the forecast period, as it offers great heart health, good vision, and cardiac & immune system function. Amino acid prevents infection and slowed down the growth of pathogen and bacteria among pets. The vitamins segment is anticipated to account for a major share of the market during the forecast period, owing to rising awareness regarding pet health-specific ingredients.

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Based on source, the market is divided into plant derivatives, animal-based, and synthetic. The animal-based segment is expected to hold a significant share of the market in the coming years. Meat and meat by-products are important sources of protein. Fish products are a good source of vitamin D and A and omega-3 fatty acids. These ingredients boost the cognitive performance of pets, improve the quality of their coat and skin, build their immune systems, and lower blood pressure. The plant derivatives segment accounts for a significant share of the market. Plant-based ingredients became viable options. Plant proteins are used for pet food including corn protein and wheat protein.

In terms of region, the global pet food ingredient market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the forecast period, due to the increasing pet population and rising demand for pet food in the region. The market in North America is anticipated to expand at a rapid pace during the forecast period, owing to increasing consumer awareness about pet health and pet humanization in the region.

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