Pet Food Ingredients Market

Pet Food Ingredients Market worth $45.4 billion by 2023

The report "Pet Food Ingredient 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 2023" The Pet Food Ingredients Market Is Projected To Account for a Value of USD 45.4 Billion By 2023 Increasing adoption of pets among individuals has encouraged retail outlets to accommodate their shelves with high-quality pet food. High demand for pet food in various countries has encouraged manufacturers to develop products that cater to the specific health requirements of various pets. As the demand for pet food continues to increase, manufacturers focus on utilizing ingredients such as plant and animal derivatives that offer high feed conversion ratio and improve digestion. According to MarketsandMarkets, the pet food ingredients market is projected to account for a value of USD 45.4 billion by 2023, recording a CAGR of 5.4%.

Browse 95 market data Tables and 47 Figures spread through 176 Pages and in-depth TOC on "Pet Food Ingredient 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 2023 "
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/global-pet-food-and-care-products-market-147.html

The Meat & Meat Products Segment To Dominate the Pet Food Ingredients Market During the Forecast Period

Acceptance of pet food products that include meat products such as beef, pork, and fish remain high as they cater to nutritional requirements of pets and improve the palatability. Retailers are banking on this trend and allocating their shelves to pet food products that include meat products. Increasing demand for meat meals and pet food that contain meat products is projected to contribute to the growth of the meat & meat products segment in the pet food ingredients market during the forecast period.

The Dog Segment Is Projected To Account for the Largest Market Share in the Pet Food Ingredients Market Throughout 2023 

With the increasing adoption of dogs as pets, the demand for dog food has increased across regions. The growing population of dogs has led to the increased adoption of pets. Individuals are increasingly becoming aware of the health benefits of commercially manufactured pet food, which has encouraged manufacturers to allocate their budget to the production of dog food. Due to these factors, the dog segment is projected to account for the largest market share during the forecast period.

North America To Be a Leading Region in the Pet Food Ingredients Market During the Forecast Period

As the adoption of pets remains high, leading players focus on expanding in various countries of North America. With the increasing consumption for nutrient-dense and protein-rich pet food in this region, manufacturers are focusing on opting for meat products as a key ingredient to produce a range of pet food products. High demand for pet food ingredients in this region is projected to contribute significantly to the growth of the market during the forecast period.

Leading players identified in the pet food ingredients market include Cargill, ADM, DSM, Ingredion, and BASF. Key players focus on adopting strategies such as expansions and new product developments to improve their brand presence and expand their customer base in various regions.

All in all, the pet food ingredients market is projected to record moderate growth during the forecast period. With the growing trend of offering meat meals and pet food products that include meat products, manufacturers focus on health-enriching products for different pets. These factors are projected to contribute to the growth of the market significantly during the forecast period.

Don’t miss out on business opportunities in Pet Food Ingredient Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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Report Code
AGI 6240
PR Published ON
5/8/2018
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