Market Leaders : Base SE and Darling Ingredients Inc. are focusing on Expansions and Acquisitions to Consolidated their Position in Pet Food Ingredients Market
The global pet food ingredients market size is valued at USD 32.2 billion in 2022 and is projected to reach USD 44.5 billion by 2027, recording a CAGR of 6.7%, in terms of value during the forecast period. The pet food ingredients cater to a large number of pet animals such as dogs, cats, fish and other animals including birds, rabbits and horses and their demand have been surging in recent years owing to the rising focus and increased spending towards health and nutrition of pet animals.
Key players in this market include BASF SE (Germany), Darling Ingredients Inc. (US), Cargill (US), Ingredion (US), DSM (Netherlands), Omega Protein Corporation (US), ADM (US), Kemin Industries, Inc. (US), Chr. Hansen Holding A/S (Denmark), Roquette Frères (France) among others.
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The key players are focusing heavily on improving their market shares, while their newer start-ups are being established rapidly in the market. The pet food ingredients market can be classified as a competitive market with the top five players accounting for a market share of 35-40%, at present at the global level. There are numerous local players in the form of existing and emerging companies in several countries, particularly in Asian markets.
BASF SE (Germany) is one of the largest multinational companies operating in the pet food ingredients market, based in Germany. The company is a market leader in pet food ingredients industry which has a host of product offerings that cater to a range of pet animals such as dogs, cats and fish. The company caters to the pet food ingredients market by developing health-focused additives which are targeted towards enriching the nutritional content of the pet foods. The company has been continuously engaging in expanding their production capacities and enhancing their R&D capabilities to consolidate their position in the industry and cater to the rising demand. The company’s strong distribution and supply chain network across all the major geographical regions, provides the company a key competitive advantage.
Darling Ingredients Inc. (US) is a multinational company and a market leader in pet food ingredients and is among the key players in the industry. The company has a strong geographical presence across North America, Europe, Asia Pacific and South America with a supreme distribution network which is supported by 200 processing facilities located across all the regions. The company caters specifically to the pet food ingredients industry with its products that are targeted towards supporting the immune system and supporting the growth and development of pet animals. The company has been focusing on acquisitions to enhance their R&D capabilities and strengthen their product portfolios in recent years.
Related Reports:
Pet Food Ingredients Market by Ingredient (Meat & Meat Products, Cereals, Vegetables & Fruits, Fats, and Additives), Source (Animal-based, Plant Derivatives, and Synthetic), Pet (Dogs, Cats, and Fish), Form and Region - Global Forecast to 2027
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