Pet Food Ingredient Market

Koninklijke DSM N.V. (Netherlands) and Archer Daniels Midland Company (US) are the Key Players in the Pet Food Ingredient Market

The pet food ingredients market is estimated at USD 34.96 Billion in 2018, and is projected to reach a value of USD 45.44 Billion by 2023, growing at a CAGR of 5.4%. The key players profiled have a strong presence in the global pet food ingredients market; they include Archer Daniels Midland Company (US), Koninklijke DSM N.V. (Netherlands), Cargill, Incorporated (US), BASF SE (Germany), Ingredion Incorporated (US).

The key market players adopted various growth strategies such as expansion & investments, new product launches, acquisitions, agreements, collaborations, partnerships, and joint ventures, in order to cater to the increasing demand for pet food ingredients. The companies in this market focus on increasing their product portfolios through strategic acquisitions and on expanding their manufacturing capacities.

The expansion of the operations of the company and acquisitions of companies to expand their geographical reach were also the key strategies adopted by the players in the pet food ingredients market. The companies mainly focused on expansions to sustain and grow in the market; mergers & acquisitions were the second-most adopted strategy. These strategies helped the players diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios. For instance, in 2017, the companies adopted various strategies such as new product launches, expansions & investments, mergers & acquisitions, joint ventures, partnerships, and agreements to retain the market share and meet the consumer demand, globally.

Koninklijke DSM N.V. (Netherlands) has a robust product offering in the pet food ingredient market and occupies a major share due to its large distribution network, strong geographical presence, and high brand value. The company operates through four business segments—nutrition, performance materials, innovation center, and corporate activities. It offers its pet food ingredients through its broad product line of the nutritional products division under its Animal Nutrition & Health business sub-segment. The nutrition division of the company comprises DSM Food Specialties and DSM Nutritional Products; DSM Nutritional Products offers pet food ingredients for the feed industry. It has been consistent in strengthening its position in the pet food ingredients market by engaging in the expansion of its production capabilities. For instance, in March 2015, DSM increased its production capacity of Rovimix B2 80 SD. Through this expansion, the company was able to meet the growing demand for vitamins in the animal feed industry.

Archer Daniels Midland Company (US) is a well-established manufacturer of food & beverage ingredients, animal feed & feed ingredients, biofuels, and naturally derived alternatives to industrial chemicals. The company is engaged in manufacturing products for diversified markets, which helps it minimize business risks and dependency on any particular business. The company’s key business segments are oilseed processing, corn processing, agricultural services, WILD flavors & specialty ingredients, and others. The company offers a robust range of pet food ingredients through its ADM Animal Nutrition division. Wilmar International has a strong foothold in the emerging economies in Southeast Asia, which has strengthened the company’s global position. The company focuses on its geographic growth through expansions. For instance, in March 2017, ADM expanded its animal nutrition business in China with the construction of a new feed premix facility in Xiangtan, in Hunan Province, central China. The company also increased its production capabilities by adding aquaculture feed production lines at its existing Nanjing complex in Jiangsu Province, eastern China. The Xiangtan plant will be involved in the production of premix, concentrate, animal-complete, and fish-complete feeds.

Related Reports:

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

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Report Code
AGI 6240
RI Published ON
5/3/2018
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