Pet Food Ingredients Market

Pet food ingredients Market Size & Share – Industry’s Projected Expansion

The Pet food ingredients market size is estimated at USD 34.2 billion in 2023 and is projected to reach USD 47.4 billion by 2028, at a CAGR of 6.8% from 2023 to 2028.

Factors Propelling the Pet Food Ingredients Market Growth

  • Increasing Pet Ownership: As more people welcome pets into their families, the demand for pet food ingredients rises proportionally. This trend is particularly prominent in urban areas and among the millennial population, who treat their pets as family members and are willing to spend more on their well-being.
  • Humanization of Pets: Pet owners are increasingly concerned about the health and nutrition of their pets, leading to a shift towards premium and natural pet food ingredients. Ingredients that mimic human-grade quality, such as organic meats, vegetables, and whole grains, are becoming more popular.
  • Health and Wellness Trends: Similar to the trends in human nutrition, there's a growing awareness of the importance of nutrition for overall health and well-being in pets. Ingredients that offer specific health benefits, such as probiotics for digestive health or omega-3 fatty acids for a shiny coat, are in high demand.
  • Premiumization and Customization: Pet owners are willing to pay more for specialized diets tailored to their pets' specific needs, such as breed, age, size, or health conditions. This has led to the emergence of premium and customized pet food products, driving the demand for high-quality ingredients.
  • E-commerce and Convenience: The rise of e-commerce platforms has made it easier for pet owners to access a wide variety of pet food ingredients and products, including specialty and niche items. This convenience factor has contributed to the growth of the market, especially among busy urban consumers.

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Pet Food Ingredients Market Share - Global Industry Landscape

Some of the leading companies in the global pet food ingredients industry are part of the global market characterized by the presence of several key players competing for market share. Some of the leading companies in the pet food ingredients market include:

  • BASF SE (Germany)
  • Darling Ingredients Inc (US)
  • Cargill, Incorporated (US)
  • Ingredion (US)
  • DSM (Netherlands)
  • ADM (US)

BASF SE (Germany)

BASF SE, headquartered in Germany, plays a significant role in the pet food ingredients market as a leading supplier of various ingredients and additives used in pet food formulations. BASF offers a wide range of ingredients tailored to meet the nutritional needs, taste preferences, and health requirements of different types of pets. These ingredients may include vitamins, minerals, amino acids, antioxidants, and omega-3 fatty acids, among others.

BASF leverages its expertise in research and development to innovate and introduce new ingredients that enhance the quality, safety, and nutritional profile of pet foods. The company also emphasizes sustainability and animal welfare in its ingredient sourcing and production processes, aligning with the preferences of modern pet owners who prioritize ethical and environmentally friendly products.

Furthermore, BASF provides technical support and solutions to pet food manufacturers, helping them develop high-quality and nutritionally balanced pet food products. By offering reliable and high-performance ingredients, BASF contributes to the overall growth and advancement of the pet food industry, catering to the evolving needs and preferences of pet owners worldwide.

Darling Ingredients Inc (US)

Darling Ingredients Inc., based in the United States, holds a significant position in the pet food ingredients market as a leading supplier of sustainable and high-quality ingredients derived from natural and renewable sources. The company specializes in rendering and repurposing animal by-products, such as meat and poultry by-products, fats, and proteins, into nutritious ingredients for pet food formulations. Darling Ingredients focuses on utilizing innovative processes to transform animal co-products into value-added ingredients that meet the nutritional requirements of pets while promoting environmental sustainability.

Cargill, Incorporated (US)

Cargill, Incorporated, a global leader in supply chain management, holds a pivotal position in the pet food ingredients market. Renowned for its comprehensive range of services spanning food, agriculture, finance, and industrial products, the company is deeply entrenched in the pet food industry. Collaborating closely with farmers, Cargill oversees the origination, sourcing, transportation, and processing of commodities, transforming them into branded food, feed, fuel, and bioindustrials. Within the pet food ingredients sector, Cargill offers a diverse array of products that contribute significantly to the global pet food market's expansion.

DSM (Netherlands)

DSM, headquartered in the Netherlands, plays a crucial role in the pet food ingredients market as a leading supplier of innovative and sustainable nutritional solutions. Leveraging its expertise in nutrition science, DSM offers a wide range of vitamins, minerals, enzymes, and other specialty ingredients tailored to meet the specific nutritional needs of pets. The company's commitment to research and development drives the creation of novel ingredients that enhance the health, vitality, and well-being of companion animals. DSM collaborates closely with pet food manufacturers to develop customized solutions and formulations that support the production of high-quality and nutritionally balanced pet foods. With a focus on quality, safety, and sustainability, DSM contributes to the advancement of the pet food industry, providing solutions that meet the evolving demands of pet owners worldwide.

ADM (US)

ADM (Archer Daniels Midland Company), based in the United States, plays a pivotal role in the pet food ingredients market as a leading provider of a diverse range of ingredients and solutions. Leveraging its extensive expertise in agricultural processing and food science, ADM supplies essential ingredients such as grains, proteins, fats, and specialty ingredients for pet food formulations. The company's commitment to quality, innovation, and sustainability ensures that pet food manufacturers have access to high-quality ingredients that meet the nutritional needs and preferences of pets and their owners. ADM's comprehensive portfolio and global presence make it a key player in driving the growth and advancement of the pet food industry, catering to the evolving demands of the market.

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 2028

 

Pet Food Ingredients Market Size,  Share & Growth Report
Report Code
AGI 6240
RI Published ON
5/3/2024
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