The global pet food ingredients market, estimated at USD 34.2 billion in 2023, is projected to grow to USD 47.4 billion by 2028, reflecting a compound annual growth rate (CAGR) of 6.8% during the forecast period. This growth surge is fueled by advancements in pet nutrition research, leading to the development of specialty components tailored to specific nutritional needs. The market’s dynamism is further underscored by evolving pet ownership trends, where a rising number of individuals opt for pets and demand premium, personalized nutrition solutions.
Key players in the market include BASF SE (Germany), Darling Ingredients Inc (US), Cargill, Incorporated (US), Ingredion (US), DSM (Netherlands), Omega Protein Corporation (US), ADM (US), Kemin Industries, Inc (US), and Chr. Hansen Holding A/S (Denmark).
Dry ingredients are emerging as a significant driver of market growth, owing to their convenience, longer shelf life, and cost-effectiveness. These attributes make dry pet food a preferred choice among manufacturers and consumers alike, catering to diverse pet types and dietary requirements. The popularity of deboned meat, particularly deboned beef, underscores a growing preference for high-quality protein sources that address pet health and dietary sensitivities. Deboned meat’s digestibility and amino acid profile make it a favorable option for pets requiring optimal muscle development and overall health benefits.
The market also sees robust growth in cat food ingredients, driven by increasing cat ownership and the demand for specialized, high-quality nutrition. This trend reflects a broader shift towards pet humanization, where pet owners seek natural and nutrient-rich ingredients similar to those in human diets. The Asia Pacific region, experiencing the fastest growth in market value, is witnessing heightened demand for premium pet food ingredients driven by cultural shifts towards pet humanization and growing awareness of pet health and nutrition. This region’s preference for natural and sustainably sourced pet food aligns with global trends towards healthier pet food choices.
In 2022, pet food production in the Asia Pacific region increased by 1.65%, reaching 2.48 million tons, highlighting the region’s significant contribution to the global pet food ingredients market’s expansion.
In conclusion, the global pet food ingredients market is poised for substantial growth, driven by evolving consumer preferences, increased awareness of pet health, and the ongoing trend of treating pets as family members deserving of premium nutrition.
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