The increasing awareness of ingredients used in pet food products has made pet owners more conscious while selecting food products for their pets. Pet owners are now realizing the health benefits of natural and organic food products for pets, thus the demand for organic and natural pet food products in the pet care ingredients market has increased.
Pet owners prefer food products that are free from artificial colors and preservatives, as well as healthy for their pets.
Taking advantage of the prevailing trend, companies in the pet care ingredients market are expanding their product offerings to include natural and organic products. For instance, Kroger Co. offers natural food products for pets with proteins and other healthy contents. Besides this, GMO (genetically organism free) food products are also available for pets in the pet care ingredients market.
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Drivers for Pet Care Ingredients Market
Rapid urbanization has increased the product availabilities in the retail stores in the emerging economies which is one of the key drivers behind the growth of the pet care ingredients market.
Other factors like changing perceptions regarding pets, improving lifestyles, nuclear families, and rising number of millennials are all contributing significantly to the growth of the pet care market in emerging economies. Dogs continue to remain the most popular pets in emerging economies, followed by cats, fish, and other pets.
Trends for Pet Care Ingredients Market
Companies in pet care ingredients market are innovating their products by using 100% natural ingredients in their pet food offerings. The increasing surge in demand for natural pet food in North America and Europe is encouraging companies to launch new natural products in the pet care ingredients market.
In May, 2019 Pet Animal Supplies Inc. (Petco) decided to stop selling any dog and cat food with artificial colorings, flavors, or preservatives. This is in line with the growing demand for healthy and nutritious dog and cat food and the increasingly negative image of artificial ingredients, with the retailer looking to build confidence in its range.
Companies, such a Bob Maretin through Naturally, Blue Buffalo Co. Ltd., and others, have significant natural pet food offerings in the pet care ingredients market. In February 2020 Cargill Company launched a plant-based patty and ground products which in turned boosted sales of the company’s products in the market.
Opportunities for Pet Care Ingredients Market
Pet humanization is the major reason behind people opting for premium pet food products, as they would always want the best for their pet companions. Pet owners are demanding premium quality food products that incorporate healthy ingredients and products that meet the highest possible food quality standards in pet care ingredients market.
Most of the pet owners, especially in the U.K., agree that good quality food products are essential for the digestive health of their pets. Besides premiumization, customization, and personalization of food products are another opportunity for the pet care ingredients market as pet care ingredients can be tailored according to the specific needs and food requirements of the pets.
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Challenges for Pet Care Ingredients Market
Current Covid-19 outbreak resulting in challenges of growth of pet care ingredients. During a Covid-19 pandemic outbreak, due to lockdowns and closing of offline and online stores customers are unable to shop pet care food and are not able to get any pet care services. Thus the pet care ingredients market is facing growth challenges in present scenario.
Further, most of the pet care ingredients in the market are safe and are manufactured as per the safety standards, but there are certain cases where pet care ingredients incorporate certain harmful chemicals or microorganisms that adversely affect the health of pets.
Such food contaminations often result in product recalls in the market. Such cases frequently occur in the market. Thus, manufacturing facilities of pet care ingredients need to adhere to the rules and standards laid down by the respective agencies.
Global Pet Care Ingredients Market: Key Players
Some of the key players operating in the global pet care ingredients market are
- Colgate-Palmolive Co.
- Nestle S.A.
- Marc Inc.
- Procter & Gamble Co.
- Agrolimen S.A.
- Archer Daniels Midland (ADM)
- Cargill Incorporated
- BASF SE
- Ingredion Incorporated
- JM Smucker Co.
- Hill’s Pet Nutrition SNC
- Blue Buffalo Co. Ltd.
- Crown Pet Foods Ltd.
Pet Care Ingredients Market: Regional Outlook
The pet care ingredients market is growing rapidly in North America followed by Europe with the rising in demand of high-quality diets by pet owners is driving further growth opportunities for global pet care ingredients market. Most of the companies in North America have started exporting the products and expanding the distribution channel in Asia Pacific and Latin America which in turn is increasing the market penetration in these regions.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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