The global pet food ingredients market, as projected by Future Market Insights (FMI), is poised to reach a valuation of US$ 42.2 billion by 2023 and is expected to soar to US$ 68.3 billion by 2033, with a robust CAGR of 4.9% during the forecast period.
One of the primary drivers fueling the demand for pet food ingredients is the increasing ownership of pets worldwide. This trend significantly influences the demand for both essential and discretionary pet products, including treats, toys, and various food items.
Pet ownership is expected to rise notably among millennials, senior citizens, and single-member households. Moreover, the growing preference for adopting cats and dogs as companions across residential settings globally further propels the growth of the pet food ingredients industry.
There is a notable surge in demand for pet foods free from synthetic hormones, antibiotics, harmful pesticides, artificial colors, preservatives, or flavors. As a response, manufacturers are diversifying their product offerings by introducing a wide array of organic and natural options to cater to this evolving market trend. For example, Kroger has introduced vegetarian and high-protein pet diets that are all-natural, aligning with the growing consumer preference for healthier pet food choices.
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The usage of parabens falls under the regulatory purview of the US Food and Drug Administration (FDA). These preservatives are commonly found in pet food ingredients, as well as in pharmaceutical and cosmetic formulations. However, concerns have been raised regarding the potential adverse effects of parabens, which are considered endocrine-disrupting substances (EDCs), on the reproductive, nervous, and developmental systems of animals.
Emerging research has shed light on the presence of heavy metals, bisphenol A, and other endocrine-disrupting chemicals in pet food. This growing understanding of the harmful impacts of preservatives may impact the sales of products used in pet food ingredients. For instance, commercial dog food often contains preservatives like butylated hydroxyanisole (BHT) and butylated hydroxytoluene (BHA), which are associated with potential risks of cancer in animals.
Amidst these concerns, there is a notable shift towards prioritizing ingredients in pet food that offer both convenience and effectiveness. Consequently, the focus on the number of ingredients in pet food formulations is diminishing, with consumers gravitating towards sophisticated product versions that emphasize quality and safety. Modern innovations and technological advancements have led to the development of appealing packaging solutions, further enhancing the consumer experience and comfort.
Key Takeaways from the Pet Food Ingredients Report:
- The Europe pet food ingredients market is anticipated to escalate at 4.5% CAGR over the forecast period.
- Leading companies in the global pet food ingredients market are likely to account for around 20% to 25% of the total market share.
- The North America pet food ingredients market is estimated to surge at an 3.5% CAGR over the forecast period.
- The USA pet food ingredients market is set to create an absolute dollar opportunity of US$ 18.7 billion in the next ten years.
- India pet food ingredients market is expected to witness growth at a CAGR of 7.7% in the assessment period.
“Over time, dog adoption has considerably escalated, especially in industrialized and developing countries. Need for pet food is predicted to surge quickly, which would benefit the market for pet food ingredients. Another element driving the market is increasing demand for premium dog food, which is supported by high maintenance costs,” –Nandini Roy Choudhury, Client Partner at Future Market Insights
Competition Landscape: Pet Food Ingredients
The global market for pet food ingredients is extremely competitive due to the fact that big pet food manufacturers are continually broadening their product offerings. They are using a wide variety of organic and inorganic strategies, including alliances, mergers, new product launches, construction of novel manufacturing facilities, and bolstering of distribution networks, to enhance their global footprint.
Get More Valuable Insights into Pet Food Ingredients Market
In its latest offering, Future Market Insights offers a thorough study of the pet food ingredients market, covering historical demand data (2018 to 2022) and forecast data from 2023 to 2033.
The study provides compelling insights into the global pet food ingredients market ingredient type (starches, rice, dietary fiber, fruit ingredients, protein), animal type (dogs, cats, birds), nature (organic, conventional), product type (wet food, dry food, treats & chews), distribution channel (online, offline), and region.
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Pet Food Ingredients Market Outlook by Category
By Ingredient Type:
- Starches
- Maize/Corn
- Tapioca
- Potato
- Wheat
- Rice
- Whole Grains
- Fruits and Vegetables
- Seeds and Legumes
- Dietary Fiber
- Wheat
- Rice
- Bran
- Potato
- Legumes
- Oats
- Inulin
- Nuts and Chicory Root
- Fruit Ingredients
- Apple
- Cranberry
- Blueberry
- Other Fruit Ingredients
- Protein
- Sugar
- Fructo-Oligosaccharides
- Manna-oligosaccharide
- Sorbitol
- Propylene Glycol
- Glycerol
By Animal Type:
- Dogs
- Cats
- Birds
- Others
By Nature:
- Organic Pet Food Ingredients
- Conventional Pet Food Ingredients
By Product Type:
- Wet Food
- Dry Food
- Treats and Chews
- Other Product Types (Frozen Food, Raw Food)
By Distribution Channel:
- Online
- Offline
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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