Pet owners are becoming more cautious of the substances used in pet food items as their awareness of these ingredients grows. As pet owners become more aware of the health benefits of natural and organic pet food, demand for organic and natural pet food products has surged in the pet care ingredients market.
Companies in the pet care ingredients market are increasing their product offerings to include natural and organic goods, taking advantage of the current trend. Kroger, for example, sells natural pet food with proteins and other beneficial ingredients. Additionally, in the pet care ingredients market, GMO (genetically modified organism) free food items are available for pets. Pet owners prefer food products that are free from artificial colors and preservatives, as well as healthy for their pets.
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Drivers for Pet Care Ingredients Market
Rapid urbanisation has expanded product availability in emerging economies’ retail stores, which is one of the primary drivers of the pet care ingredients market’s growth.
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.
In the pet care ingredients market, companies like Bob Maretin through Naturally, Blue Buffalo Co. Ltd., and others have considerable natural pet food options. Cargill Company developed plant-based patties and ground products in February 2020, which increased 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
The current Covid-19 epidemic is posing growth issues for pet food components. Customers are unable to shop for pet food or receive any pet care services during a Covid-19 pandemic outbreak due to lockdowns and the closure of offline and internet establishments. As a result, the pet care ingredients industry is now confronting growth obstacles.
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
- DuPont
- 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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