Pet food ingredients market to be worth $47.4 billion by 2028

Chicago, January 24, 2024 /PRNewswire/ — gave Pet food ingredients market It is estimated 34.2 billion US dollars More are expected to arrive in 2023. 47.4 billion US dollars to 2028, at a CAGR of 6.8% from 2023 to 2028, according to a report published by MarketsandMarkets™. The global pet food ingredients market has witnessed remarkable growth in recent years, driven by advances in pet nutrition research that have promoted the development of specialty ingredients that cater to specific nutritional needs. , has therefore contributed to the growth of the market. The dynamic nature of the industry reflects growing trends in pet ownership, with more people choosing pets and demanding premiums. Personal nutrition Solutions for their furry companions. Overall, the pet food ingredients sector is witnessing strong growth due to changing consumer preferences, better awareness of pet health, and the continued trend to humanize pets.

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By form, dry ingredients are estimated to grow at the highest rate in the pet food ingredients market.

The global pet food ingredients market is witnessing significant growth in interest and investment, with dry ingredients emerging as a key driver of this growth. Dry pet food’s convenience and long shelf life have contributed to its popularity among pet owners, leading to continued market expansion. Additionally, the affordability and ease of storage make dry ingredients a preferred choice for both manufacturers and consumers. The suitability of dry pet food for different types of pets and nutritional requirements further fuels its market growth, offering the versatility to cater to a wide spectrum of pets. Increasing pet ownership, along with growing demand for convenient and affordable pet nutrition solutions, is driving the growth of the pet food ingredients market for dry ingredients.

In terms of meat and meat products, deboned meat accounted for the largest share in 2022 by value.

Pet owners are increasingly preferring premium nutrition for their animals, and deboned beef is known for its high-quality protein content, which is important for their general health. Additionally, the pet food business is responding to growing knowledge about pet allergies, and deboned beef, as a sole source protein, addresses concerns about food sensitivities. Deboned meat contains essential amino acids, which promote proper muscle growth in pets. This is especially good for busy or growing animals. The protein in deboned beef is highly digestible, allowing pets to absorb and use it efficiently, therefore benefiting their general health.

By pet, cats are estimated to grow at the highest rate in the pet food ingredients market.

Growing cat ownership drives demand for specialty and high-quality cat food ingredients. As more and more families welcome cats into their homes, there is an increased emphasis on providing proper nutrition to protect the health of these feline pets. Cat owners look for quality ingredients that reflect human dietary preferences, such as natural and healthy ingredients that are high in key nutrients. Growing knowledge about cat health and nutrition is leading to an expanding market, prompting pet owners to choose cat food options with high-quality ingredients. These factors combine to propel the rapid growth of the cat food ingredients industry.

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gave Asia Pacific The region is likely to be the fastest growing in terms of value.

In the pet food ingredients market Asia Pacific The region is experiencing strong growth due to several key factors. The region is driving demand for premium and nutritionally advanced pet food ingredients. Additionally, a cultural shift toward the humanization of pets is influencing consumer preferences, with pet owners looking for high-quality ingredients that reflect their own dietary choices. Additionally, growing awareness of pet health and nutrition is a driving force, leading to increased demand for specialty and natural pet food ingredients. I users Asia Pacific are increasingly prioritizing the well-being of their pets, resulting in a preference for products rich in essential nutrients, vitamins and minerals. This trend coincides with a broader global movement toward all-natural and sustainably sourced pet food options. According to Alltech data, the region’s pet food production rose 1.65 percent to 2.48 million tons in 2022, from 2.27 million tons in 2021.

In summary, the growth of the pet food ingredients market in Asia Pacific The increase in pet ownership, a cultural shift toward the humanization of pets, and an increasing emphasis on pet health and nutrition have been driven forward.

Key Market Players

Key players in this market include BASF SE (GermanyDarling Ingredient Inc (US), Cargill, Incorporated (US), Ingredion (US), DSM (The NetherlandsOmega Protein Corporation (US) ADM (US), Kemin Industries, Inc. (US), Chr. Hansen Holding A/S (Denmark) Roquette Frères (France), Schooler Company (US), Symrise (Germany), movie (NorwayLallemand Inc. (Canada), and Phileo by Lesaffre (France).

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