The global pet food ingredients market size is estimated to account for USD 38.6 billion in 2020 and is projected to reach USD 59 billion by 2027, recording a CAGR of 6.3% during the forecast period
The Pet Food Ingredients market in the U.S. is estimated at US $9.6 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$9.9 Billion by the year 2027 trailing a CAGR of 7.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.1% and 2.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2% CAGR.
Rising pet adoption rates owing to changing lifestyle and high disposable income may drive the product demand. The younger generation are more inclined towards pet adoption, and providing them proper care, thus boosting the pet food ingredients market demand.
Pet food manufacturers offer wide-ranging products with multiple options that serve various purposes. Customers can choose products depending on various factors such as breeds, life stages, price points, ingredient preferences, disease conditions, etc. Thus, this kind of changing dynamics is likely to boost the pet food ingredients market.
Further, it is estimated that the number of households with companion animals between 2006 and 2016 grew significantly across the globe. Especially in the United States, the growth in the total number of households in the past ten years has been observed to be less than the growth in the total number of households with companion animals.
Also, increasing dog and cat adoption along with the rising focus on improving productivity and health are some of the major driving factors for the market. At present, the majority of ingredients used in the preparation of companion animal’s food are synthetic owing to the low cost and ease of availability.
Pet food ingredients markets is segmented into form, ingredients, pet and sources. Based on form, the Global Pet Food Ingredient market is segmented into Dry Pet Food Ingredient and Wet Pet Food Ingredient. Based on Ingredient, the Global Pet Food Ingredient market is segmented into Meat & Meat products, Cereals, Vegetables, Fats and Additives. Based on Pet, the Global Pet Food Ingredient market is segmented into Dog, Cat, Fish and Others. Based on Sources, the Global Pet Food Ingredient market is segmented into Animal derivates, Plant derivates and Synthetic.
The Asia Pacific, with a market share of more than 34% by revenue emerged as the largest regional market in 2018. Increasing population, rising disposable income, and growing humanization trend in the region emerged as the primary driving factors for boosting the consumer spending on the care of companion animals. The market is shifting from mass market to premium products owing to increasing consumer preferences for natural products.
North America led by the U.S., Canada, and Mexico emerged as the third largest regional market in 2018. The U.S. emerged as the dominating market in North America owing to the presence of well-developed pet food industry along with high ownership percentage of dogs, cats, horses, etc. Considering the population of cats, dogs, and fishes, the country is considered to be amongst the top five regions across the globe.
Countries such as the U.S. and China have a balanced demand-supply situation in the animal feed and pet food industry, owing to which positive developments are expected to be witnessed by the companies operating in these markets. Chinese ingredient manufacturers have consolidated at a faster pace compared to the rest of the world, in terms of acquisitions and integrations.
Pet food ingredients market is highly fragmented owing to presence of large number of manufacturers. Companies like DuPont Nutrition & Health, FoodSafe Technologies, AFB International, Diana Pet Food, Biorigin, American Dehydrated Foods, Alltech, Camlin Fine Sciences and BTSA are the key market players.
The Pet Food Ingredients market in the U.S. is estimated at US $9.6 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$9.9 Billion by the year 2027 trailing a CAGR of 7.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.1% and 2.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2% CAGR.
Rising pet adoption rates owing to changing lifestyle and high disposable income may drive the product demand. The younger generation are more inclined towards pet adoption, and providing them proper care, thus boosting the pet food ingredients market demand.
Pet food manufacturers offer wide-ranging products with multiple options that serve various purposes. Customers can choose products depending on various factors such as breeds, life stages, price points, ingredient preferences, disease conditions, etc. Thus, this kind of changing dynamics is likely to boost the pet food ingredients market.
Further, it is estimated that the number of households with companion animals between 2006 and 2016 grew significantly across the globe. Especially in the United States, the growth in the total number of households in the past ten years has been observed to be less than the growth in the total number of households with companion animals.
Also, increasing dog and cat adoption along with the rising focus on improving productivity and health are some of the major driving factors for the market. At present, the majority of ingredients used in the preparation of companion animal’s food are synthetic owing to the low cost and ease of availability.
Pet food ingredients markets is segmented into form, ingredients, pet and sources. Based on form, the Global Pet Food Ingredient market is segmented into Dry Pet Food Ingredient and Wet Pet Food Ingredient. Based on Ingredient, the Global Pet Food Ingredient market is segmented into Meat & Meat products, Cereals, Vegetables, Fats and Additives. Based on Pet, the Global Pet Food Ingredient market is segmented into Dog, Cat, Fish and Others. Based on Sources, the Global Pet Food Ingredient market is segmented into Animal derivates, Plant derivates and Synthetic.
The Asia Pacific, with a market share of more than 34% by revenue emerged as the largest regional market in 2018. Increasing population, rising disposable income, and growing humanization trend in the region emerged as the primary driving factors for boosting the consumer spending on the care of companion animals. The market is shifting from mass market to premium products owing to increasing consumer preferences for natural products.
North America led by the U.S., Canada, and Mexico emerged as the third largest regional market in 2018. The U.S. emerged as the dominating market in North America owing to the presence of well-developed pet food industry along with high ownership percentage of dogs, cats, horses, etc. Considering the population of cats, dogs, and fishes, the country is considered to be amongst the top five regions across the globe.
Countries such as the U.S. and China have a balanced demand-supply situation in the animal feed and pet food industry, owing to which positive developments are expected to be witnessed by the companies operating in these markets. Chinese ingredient manufacturers have consolidated at a faster pace compared to the rest of the world, in terms of acquisitions and integrations.
Pet food ingredients market is highly fragmented owing to presence of large number of manufacturers. Companies like DuPont Nutrition & Health, FoodSafe Technologies, AFB International, Diana Pet Food, Biorigin, American Dehydrated Foods, Alltech, Camlin Fine Sciences and BTSA are the key market players.
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