Pet Food Ingredient - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Pet Food Ingredient Market is accounted for $34.42 billion in 2018 and is expected to reach $65.99 billion by 2027 growing at a CAGR of 7.5% during the forecast period. Some of the key factors influencing the market growth include acceptance of insect-based protein and oil by pets and increase in pet population and pet adoption. However, non-uniformity of regulations is hindering the market growth.
Pet food is basically a plant or animal driven product made for the consumption of pet animals. It is usually specific to the type of animal i.e dog food or cat foods are different. The development of the pet food ingredient has encouraged due to the emerging awareness in pet nutrition which included benefits of minerals, omega-3 fatty acids, and fibers among others in pet food.
Based on the form, the dry segment is going to have a lucrative growth during the forecast period. The dry form is used more widely in pet food products, and their popularity can be attributed to their cost-effective nature and low moisture content, which facilitates convenient handling during processing and storage.
By Geography, Europe is likely to have a huge demand due to he increase in the sale of pet food products in countries such as Brazil. Argentina is the fastest-growing pet food market attributed to increased consumer spending and consumer awareness, despite inflation.
Some of the key players in global Pet Food Ingredient market are DowDuPont Inc., Omega Protein Corporation, Ingredion Incorporated, SARIA Group, Big Heart Pet Brands, Colgate-Palmolive Co., Nestle SA, Diamond Pet Food Inc., Laroy Group, BASF SE, Proctor & Gamble Co., Blue Buffalo Co., Ltd, Hill's Pet Nutrition, Spectrum Brands / United Pet Group and Pedigree
• Wet/Canned food
• Dry food
• Meat & Meat Products
• Plant Derivatives
• Animal Derivatives
• Other Pets
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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