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Pet Food Ingredients Market worth $53.2 Billion by 2025 | Key Players are ADM, DSM, Cargill, Incorporated, BASF SE, Ingredion Incorporated, Roquette Frères, SunOpta, Darling Ingredients

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Pet Food Ingredients Market worth $53.2 Billion by 2025 | Key Players are ADM, DSM, Cargill, Incorporated, BASF SE, Ingredion Incorporated, Roquette Frères, SunOpta, Darling Ingredients

October 20
06:45 2021
Pet Food Ingredients Market worth $53.2 Billion by 2025 | Key Players are ADM, DSM, Cargill, Incorporated, BASF SE, Ingredion Incorporated, Roquette Frères, SunOpta, Darling Ingredients
The global pet food ingredients market size is estimated to account for USD 38.6 billion in 2020 and is projected to reach USD 53.2 billion by 2025, recording a CAGR of 6.6% during the forecast period.

The report Pet Food Ingredients Market by Ingredient (Cereals, Meat & Meat Products, Vegetables, Fruits, Fats, and Additives), Source (Animal-based, Plant-based, and Synthetic), Pet (Dog, Cat, and Fish), Form (Dry and Liquid), and Region – Global Forecast to 2025″, The global pet food ingredients market size is projected to reach USD 53.2 billion by 2025, which was estimated at USD 38.6 billion in 2020; it is expected to grow at a CAGR of 6.6% from 2020. Factors such as rise in the disposable income of the middle-class population has led to an increase in the spending capacity on pets. Pets are treated as companions to the owners, and increasing health concerns of their pets have encouraged them to opt for premium pet food products. Pet owners prefer buying high-quality and differentiated food products for their pets to provide them nutrition and variety in pet food. Furthermore, the expansion of pet superstores has made premium and super-premium pet food easily accessible.

Pet Food Ingredients Market

Driver: Increase in pet expenditure with a substantial rise in pet food expenditure

Along with the rise in the pet population, the global pet food industry has also been expanding, owing to the increasing expenditure of pet owners on a variety of pet food products. For instance, according to the APPA, the total US pet industry expenditure increased from USD 48.35 billion in 2010 and stood at USD 72.56 billion in 2018. Furthermore, it is estimated that that pet industry expenditure would reach USD 75.38 billion in 2019. In 2017, about USD 29.07 billion was spent on pet food, which is 44.6% of the total expenditure. This increased by 4.3% in 2018, making the total expenditure on pet food reach USD 30.32 billion. Thus, the rise in pet ownership, along with the increase in pet food expenditure, is projected to drive the demand for pet food across the globe.

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Restraint: Non-uniformity of regulations hindering international trade

According to the Federal Food, Drug, and Cosmetic Act of 1938 (FFDCA), animal food is required to be safe for consumption and manufactured in sanitary conditions. The foods must not contain harmful substances and should have approximate labeling. The Food Safety Modernization Act of 2010 (FSMA) introduced guidelines related to certification, sterilization, hygiene, and labeling of ingredients for pet food manufacturers in the US.

Government monitoring agencies in Europe and North America have strict regulations set for the animal feed industry as compared to those in the Asia Pacific and South American regions. The regulations related to pet food ingredients such as preservatives, ethoxyquin, and food dye are different in various countries.

Due to the lack of a universal regulatory structure, global trading becomes difficult. Huge investments are made in manufacturing feed additives. Different regulations lead to severe losses for manufacturers. It becomes expensive to frequently update the technologies and facilities in accordance with the changing guidelines. Pet food manufacturers are required to submit patent and approval applications to launch new products in different countries. Huge losses are incurred due to delays in receiving approvals from agencies, such as the European Patent Office and the Canadian Intellectual Property Office, which issue patents for new products that are launched. Establishment of a universal governing body for the pet food ingredients sector will help in smooth business operations worldwide..

The cat food segment, by pet, is estimated to witness the fastest growth in the pet food ingredients market

The pet food ingredients market, based on pet, is segmented as dog, cat, fish, and others. Dogs are the most popular pets adopted, and key players are focusing on offering pet food for them to gain a significant share in the pet food ingredients market. The US witnesses the highest registration of pet dogs, which is estimated to be more than 73 million.

The demographical statistics in Asia are unreliable as pet dogs do not have to be registered in this region. However, the number of pet dogs is estimated to be nearly 110 million in China and 32 million in India. The sales of premium cat food are on the rise, and its high cost has not caused any hindrance in the growth of the premium cat food market. The increasing focus of consumers on preventive healthcare is one of the factors driving the demand for expensive and high-quality cat food in the pet food industry.

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North America dominated the pet food ingredients market, in terms of value and volume

North America accounted for the largest market share in 2019. The pet food ingredients market is consolidated in North America and dominated by several companies such as ADM, Cargill, Ingredion, SunOpta, DuPont, Darling Ingredients, and Kemin. In North American countries such as the US and Canada, the pet food ingredients market is driven by the expansion of production plants of leading companies and acquisitions to meet the rising demand from the pet food industry. These factors have fueled the growth of the pet food ingredients market in the North American region.

This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such ADM (US), DSM (Netherlands), Cargill, Incorporated (US), BASF SE(Germany), Ingredion Incorporated (US), Roquette Frères (France), SunOpta (Canada), Darling Ingredients (US), Omega Protein Corporation (US), DuPont (US) and Kemin (US).

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