- The meat & meat products segment generates the most revenue in the market.
- The dog segment is generating most of the market revenue.
- Animal- sourced pet foods are an excellent source of proteins and other nutrients essential for a pet's diet.
Pets require essential nutrients such as proteins, vitamins, and minerals to stay strong and healthy. Concern for a healthier lifestyle, fewer digestive disorders, high energy level, healthy weight, and longer lifespan in pets are few of the key drivers boosting the growth of pet food ingredients market.
Ingredients used in pet food are available in raw form, and then further processing is done by pet food manufacturers.
The Pet Food Ingredients Market has been segmented by ingredients into meat & meat products, cereals, vegetables, fats, and additives. The meat & meat products segment generates the most revenue in the market due to the enhanced palatability and acceptability of meat-based pet food. Meat is a good source of glucosamine, chondroitin, vitamins, and protein, among others, that help in brain development, bone health, and immune system of pets.
Pet Food Ingredients market is segmented by pet into dog, cat, fish, and others. The dog segment is generating most of the market revenue, due to rising adoption of different breeds of dogs worldwide. Dogs require more nutritional value than other pets in terms of health and performance thereby boosting the growth of the dog food ingredients segment.
In terms of form, pet food ingredients market is segmented into dry and liquid, where the dry ingredients segment dominates the market. Dry pet food ingredients have more nutrition content and its low moisture level offers longer shelf life than liquid form, thereby driving the market for dry pet food ingredients segment.
The market, by source, is segmented into animal based, plant based, and synthetic. The animal-based source segment is the dominating segment in the market. since animal- sourced pet foods are an excellent source of proteins and other nutrients essential for a pet’s diet.
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Geographically, North America is observed to hold the greatest share in the global pet food ingredients market owing to the rising demand for a healthier pet diet. With increasing pet humanization, health concerns among pet owners for their pets have also increased in this region. Europe contributes a healthy revenue share toward the global pet food ingredients market owing to the rising pet adoption in Europe. A majority of the households in this region own at least one pet and consider every possible measure to take care of these pets.
Asia-Pacific is expected to be the fastest growing market for pet food ingredients owing to the increasing adoption of pets that mainly include cats. Pet Fair Asia is the largest annual trade show of animal supplies and aquariums in Asia. Such exhibitions boost the demand for pet food ingredients in the region.
Some of the key players in the global pet food ingredients market are Archer Daniels Midland Co. (US), DSM N.V. (The Netherlands), Cargill Inc. (US), BASF SE (Germany), Ingredion, Inc. (US), Roquette Frères (France), SunOpta (Canada), DowDuPont, Inc. (US), Omega Protein Corp. (US), and John Pointon & Sons Ltd. (UK).