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Pet Food Ingredients Market Trends

Report ID: GMI3947
Published Date: Jul 2024
Report Format: PDF

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Pet Food Ingredients Market Trends

The market is experiencing notable trends, including a shift towards natural and organic ingredients, driven by consumer demand for healthier and more sustainable pet food options. There is a growing focus on functional ingredients that address specific health concerns, such as joint health, digestion, and skin and coat care. Premiumization of pet food products is on the rise, with pet owners willing to pay more for high-quality, nutrient-dense formulations. The market is also seeing increased innovation in alternative protein sources, such as plant-based and insect-based proteins, to meet the dietary needs of pets while addressing environmental concerns. Additionally, transparency in ingredient sourcing and labeling is becoming increasingly important to pet owners, influencing their purchasing decisions.

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

Pet food ingredients market size was USD 1.41 billion in 2023 and is estimated to witness over 5.3% CAGR through 2032 due to increasing pet ownership and the rising trend of pet humanization, where pets are considered family members

The dog animal segment recorded 51% share in 2023 due to their higher population and widespread popularity

Europe pet food ingredients industry size reached USD 447.9 million in 2023 and is anticipated to record USD 722.7 million by 2032 owing to well-established pet food sector, high levels of pet ownership, and increasing consumer awareness regarding pet health and nutrition.

AFB International, Kemin Industries, Inc., Archers Daniel Midland (ADM), Novus International, Hebei Donghua Chemical Group, Pacific Bioproducts, Omega Protein Corporation, Koninklijke DSM N.V., Lallemand, Inc., and Diana Pet Food are some major pet food ingredient providers