Pet Food Ingredients Market Projected to Reach $73.30 Billion by 2031, Unveils Meticulous Research® Report

Meticulous Research®, a leading global market research company, has announced the release of its latest publication, forecasting the pet food ingredients market to attain a valuation of $73.30 billion by 2031. This projection reflects a robust Compound Annual Growth Rate (CAGR) of 8.5% from 2024 to 2031, underlining the industry's significant expansion.

The surge in pet ownership, coupled with a growing penchant for premium pet nourishment and heightened emphasis on pet health and well-being, are identified as key catalysts propelling the growth of the pet food ingredients market. Despite these favorable trends, challenges such as stringent regulatory frameworks and fluctuating raw material prices present notable hurdles to market advancement.

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In addition, the report underscores the emergence of novel pet food ingredients and the proliferation of Direct-to-Consumer (D2C) brands and start-ups as pivotal growth enablers within the industry. However, the menace of counterfeit products poses a considerable obstacle to market progression.

Customization emerges as a prevailing trend in the pet food ingredients landscape, reflecting a shift towards tailored dietary solutions catering to the unique needs of individual pets.

Key Players

The competitive landscape of the pet food ingredients market is characterized by the presence of numerous global, regional, and local players. Leading entities identified in the market include:

• Cargill, Incorporated (U.S.)
• Ingredion Incorporated (U.S.)
• Darling Ingredients Inc. (U.S.)
• Kemin Industries, Inc. (U.S.)
• Archer-Daniels-Midland Company (U.S.)
• Omega Protein Corporation (U.S.)
• Roquette Frères (France)
• BASF SE (Germany)
• Protix B.V. (Netherlands)
• Duynie Ingredients (Netherlands)
• Chr. Hansen Holding A/S (Denmark)
• DSM-Firmenich AG (Switzerland)
• Symrise AG (Germany)
• IQI b.v. (Netherlands)
• KAGOME Australia Pty Ltd (Australia)

Market Segmentation

The pet food ingredients market is segmented by type, application, pet type, and geography:

• Type: Animal-based ingredients (including meat & poultry and fish), plant-based ingredients (comprising cereals & grains, oilseeds & pulses, fruits & vegetables, and other plant-based ingredients), additives, and novel ingredients.

• Application: Pet meals (encompassing dry meals and wet meals), treats & snacks, veterinary diets, and other applications.

• Pet Type: Dogs, cats, birds, ornamental fish, and other pet animals.

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Geographic Insights

Geographically, the market is analyzed across major regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is anticipated to spearhead market growth, attributed to the burgeoning millennial pet ownership demographic, heightened focus on pet health, and the presence of prominent pet food manufacturers within the region.

The comprehensive report evaluates industry competitors and provides in-depth analyses at regional and country levels, offering valuable insights to stakeholders navigating the dynamic pet food ingredients landscape.

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