Pet Food Ingredients Market Growth | Driven by Rising Pet Population and Growing Demand

The global pet food ingredients market is set to achieve a remarkable milestone, projected to reach $73.30 billion by 2031, growing at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031. This growth is propelled by the increasing pet population, rising expenditure on pet food, and a heightened focus on pet health and wellness. However, market expansion faces challenges from stringent regulatory frameworks and fluctuating raw material prices.

Despite these challenges, the market is poised for substantial opportunities. The increasing availability and acceptance of novel pet food ingredients and the proliferation of direct-to-consumer (D2C) brands and start-ups in the pet food sector are expected to drive growth. Nevertheless, the risk of counterfeit products presents a significant challenge to market progress.

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A noteworthy trend within the market is the rising demand for customized pet food, reflecting a shift towards more tailored and specific nutritional solutions for pets.

Leading Companies in the Pet Food Ingredients Market

Several key players are driving innovation and growth in the pet food ingredients market. Here are the top companies making significant contributions:

1. Cargill, Incorporated (U.S.)

   • Founded in 1865 and headquartered in Minnesota, Cargill offers a diverse range of products and services across various industries. Its pet food ingredients portfolio includes proteins, carbohydrates, grains, fats, oils, and postbiotics. Cargill operates in over 70 countries with a workforce of 160,000 employees as of May 2023.

2. Archer-Daniels-Midland Company (U.S.)

   • Established in 1902 and based in Illinois, ADM is a global leader in food ingredients and solutions. The company's Nutrition segment provides a wide array of pet food ingredients, including natural flavors, proteins, and health products. ADM has a presence in over 190 countries and employs 42,001 people globally.

3. BASF SE (Germany)

   • Headquartered in Ludwigshafen and founded in 1865, BASF operates through multiple business segments, including Nutrition & Care, which offers pet food ingredients. The company has a global footprint in over 90 countries with a team of 111,481 employees as of December 2022.

4. DSM-Firmenich AG (Switzerland)

   • Based in Kaiseraugst, DSM-Firmenich specializes in nutrition, health, and beauty products. The company's pet food ingredients include vitamins, minerals, and nutritional lipids. Following a merger in May 2023, DSM-Firmenich operates in more than 60 countries with approximately 30,000 employees.

5. Symrise AG (Germany)

   • Founded in 2003 and headquartered in Holzminden, Symrise offers comprehensive solutions for the pet food industry through its Taste, Nutrition & Health segment. Symrise operates in over 150 countries with a workforce of 12,043 employees as of December 2022.

Meticulous Research® Insights

In its latest publication, Meticulous Research® highlights the pet food ingredients market's anticipated growth, driven by evolving consumer preferences and industry trends.

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Other Prominent Players

• Ingredion Incorporated (U.S.)
• Darling Ingredients Inc. (U.S.)
• Roquette Frères (France)
• Chr. Hansen Holding A/S (Denmark)
• IQI b.v. (Netherlands)

Additional Mention:

• Kemin Industries, Inc. (U.S.), Protix B.V. (Netherlands), Omega Protein Corporation (U.S.), Duynie Ingredients (Netherlands), and KAGOME Australia Pty Ltd (Australia).

Comprehensive Market Analysis

For a detailed analysis of the pet food ingredients market, including financial performance, key products, strategic initiatives, and market trends, refer to Meticulous Research®'s new report. This comprehensive report provides global market size estimates, market share analysis, and in-depth coverage of key issues and trends.

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