Westford, USA, Feb. 28, 2023 (GLOBE NEWSWIRE) -- By the end of the forecast period, France is anticipated to hold the largest market share for Europe pet food protein ingredients market. The market is expected to develop due to the well-established pet food production industry and rising demand for new pet protein products in the region. The main factors driving the market's expansion include increasing awareness of the advantages of dietary protein for pets, a rise in pet ownership and associated spending, and rising demand for upscale pet food. There are a number of fresh sources that could be included in pet diets. Future practical and inventive protein sources include pulses proteins, bug protein, and microbiological proteins from sources including algae, nannochloropsis, bacteria, yeast, and fungi.
The latest insights from SkyQuest show that with more than 10.1 million dogs as pets, Germany had the greatest pet dog population in the EU in 2021. Pet ownership benefits an astounding 87.9 million families (37%) with 111 million cats, 91 million dogs, 53 million birds, 31 million small mammals, 16 million aquariums, and 10 million reptiles. And, with this, the value of the pet food market has increased by 2.9% to reach $21.7 billion.
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Pet meals are specialty food components created to satisfy the dietary requirements of domesticated animals kept as pets. Pet food frequently contains components like vitamins, grains, cereals, by-products of meat, minerals, and animal products. Beef, chicken, goat, fish meal, and other types of animal-based protein are frequently included in pet food. Soybean meal and corn-gluten meal are two typical plant-based sources of protein used in pet food.
Prominent Players in Europe Pet Food Protein Ingredients Market
- Roquette Frères Le Romarin (France)
- Kerry Group plc (Ireland)
- Protix B.V. (Netherlands)
- BHJ A/S (Denmark)
- Symrise AG (Germany)
- SARIA A/S GmbH & Co. KG (Germany)
- BENEO GmbH (Germany)
- heristo Aktiengesellschaft (heristo AG)
- Nestlé S.A. (Switzerland)
- United Petfood (Belgium)
- Farmina Pet Foods Holding B.V. (Netherlands)
- Vafo Group a.s. (Czech Republic)
- Mars, Incorporated
- Tiernahrung Deuerer GmbH (Germany)
- Monge & C. S.p.A. (Italy)
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Animal By-products Segment to Dominate the Market Growth Owing to Its High Protein Content
The market for pet food protein ingredients in Europe is anticipated to be dominated by the animal byproducts segment in 2021. The significant market share of this category can be attributed to the high protein content, balanced amino acid profiles, higher digestibility, and palatability of animal byproducts used in the production of pet food. The animal byproducts can be bifurcated into chicken, fish, and other meat-based food. Further, the rising poultry farm in the region in order to meet the expanding demand for eggs and chicken meat is predicted to boost the segment growth.
SkyQuest noted during research that almost 371,000 people are employed directly in breeding, producing, fattening, slaughtering, and processing; the majority of them work on one of the 25,500 family farms, the majority of which are situated in rural areas of the Europe region. In the UK, there are more than 2,610 businesses engaged in chicken production, and the UK consumed around 1.11 billion broilers, about 43.1 million boiling birds, and roughly 11.1 million turkeys in 2021 as a dietary supplement for humans as well as animals.
Dry Pet Foods Segment to Gain Largest Market Share Thanks to Increasing Demand Among Consumers
In Europe, the market for pet food protein components is anticipated to be dominated by dry pet foods in 2021. The large market share of dry pet foods is mostly attributable to their long shelf life, relatively inexpensive, ease of stocking, and greater energy content. Owing to all these benefits people are keener to buy dry pet food. Moreover, the rising sales and manufacturing of these products and growing investment in this segment by key market players to launch novel and innovative products is predicted to boost the segment growth during the forecast period. SkyQuest found that Nestlé announced the introduction of a new line of Purina packaged pet foods in November 2020 that uses insect protein in part. The items were initially only intended for sale in Switzerland. These cat and dog food items are made with proteins from meat, vegetables, and the larvae of the black soldier fly.
In 2021, France hold the largest market share for protein components used in pet food in Europe. France holds the top spot in the pet food manufacturing industry thanks to its established industry, growing demand for novel proteins, and increased production of pet food products. The rapid growth of this national market can be attributed mostly to the expanding popularity of high-protein pet diets and the desire for vegan and functional pet food.
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Key Developments in the Europe Pet Food Protein Ingredients Market
- OpteinicsTM, BASF's digital solution for improving comprehension and lessening the environmental imprint of the feed and animal protein sectors, will be licensed to Evonik on a non-exclusive basis beginning in September 2022, per an agreement between the two companies.
- By February 2019, investments have brought in more than €500 million for European insect producers. These monies are anticipated to raise the size of the insect farms' production, which will improve the goods' price stability and competitiveness.
- In order to establish leadership in the insect sector globally, Protix B.V. established the biggest insect farm in Bergen, Netherlands, in June 2019.
- OpteinicsTM, BASF's digital solution to improve comprehension and lessen the environmental impact of the feed and animal protein sectors, will be licensed to Evonik on a non-exclusive basis beginning in September 2022, per an agreement between the two companies.
Key Questions Answered in the Europe Pet Food Protein Ingredients Market Research Report
- What are the growth drivers and influencing factors for Europe pet food protein ingredients?
- What causes are responsible for any emerging markets in the market that are anticipated to have significant growth?
- How does the demand for the target market alter as a result of changes in regulatory regulations and the state of the global economy?
- What are the main market challenges that key market players must overcome in order to remain competitive, and what are some successful solutions?
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Europe Plant-based Food Market
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