Pet Food Ingredients Market Projected to Reach USD 102.7 Bn by 2032, Exhibiting 6% CAGR from 2023 reports that the demand for high-end pet foods is growing as pet owners seek better nutrition and address specific health or dietary needs. Manufacturers are now responding by adding premium ingredients to their products.

New York, Oct. 11, 2023 (GLOBE NEWSWIRE) -- The Pet Food Ingredients Market is poised for growth, with a projected CAGR of 6% from 2023 to 2032, resulting in an estimated value of USD 102.7 billion by 2032, up from USD 58.2 billion in 2022. This spike is indicative of a thriving pet food sector, which is linked to the quality and diversity of its ingredient market. These elements are critical in ensuring the health, nourishment, and overall well-being of our beloved animal companions.

The market's increasing trend is supported by a boom in pet adoptions, which drives long-term demand. Essential elements such as amino acids and omega-6 fatty acids command the biggest market share, actively contributing to the well-being of dogs. Notably, they are also the fastest-growing segment of the food component market, which helps to improve the quality of life for our beloved pets.

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DSM Nutritional Products announced plans for a cutting-edge pre-mix animal food facility in the Tonganoxie Business Park in June 2023, marking a key milestone. This plant not only exemplifies the industry's commitment to excellence, but it also values its people, giving competitive earnings that average an astonishing $72,000 per year, even for entry-level positions. These advances are in line with changing customer expectations, where discriminating pet owners want ingredients that improve the health and vitality of their pets. The significant expenditures in modern, cutting-edge facilities demonstrate the industry's unwavering commitment to achieving these needs.

Furthermore, Anchor Ingredient Co. began construction on a USD 40 million ingredient manufacturing facility in Richmond, Indiana in June 2023. This plant, ideally located at the centre of pet food manufacturing, guarantees a consistent supply of top-tier ingredients.

These strategic measures are likely to change the pet food component business by increasing manufacturing capacity, streamlining supply chain efficacy, attracting top-tier talent, meeting consumers' demands for premium ingredients, and harmonizing with sustainability and ethical issues. As a result, the pet food ingredient market is poised for continued expansion and innovation, offering a bright and profitable future.

Key Takeaways

  • By Source, plant derivatives are dominant in the pet food ingredients market, offering rich nutrients and aligning with sustainability concerns.
  • By Form, Wet pet food with high moisture content is on the rise, appealing to picky eaters and aiding hydration.
  • By Animal Type, Dogs dominate the market due to their widespread ownership and demand for high-quality food.
  • By Ingredient, The pet food industry is shifting towards healthier and natural ingredients, with a focus on vegetables and fruits.
  • Market leaders such as DSM Nutritional Products and Anchor Ingredient Co. are prioritizing investments in cutting-edge facilities, stressing excellence, employee well-being, and talent acquisition in order to ensure a steady supply of high-quality ingredients.
  • Amino acids and omega-6 fatty acids play critical roles in the Pet Food Ingredients Market, exercising enormous influence and rapidly increasing market share. They are critical in promoting pet nutrition and health.

Driving Factors

Growing Demand for Specialty and Premium Pet Food

There is a growing market for high-end and specialized pet foods. Pet owners are prepared to spend more on specialized, high-quality pet food products. The desire to give pets the finest nutrition possible and to address certain health issues or dietary preferences are the driving forces behind this movement. In response, producers are adding premium components to their goods.

More People Owning Pets

The rising global pet ownership rate is one of the main factors fuelling the market for pet food ingredients. The demand for pet food and related products grows as more individuals decide to bring pets into their homes. Urbanization, shifting lifestyles, and the companionship that pets offer are all contributing causes to this trend.

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Restraining Factors

Restrictive Rules

The pet food ingredients market is governed by strict laws and standards, which may serve as a barrier. For producers, complying with these rules can be expensive and time-consuming, and any non-compliance can lead to product recalls and legal problems.

Cost of Raw Materials is High

The challenge of high raw material costs is a significant factor affecting the pet food ingredients market. This issue arises from the need to source top-quality raw materials, which is essential for producing high-quality pet food products. The cost associated with acquiring premium ingredients such as high-quality meat, fish, and specialty grains can substantially influence the overall cost of production for pet food manufacturers.

Growth Opportunities

The growing popularity of plant-based pet treats is reshaping the pet food industry by reflecting changing consumer preferences and a heightened awareness of the environmental and health aspects of pet food choices. This trend presents opportunities and challenges for traditional ingredient suppliers. As more pet owners seek plant-based and vegetarian alternatives for their pets, ingredient suppliers may need to adjust their offerings to meet these evolving consumer expectations. This shift requires exploring new plant-based ingredients, fostering innovation in sourcing and processing, and collaborating with emerging plant-based pet food brands. Additionally, highlighting the health and environmental benefits of plant-based options can help suppliers tap into a growing market and educate both manufacturers and consumers about the advantages of these products.

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Report Scope

Report AttributeDetails
Market Value (2022)US$ 58.2 Billion
Market Size (2032)US$ 102.7 Billion
CAGR (from 2023 to 2032)6.0% from 2023 to 2032
Historic Period2016 to 2022
Base Year2022
Forecast Year2023 to 2032

Regional Analysis

The United States leads North America, which dominates the pet food ingredients market globally. Due to its enormous pet ownership population and prevalent tendency of treating pets like family members, the United States has the largest market for pet food ingredients in the world. This has led to an increase in the demand for specialized pet nutrition and the requirement for a variety of components. There are numerous pet food producers in the nation, including big businesses and specialized niche players that are all devoted to keeping up with changing consumer expectations.

Another key competitor in the North American market is Canada, which is renowned for emphasizing the use of high-quality, natural ingredients in pet food. Canada has seen a rise in demand for premium pet food ingredients due to its strong economy and population, which places a high priority on canine health and wellness.

Mexico is quickly becoming a major player, thanks to urbanization and a rising middle-class population. Premium pet food products, particularly those with premium ingredients, are becoming more and more popular among Mexican consumers. This change has increased demand for pet nutrition ingredients in the nation and reinforced the sector's significance in the North American market.

In general, North America upholds strict regulatory standards for the ingredients used in pet food through organizations like the FDA and CFIA. By ensuring quality and safety, this helps to establish and sustain consumer confidence in the market. The region maintains its leadership in the world's pet food business thanks to its dedication to research and development, which includes cutting-edge ingredients like alternative proteins.

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Segment Analysis

Source Type
Plant-based foods derived from peas, lentils, potatoes, and sweet potatoes supply vital nutrients and present a wholesome substitute for conventional animal-based products. The smaller environmental impact is in line with the growing emphasis on sustainability, making them an eco-conscious choice for consumers.

Form Type
Wet pet food is preferred due to its high moisture content, which also appeals to picky eaters and promotes hydration, which is especially advantageous for cats. It dominates the market since it is readily digestible and ideal for pets with dietary restrictions or sensitivities, reflecting the increasing focus on pet health and well-being.

Animal Type
Dogs are leading the animal type trend, which is being primarily supported by the rising proportion of households with dogs around the world. Premium and organic products are preferred, placing an emphasis on top-notch, healthy ingredients, reflecting the growing humanization of pets and the desire to provide them with the best possible nutrition.

Ingredient Type
Vegetables and fruits are the industry's top priorities as it moves toward more natural, healthier ingredients. They are high in vital nutrients and provide a variety of health advantages, meeting the need for organic and natural pet food, aligning with the consumer shift towards healthier and more wholesome options for their pets.

Segments Covered in the Report

By Source

  • Plant Derivatives
  • Animal Derivatives
  • Additives
  • Synthetic

By Form

  • Wet
  • Dry
  • Mixture

By Animal Type

  • Dog
  • Cat
  • Bird
  • Fish
  • Others

By Ingredient

  • Vegetables and Fruits
  • Meat and meat products
  • Cereals
  • Fats

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

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Competitive Landscape Analysis

Leading chemical company BASF SE is a pioneer in pet food additives, providing a wide selection for excellent, balanced pet nutrition. Their emphasis on innovation and sustainability satisfies the growing demand for premium pet goods.

A significant participant, Koninklijke DSM N.V., is known for its expertise in nutrition and provides specialized additives to improve the nutritional value of pet food. They are a favoured option for pet food producers because of their commitment to research, which offers creative solutions.

Through its subsidiary Hill's Pet Nutrition, Colgate-Palmolive, which is recognized for oral care, specializes in pet food components. Their premium ingredients put animal health first, utilizing a well-known brand in the pet food sector and a large client base.

Key Market Players

  • Koninklijke DSM N.V.
  • Colgate-Palmolive Company
  • Archer Daniels Midland Company
  • Agrolimen SA
  • Nutriara Alimentos Ltd.
  • The Nutro Company
  • Darling Ingredients Inc.
  • Marshall Ingredient
  • The Scoular Company.
  • FoodSafe Technologies
  • Alltech
  • Symrise
  • Elanco
  • DuPont Nutrition and Health
  • Kemin Industries, Inc.
  • Omega Protein Corporation
  • Lallemand Inc.
  • Balchem Inc.
  • Cargill Inc.

Recent Development

  • Nutrideer, a pet supplement firm from New Zealand, introduces a new line of goods in September 2023 that feature NZ Deer Milk as a cutting-edge ingredient for pet nutrition, presenting it as a great discovery.
  • Nor-Feed made plans to invest in increasing the production capabilities of its factory in Anjou, western France, in July 2023. The company's growing export sales and the requirement to meet the escalating demand for its products across Europe are the driving forces behind this expansion.
  • Purina PetCare Contribution: Purina PetCare is praised for its support of Nestle in H1 2023 in July 2023.

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