Pet foods can be plant or animal based, intended for consumption by pets. Pet food mostly contains proteins, carbohydrates, vitamins, minerals, fats, and certain amounts of preservatives. Grains & vegetables are commonly used, especially for dog food. Each ingredient plays a vital role in providing enrichment to the animal body. Meat is generally considered a good source of protein, and it also increases the taste of product. Many ingredients such as meat, poultry, and grains are considered safe, and do not require pre-market approval.
Increasing adoption of pets in developed and developing economies, growing awareness regarding benefits of high quality pet food, and rising demand for pet food are key factors driving growth of the global pet food ingredients market. Additionally, changing consumer lifestyle in developing countries, increasing disposable income, and increasing trend of pet humanization are other factors expected to boost growth of the global pet food ingredients market over the forecast period.
However, risk of infectious diseases due to consumption of pet foods containing preservatives is a key factor restraining growth of the global pet food ingredient market. Additionally, lower shelf life of organic pet foods, and increasing demand for fresh food rather than that of packaged foods are other factors expected to hamper growth of the global pet food ingredients market over the forecast period.
The global pet food ingredients market is segmented on the basis of, type, application, and region. On the basis of region, the global pet food ingredients market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in North America dominated the global pet food ingredients market, owing to rising trend for pet humanization, and growing demand for pet food products for healthy and better performance of pets in countries in the region. The market in Europe accounted second-highest market share in terms of revenue, owing to growing awareness regarding animal health and nutrition, and rising demand for pets among individuals in the region. The market in Asia Pacific is expected to witness fastest growth in terms of revenue and is projected to register highest CAGR during the forecast period.
Prominent players in the global pet food ingredients include BASF SE, Koninklijke DSM N.V., Colgate-Palmolive Company, Archer Daniels Midland Company, Agrolimen SA, Nutriara Alimentos Ltd., The Nutro Company, Darling Ingredients Inc., Marshall Ingredient, and The Scoular Company.