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Pet Food Ingredients Market to Reach $73.30 Billion by 2031

The growth of the pet food ingredients market is driven by the rising pet population coupled with increasing expenditure on pet food, the growing demand for premium pet food, and an increasing focus on pet health and wellness. However, the stringent regulatory structures and fluctuating raw material prices restrain the growth of this market.

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Pet Food Ingredients Market to Reach $73.30 Billion by 2031

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  1. Pet Food Ingredients Market to Reach $73.30 Billion by 2031 - Exclusive Report by Meticulous Research® NEWS PROVIDED BY Meticulous Market Research Pvt. Ltd. May 06, 2024, 10:01 ET  REDDING, Calif., May 6, 2024 /PRNewswire/ -- According to a new market research report titled, 'Pet Food Ingredients Market by Type (Meat & Poultry, Fish, Maize, Wheat, Additives, Novel Ingredients), Application (Pet Meals {Dry Meal}, Pet Treats, Pet Snacks, Veterinary Diet), Pet Type (Dog, Cat, Birds, Ornamental Fish) - Global Forecast to 2031,' published by Meticulous Research , the pet food ingredients market is projected to reach $73.30 billion by 2031, at a CAGR of 8.5% from 2024 to 2031. ® Download Free Sample Report:https://www.meticulousresearch.com/download-sample- report/cp_id=5734 The growth of the pet food ingredients market is driven by the rising pet population coupled with increasing expenditure on pet food, the growing demand for premium pet food, and an increasing focus on pet health and wellness. However, the stringent regulatory structures and ?uctuating raw material prices restrain the growth of this market. Furthermore, the increasing availability and growing acceptance of novel pet food ingredients and the proliferation of direct-to-consumer (D2C) brands and start-ups in the pet food category are expected to generate growth opportunities for the stakeholders in this market. However, the risk of counterfeit products is a challenge impacting the growth of the pet food ingredients market.

  2. Moreover, the rising demand for customized pet food is a prominent trend in the pet food ingredients market. Pet food ingredients refer to the ingredients used in the formulation of pet food products. Plant-based ingredients are gaining traction in the pet food industry due to rising awareness among pet owners about these bene?ts, leading them to seek out pet foods that incorporate plant-based ingredients. These ingredients provide healthy and balanced diets and also align with ethical and environmental considerations. The pet food ingredients market is segmented by type (animal-based ingredients {meat &poultry and ?sh}, plant-based ingredients {cereals & grains[corn/maize, wheat, rice, and other cereals & grains], oilseeds & pulses, fruits & vegetables [carrot residue and other fruits & vegetables], and other plant- based ingredients}, additives, and novel ingredients), application (pet meals {dry meals and wet meals}, treats & snacks, veterinary diets, and other applications), pet type (dogs, cats, birds, ornamental ?sh, and other pet animals), and geography (North America, Europe, Latin America, Asia-Paci?c, and the Middle East & Africa). The report includes an extensive assessment of the key strategic developments by leading market participants in the industry over the past four years (2021–2024). The pet food ingredients market has witnessed several partnerships, agreements, collaborations, mergers, and acquisitions in recent years. The key players operating in the pet food ingredients market are 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), and KAGOME Australia Pty Ltd (Australia). Request Sample Pages from Report: https://www.meticulousresearch.com/request-sample- report/cp_id=5734 Key Findings in the Global Pet Food Ingredients Market Study: Among all the types studied in this report, in 2024, the animal-based ingredients segment is expected to account for the largest share of 72% of the global pet food ingredients market. The large market share of this segment can be attributed to the widespread adoption of animal by-products in pet food

  3. manufacturing due to their high protein content, balanced amino acid pro?les, easy digestibility, and palatability. However, the novel ingredients segment is projected to register the highest CAGR during the forecast period of 2024–2031, owing to the growing acceptance of novel ingredients in pet foods, their easy availability, and health bene?ts. Moreover, the fast growth of this market is further supported by a growing number of novel food ingredient manufacturers, increasing R&D investments from pet food ingredients manufacturers to develop novel ingredients, rising demand for premium pet food products, and growing consumer interest in sustainable pet food sources. Among all the applications studied in this report, the veterinary diets segment is projected to register the highest CAGR during the forecast period of 2024–2031, owing to the increasing demand for health- oriented pet food products, specialized pet food products for di?erent breeds, and products speci?cally formulated for pets of di?erent ages and physiological needs. Among all the pet types studied in this report, in 2024, the dogs segment is expected to account for the largest share of the pet food ingredients market. This segment is projected to reach USD 52 billion by 2031. However, the ornamental ?sh segment is projected to register the highest CAGR of more than 10% during the forecast period of 2024–2031, owing to the rising disposable incomes and growing consumer interest in aquarium ?sh, increasing awareness of the therapeutic bene?ts of keeping ?sh, the hospitality sector's demand for ornamental ?sh to enhance aesthetics, and rising adoption and ownership of ornamental ?sh. Based on geography, the global pet food ingredients market is majorly segmented into ?ve regions: North America, Europe, Asia-Paci?c, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of 32% of the pet food ingredients market. The North America pet food ingredients market is estimated to be worth USD 13.4 billion in 2024. The large share of this market is mainly attributed to the rising number of millennials as pet owners in the region, the presence of a large number of pet food manufacturers, the growing focus on the health and diets of pets, and the presence of major pet food manufacturers in the region. However, Latin America pet food ingredients market is expected to witness signi?cant growth during the forecast period of 2024–2031, mainly due to the region's rising awareness about pet health and nutrition, increasing spending on pet food products, increase in per capita disposable income, and rapid urbanization, and rising trend of nuclear families. Moreover, in Latin America, Brazil is slated to register the highest CAGR during the forecast period of 2024–2031. Currently, Brazil ranks second in the pet

  4. dog population in the world. The country had approximately 54.2 million dogs and 23.9 million cats in 2022 (Source: HealthforAnimals). Moreover, in the past few years, the middle class in Brazil has grown signi?cantly, which has resulted in increased pet ownership in the country. Furthermore, this increased pet ownership is further driving the demand for pet food in the country, which is ultimately expected to drive the growth of the pet food ingredients market in Brazil. Have Speci?c Research Needs? Request a Customized Report: https://www.meticulousresearch.com/request-customization/cp_id=5734 Scope of the Report: Global Pet Food Ingredients Market Assessment—by Type Animal-based Ingredients Meat & Poultry Fish Plant-based Ingredients Cereals & Grains Corn/Maize Wheat Rice Other Cereals & Grains Oilseeds & Pulses Fruits & Vegetables Carrot Residue Other Fruits & Vegetables Other Plant-based Ingredients Additives Novel Ingredients Global Pet Food Ingredients Market Assessment—by Application

  5. Pet Meals Dry Meals Wet Meals Treats & Snacks Veterinary Diets Other Applications Global Pet Food Ingredients Market Assessment—by Pet Type Dogs Cats Birds Ornamental Fish Other Pet Animals Global Pet Food Ingredients Market Assessment—by Geography

  6. North America U.S. Canada Europe Germany France U.K. Spain Poland Italy Rest of Europe Latin America Brazil Mexico Argentina Rest of Latin America Asia-Paci?c China Japan Australia India Rest of Asia-Paci?c Middle East and Africa Buy Now: https://www.meticulousresearch.com/Checkout/83367472 Related Reports: Animal Feed Market by Type (Compound Feed, Feed Concentrate, Roughages), Source (Plant, Animal, Novel Sources), Form (Dry (Pellets, Crumbles), Wet), Animal Type (Poultry, Ruminants (Beef Cattle, Dairy Cattle), Swine, Aquaculture), and Geography - Global Forecast to 2030 Feed Additives Market by Type (Performance Additives, Specialty Additives), Animal Type (Poultry, Ruminants, Swine, Aquatic Animals), Source (Synthetic, Natural), Form (Dry, Liquid), and Geography - Global Forecast to 2030

  7. Animal Feed Probiotics Market by Source (Bacteria [Lactobacillus, Bi?dobacterium, Streptococcus thermophilus, Bacillus]), Animal Type (Poultry, Ruminants, Swine, Aquaculture, Pets, Other Animals), Form (Liquid), and Geography - Global Forecast to 2029 Direct to Consumer (DTC) Pet Food Market by Type (Meal [Standard, Customized], Treats, Supplements), Pet Type (Dogs, Cats), Health Condition (Nutrition), Distribution Channel (Online, O?ine), and Geography - Global Forecasts to 2028 Europe Pet Food Protein Ingredients Market by Source (Animal By Products, Feed Grains, Soybean Byproducts, and Novel Proteins) and Application (Dry Foods, Wet Foods, Veterinary Diets, and Treats and Snacks) - Forecast to 2028 Feed Premix Market by Type (Combination Premixes, Vitamin Premix, Mineral Premix, Amino Acid Premix, Nucleotide Premix, Nutraceutical Premix), Form (Powder and Liquid), Application (Ruminant Feed, Swine Feed, Aqua Feed) — Global Forecasts to 2028 Animal Protein Ingredients Market by Type (Dairy Protein (Milk Protein, Whey Protein, Casein Protein), Egg Protein, Gelatin) and Application (Food and Beverages, Animal Feed, Nutritional Supplements, Pharmaceuticals) - Global Forecast to 2027 About Meticulous Research® Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Paci?c, Latin America, and the Middle East & Africa. The name of our company de?nes our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the ?nest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

  8. Contact: Mr. Khushal Bombe Meticulous Market Research Inc. 1267 Willis St, Ste 200 Redding, California, 96001, U.S. USA: +1-646-781-8004 Europe : +44-203-868-8738 APAC: +91 744-7780008 Email- sales@meticulousresearch.com  Visit Our Website: https://www.meticulousresearch.com/  Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research  Content Source: https://www.meticulousresearch.com/pressrelease/968/pet-food-ingredients- market-2031 Logo: https://mma.prnewswire.com/media/1757980/Meticulous_Research_Logo_1.jpg SOURCE Meticulous Market Research Pvt. Ltd.

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