Pet Food Ingredient Market: Premium Food Products Segment To Foresee Immense Growth In The Coming Years
Pet Food Ingredients Industry Overview
The global pet food ingredients market size is expected to reach USD 59.45 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 5.9% during the forecast period Increasing pet ownership is one of the key trends escalating market growth.
Rendered protein meals such as fishmeal, poultry by-product meals, and meat and bone meal are universally used in companion animal’s feed owing to protein-rich content along with a good balance of amino acids. Balancing essential and conditionally essential fatty acids is an important factor for the selection of specific fats in a diet regime.
The global sales of dog foods with probiotics exhibited a whopping 139.0% growth from 2017 to 2018. Superfood is witnessing strong growth in sales, including 2.0% sales growth for pet foods with blueberry, 8.0% for cranberry, and 13.0% for sweet potato. Increasing focus on nutrition of companion animals and rising consumer willingness to spend on pet care are anticipated to drive the market at a healthy growth rate over the coming years.
Pet Food Ingredients Market Segmentation
Grand View Research has segmented the global pet food ingredient market on the basis of product and region:
Based on the product Insights, the market is segmented into Specialty Proteins, Amino Acids, Mold Inhibitors, Gut Health Ingredients, Phosphates, Vitamins, Acidifiers, Carotenoids, Enzymes, Mycotoxin Detoxifiers, Flavors & Sweeteners, Antimicrobials & Antibiotics, Minerals, and Antioxidants.
- The amino acidemerged as the most significant pet food ingredient segment. The segment consists of lysine, methionine, threonine, cysteine, among others, wherein lysine is observed to dominate the segment.
- Phosphates are another major segment in this market which is projected to grow at a significant growth rate. Some of the most widely used commercial phosphates in animal nutrition are monocalcium, dicalcium, phospholipids, and orthophosphates. These phosphates provide vital nutrients, hence improve the health of companion animals.
- Gut health ingredients are further classified as beta-glucan, Mannan-oligosaccharide (MOS), Fructooligosaccharides (FOS), probiotics, and prebiotics. These ingredients stimulate antimicrobial and anti-tumor activities through the binding of receptors on white blood cells and macrophages owing to which the product is ginning wide acceptance in this industry.
- Increasing concern towards the use of antibiotics in the agricultural application has provided momentum in the growth of antioxidants, acidifiers, and enzymes. Some of the widely used feed acidifiers are propionic acids, formic acid, fumaric acid, citric acid, acetic acid, lactic acid, and others. Fumaric acid is known to be an efficient and less expensive energy source similar to glucose which is a primary driver for the product.
Pet Food Ingredients Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The pet food ingredients market is highly fragmented. Major manufacturers have adopted several strategic initiatives such as acquisitions, mergers, partnerships, joint ventures, agreements, expansions, and new product launches to increase their footprint in the global market.
Unlike many other commodity’s value chains, the livestock value chains have a majority of the participants, thereby having easily discernible and distinct transactions. Key companies in this market include DuPont Nutrition & Health, FoodSafe Technologies, Diana Pet Food, AFB International, Lallemand, Inc., American Dehydrated Foods, Inc., Kemin Industries, among others.
Sourcing of ingredients coupled with energy consumption in the manufacturing process has driven pet food ingredients manufacturers toward technological advancements. Growing demand for pet food ingredients along with sustainable production is expected to remain a major challenge as well as an opportunity for the producers.
Prioritizing on long-term “off-take” agreements, and production contracts with pet food manufacturers are anticipated to benefit ingredients producers by creating opportunities for boosting the profit margin.
Market participants are focusing on developing countries of Asia Pacific, where the pet food industry is expected to grow at the robust rate which is a major driver for product market. Presence of various untapped markets owing to the lower pet ownership ratio is attracting global players to develop their operation in this region.
Order a free sample PDF of the Pet Food Ingredients Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Comments
Post a Comment