Pet Food Ingredients Market - Forecasts from 2020 to 2025

The pet food ingredients market is projected to grow at a CAGR of 5.97% to reach US$17.281 billion by 2025 from US$12.204 billion in 2019. There are quite a few aspects that have led to the comprehension of the importance of pet food which in turn has steered the pet owners to carefully select the same. This cognizance is indirectly leading to a growing demand for the pet food ingredients by pet food manufacturers. Being one of those few categories of products that are not intended for human consumption, however, paradoxically the concerns of pet owners about the health of their pets are address by the quality of pet food to the same degree of attentiveness that they hold towards their health and wellbeing. Therefore, in addition to the growing awareness of the importance of the quality of pet food mentioned earlier, the finer product qualities and most importantly the ingredients have emerged as the prime determinants for the consumers when they purchase pet food. Thus, the humanization of pets has gathered momentum across the globe, which will consequently lead to the increase in pet food consumption driving the pet food ingredients market to a new zenith during and beyond the forecast period.

Further, the propensity of humans to own a pet because consumers are increasingly realizing that the bond between people and their pets can increase fitness, lower stress, and bring happiness to their owners. The aforementioned is inclusive of but not limited to certain health benefits of like decreased blood pressure, decreased cholesterol levels, decreased feelings of loneliness, decreased triglyceride levels, increased opportunities for exercise and outdoor activities, increased opportunities for socialization, among others [Source: Centers for Disease Control and Prevention, U.S. Department of Health & Human Services]. Moreover, dogs are being increasingly used to assist in therapy, serving various kinds of needs. Moreover, 2/3rd of the household in the USA own a pet in 2018 which is a contributing factor toward spending on pet food, one of the major components of pet spending, that has increased over the recent years in the USA [Source: U.S. BUREAU OF LABOR STATISTICS]. Further, in Europe, an estimated 80 million European households own at least one pet animal, among which at least 24% own one dog and at least 25% own one cat. Due to the increased pet ownership at least 1,000,000 direct and indirect jobs are generated by pet ownership Viz. veterinarians or breeders or connected supply industries. Across Europe, as of 2018, there are approximately 132 pet food producing companies and 200 production plants. The pet food industry and related supply and services represent a combined annual turnover of over € 38.5 billion [Source: FEDIAF].

Segmentation:

By Source

• Animal-based
• Plant-based
• Synthetic

By Ingredient-Types

• Additives
• Cereals
• Fats
• Meat & Animal Derivatives
• Vegetables

By Form

• Liquid
• Dry

By Pet

• Dog
• Cat
• Fish
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• UK
• Germany
• France
• Others
• The Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• Japan
• China
• India
• Others