Pet Food Ingredients Market to Reach USD 67 Billion by 2030 with a CAGR of 8%

Pet Food Ingredients Market to Reach USD 67 Billion by 2030 with a CAGR of 8%

 

According to industry analysts at Next Move Strategy Consulting, the global Pet Food Ingredients Market is projected to grow at a compound annual growth rate (CAGR) of 8%, reaching USD 67 billion by 2030.

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The market encompasses raw materials such as proteins, carbohydrates, fats, vitamins, and minerals that are formulated to meet the nutritional needs of various pets. High-quality ingredients, including those sourced from plants and animals, play a crucial role in promoting pet health, driving advancements in ingredient sourcing and processing.

Key Market Drivers

  1. Rising Pet Ownership
    • The increasing number of pet-owning households globally fuels market growth. Reports indicate 45% of U.S. households and 28% of UK adults owned pets, highlighting the growing demand for high-quality, nutritious pet food.
  2. Growing Pet Food Expenditure
    • The American Pet Products Association spent on pet food in the U.S., reflecting a surge in demand for premium, nutritious ingredients.
  3. Adoption of Sustainable Proteins
    • Ingredients like black soldier flies, tofu dregs, and egg-based proteins offer high nutritional value and a reduced environmental footprint, paving the way for sustainable growth in the market.

Challenges

Resource scarcity, including limited supplies of specialized grains and high-quality meats, constrains the market's growth potential, emphasizing the need for innovative solutions to meet consumer demand.

Regional Insights

  • North America: Dominates the market due to high pet ownership rates and rising disposable income, driving the demand for premium and organic pet food ingredients.
  • Asia-Pacific: Forecasted to grow at the fastest rate due to increasing pet ownership and demand for sustainable, nutritious options.

Competitive Landscape

Leading players such as Cargill Incorporated, BASF SE, Archer Daniels Midland Company (ADM), and Koninklijke DSM N.V. are actively involved in product launches, partnerships, acquisitions, and expansions to maintain market dominance.

Future Opportunities

The adoption of novel protein sources and the growing trend of premiumization in pet food ingredients are expected to offer lucrative opportunities for market players.

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Key Market Segments

  • By Type: Non-vegan (beef, chicken, fish) and vegan (soybeans, lentils)
  • By Form: Dry and wet ingredients
  • By Distribution Channel: Online and offline

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    About Next Move Strategy Consulting:

    Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

    We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicates as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

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