Pet Food Ingredients Market by Ingredient, Source, Pet, Form and Region - Global Forecast to 2027
The Global Pet Food Ingredients Market is estimated to be valued at USD 32.2 billion in 2022. It is projected to reach USD 44.5 billion by 2027, with a CAGR of 6.7%, in terms of value between 2022 and 2027. The market is gaining momentum as pet food ingredients continue to find increased applications across various pet species such as dogs, cats, fish and other pets such as rabbits, birds and horses.
The demand for pet food ingredients is gaining significant traction in the industry, especially due to the rising focus of owners on the health and nutrition of pet animals in recent years.
Additionally, the rising innovation in the pet food ingredients market and technological advancements which are enhancing the efficiency of pet food ingredients have contributed to the growth of the market in recent years.
“By ingredient, meat & meat products segment occupies the highest market share during the forecast period.”
Based on ingredient, meat & meat products accounted for the highest market share among all other segments owing to their rich taste and nutrition profile owing to which they have high acceptability rate among pet animals. Meat & meat products are also effective in supporting the gut health of pets due to their higher amino acid content which is effective in controlling infections and inhibition of growth of pathogens and bacteria. Due to their high acceptability rate among pets, rich nutrition profile and desirable health benefits, they are highly preferred by pet owners, contributing to their increased demand.
“By pet, dog segment is forecasted to account for the dominant segment during the forecasted period.”
Based on pet, the dog segment accounts for the highest market share. Dogs offer an attractive market for manufacturers of pet food ingredients owing to their varied nutritional requirements, compared to other pet animals. A significant number of additives such as vitamins, minerals and enzymes are added to dog food products to satisfy their nutritional requirements. Dogs also account among the most preferred pets among owners, having a healthy adoption rate around the world which presents significant business opportunities for manufacturers of pet food ingredients.
|Related Link: Click here to visit item owner's website (0 hit)|
|Target State: Maharashtra|
Target City : Navi Mumbai
Last Update : 29 September 2022 11:46 AM
Number of Views: 45
|Item Owner : vidhya|
Contact Phone: (None)
|Friendly reminder: Click here to read some tips.|