The report titled “Pet Food Ingredients Market” sheds a concentrated focus on the Pet Food Ingredients industry in terms of market driver, opportunities, restraints of global segmentation. Further data on the reports also includes demographic conditions, over-turning changing business cycles and analyzing country-to-market.
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The Global Pet Food Ingredients Market size is estimated to be USD 38.6 Billion in 2020 and is projected to reach USD 53.2 Billion by 2025, at a CAGR of 6.6% during the forecast period.
Top Companies Profiled in the Pet Food Ingredients Market:
- Cargill Incorporated (US)
- Archer Daniels Midland Company (US)
- BASF SE (Germany)
- DuPont (US)
- Ingredion Incorporated (US)
“Dog: The largest-growing segment of the pet food ingredients market, by pet food ingredients market pet type”
Dogs are the most popular pets adopted, and key players are focusing on offering pet food for them to gain a significant share in the pet food ingredients market. The US witnesses the highest registration of pet dogs, which is estimated to be more than 73 million. The demographical statistics in Asia are unreliable as pet dogs do not have to be registered in this region.
“Dry: The largest-growing segment of the pet food ingredients market, by pet food ingredients form”
The use of pet food ingredients is increasing at a rapid pace, and the dry segment is projected to account for a major share in the pet food ingredients market. Due to the high demand for dry pet food, ingredients such as cereals, vitamins, and proteins are manufactured in the powdered form, which is easy to use in the final pet food product
“North America: The largest-growing segment of the pet food ingredients market, by pet food ingredients region”
North America accounted for the largest share of the pet food ingredients market, recording a value of USD 12.9 billion in 2019; it is projected to reach USD 19.8 billion by 2025. Factors such as the large pet population, increase in pet adoption, and growth in demand for pet food drive the growth of the region’s pet food ingredients market.