- The pet food ingredient market contributed over USD 28 billion in 2014. It is likely to grow at a CAGR over 4.2% from 2015 to 2020. Increasing pet adoptions and acquisitions are driving the market. Also, enhanced pet distribution networks will boost market incomes in the upcoming years.
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Awareness regarding pet food ingredients and their advantages would also increase market revenues. Concerns regarding pet health and nutrition push owners towards buying such ingredients and furthering market profits. Technological advancements and product launches coupled with research and developments by leading companies are also estimated to propel pet food ingredient market sales.
Some of these companies include Mars, and Unicharm Corp. They are investing in manufacturing capacities to meet the rising demand for these ingredients. However, scarcity of raw materials and varying regulatory structures may impede the market. Less product recognition in under-developed regions is also predicted to challenge the market in the upcoming years. These regions are witnessing low consumer incomes.
The pet food ingredient market can be divided on the basis of ingredients, animals, and geographies. Based on ingredients, the market is fragmented into oil seeds, animal derivatives, grains and vegetables, and fruits. In terms of revenue and volume, animal derivates dominated the market in 2014.
Based on animals, the market is split into fish, dogs, cats, and birds. Dogs contributed over USD 10 billion in 2014. The market is also fragmented into regions of Central and South America, North America, MiddleEast and Africa, Asia Pacific, and Europe.
China and India will offer opportunities to participants of the pet food ingredient market. High disposable consumer incomes and living styles will fuel the demand for quality pet food. Economic growth in developed and developing countries has driven concerns regarding safe pet food ingredients.
Due to augmenting awareness and concerns regarding animal healthcare and nutrition, emerging countries are said to be generating huge demand in the forecast period. These countries include China, India, and Japan. Some participants in the market are Kemin Life Science, The Scoular Company, Nestle Purina, Koninklijke DSM N.V., and Mars Pet Care.
DAR PRO solutions, The Nutro Company, and Roquette are some other pet food ingredient market participants.
Information Source: Grand View Research
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