Global Pet Food Market - 2019-2026
|寵物食品的全球市場:未來展望 Global Pet Food Market - 2019-2026|
|出版日期: 2019年11月01日||內容資訊: 英文||
The Global Pet Food Ingredients market was valued at USD xx million in 2017 and is estimated to reach USD xx million by 2025, with a CAGR of xx% during the forecast period from 2018 to 2025.
Drivers & Restraints
The Global pet food ingredient market is growing because of the increasing pet ownership rate and pet humanization in developed economies and raising awareness regarding pet nutrition and care in the developing regions.
Due to the changing family structure, pet humanization is becoming a popular trend in the developed regions like U.S, U.K, and Germany.
People are treating pets as their family members and are not hesitant in investing in pet care & nutrition; this trend is boosting the market for pet foods which will automatically increase the need for pet food ingredients market globally.
The growing rate of pet adoption and humanization is increasing the Pet Care Market in the UK. Pet food is the largest segment of the Pet Care Market.
Thus, the increasing demand for Pet food will demand more supply of pet food ingredients, thereby boosting the market for pet food ingredients.
The Global Pet food ingredient market report segments the market by ingredient type, source, and pet type. The ingredient segment includes Meat & Meat products, Vegetables, Fruits, Cereals, Fats & Oils, Additives, and Others.
Meat & Meat products are the most significant segment followed by cereals. The large market share of meat & meat products can be attributed to the high demand of meat products for pets because these are a rich source of proteins, fatty acids, B group vitamins and iron which are the essential nutrients required for the growth of pets.
Also, meat products are cost-effective because these are mostly the by-products of food products manufactured for human consumption, plus the meat & meat products enhance the acceptability and palatability of pet food.
Further, by the source, the market can be segmented as Animal-based, Plant-based and Synthetic. Also, the report classifies the market by pet which consists of Dog, Cat, Fish, and Others. Dog food ingredient is the largest segment because of the high adoption of dogs as compared to other pets.
The market report is segmented by geography which includes North America, South Ameri-ca, Europe, Asia-Pacific and Rest of the World.
North America is the leading region for the consumption of Pet food ingredients owing to the rising trend for pet humanization and pet adoption in countries like the U.S. and Canada. The pet ownership rate is continuously increasing in the U.S. because of the changing family structures and lifestyle.
Also, the presence of the primary critical players like ADM, J.M Smucker, Ingredion in the U.S. is propelling the market. These companies are continuously expanding their production and investing in the development of new pet food solutions to cater to the need of the industry. All these factors are fuelling the growth of the pet food ingredients market in the region
Asia-Pacific is estimated to be the fastest growing region. It is because of the high dog adoption rates in countries like China and India.
The pet industry is currently booming in China, and the country has the largest dog and cat pet population in the world after the U.S. Whereas India has the fastest growing dog population in the world. The increasing population of pets has given rise to the various small and medium enterprises catering to the pet food demand, which is further driving the pet food ingredient market in the region.
Key Players in this market
Some of the key players in the Global Pet Food Ingredients market are Archer Daniels Midland Company, Koninklijke DSM N.V., J.M Smucker, BASF SE, Ingredion Incorporated, Roquette Freres, SunOpta, Darling Ingredients Inc., Cargill Inc., and DowDuPont Inc.
The market players are investing in the development of innovative & advanced solutions for the pet, which is also boosting the pet food ingredient market.
What are the critical application segments