Pet Food Ingredient Market size is forecast to reach $ 53.7 Bn by 2025, growing at a CAGR of 6.72% during the forecast period 2020-2025. Pet food is plant or animal material intended for consumption by pets. Typically sold in pet stores and supermarkets, it is usually specific to the type of animal, such as dog food or cat food. The pet food ingredients are specifically formulated and intended for consumption of pets. Pet Owner buy high quality of food products for their pets to provide nutrition and variety in their foods. The constituents include many essential micronutrients such as proteins, fats, carbohydrates. Increasing demand in the worldwide adoption of pets is leading the growth of Pet food ingredient market during the forecast period 2020-2025.
- North America dominated the Pet Food Ingredient Market owing to adoption of pets in both developed and emerging countries and increasing demand of pet food in this region.
- Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Pet Food Ingredient Market report.
- With the increase in high disposable income of middle-class population the total spending of pet foods has increased which is leading to growth of market during the forecast period 2020-2025.
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Geography – Segment Analysis
Based on Geography, Pet Food Ingredient Market is segmented to North America, Europe, Asia Pacific, and Rest of the World. North America dominated the market in 2019 with share of 41.8%. This is owing to rising trends for pet humanization and pet adoption in countries such as U.S and Canada. Also, with an increasing awareness of the benefits of high-quality pet food is leading to demand of Pet food ingredients in this region. Asia Pacific is set to be fastest growing segment during the forecast period 2020-2025 owing to increase in pet adoption in countries such as India. Rising demand of pets in this region is also owing to increasing young generation compassion of pets and social status.
Drivers – Pet Food Ingredient Market
- Rise in number of Pet Population and Owners
Pet Food Ingredient Industry Outlook
Pet Food Ingredient, top 10 companies are Cargill Incorporated, Archer Daniels Midland Company, BASF SE, DowDuPont Inc, Darling Ingredients, Omega Protein Corporation, SARIA Group, Nutreco N.V., The Scoular Company, and Ingredion Incorporated, among others.
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