Pet Food Ingredients Market is Growing at a Steady CAGR of 5.4% between 2022 and 2032

The pet food ingredient market was valued at US$ 11.49 Bn in 2021 and is projected to grow at a CAGR of 5.4%, to reach a value of US$ 20.5 Bn by 2032. The market accounts for 6% of the overall pet care market which was valued at US$ 189 Bn in the year 2021.

This growth is attributed to the current trend observed among consumers, especially the younger generation on animal humanization and pet culture. This has resulted in consumers being willing to pay premium prices on nutritional food for their four-legged friends. This has subsequently helped in boosting the sales of pet food ingredients globally.

Moreover, cultural changes have influenced the rise in pet ownership are becoming increasingly popular among customers particularly among millennials and generation Z to some extent as they intend to depend on these pets for emotional support. As a result, households with younger members have a larger inclination towards pet ownership, making them an attractive demographic for the pet food industry.

To Remain 'Ahead' of your Competitors, Request for Report Sample@
https://www.futuremarketinsights.com/reports/sample/rep-gb-14311

Increasing consumer awareness regarding organic pet food ingredients has grabbed the attention of manufacturers and hence there is a shift of focus from artificial to natural ingredients which have acted as one of the major forces impacting the global market.

Key Takeaways from Market Study

Under the segment by conventional nature the pet food ingredients market is anticipated to hold a market share of around 87.% in 2022
The market is also segmented based on ingredient type where protein-based pet food is anticipated to account for 19.7% of the overall ingredient type market in the year 2022.
In the European market, Germany is accounted for a significant share of 20.1% in 2022, which is also expected to witness a lucrative growth rate of 2.9% during the forecast period.
Growing consumer demand for nutritious and healthy food for their pets is driving sales of pet food ingredients across global markets.
By product type, dry pet food ingredients are anticipated to hold the highest market share of around 36.8% and wet food ingredients are inferred to hold a market share of 34.3% by 2032 end.
Post COVID-19 the factories are now operational at full-scale and there are no logistic constraints at the same time. Moreover, import and export from the European market to the globe is anticipated to increase in the next few years

"Manufacturers in pet food ingredients market are currently focusing on organic market strategies such as new product innovations and launches to attract new customers and subsequently earn higher revenues globally" says a Future Market Insights analyst.

Talk to Analyst @
https://www.futuremarketinsights.com/ask-question/rep-gb-14311

Competitive Landscape

Top players in the pet food ingredients are majorly investing in the research & development of nutritious pet food ingredients along with enhancing the quality of their products. These manufacturers are constantly updating their product lines with new launches keeping in mind the requirements of a healthy diet for an animal.

Chr. Hansen launched its science-based probiotics for the pet segment. It introduced a  new portfolio of stable live probiotics for use in  pet supplements and pet foods, enhancing every pet's life stage with good bacteria
Cargill launched The Chompery™, a new line of butcher-quality dog treats which are sourced in the US

Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global pet food ingredient market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

Get 40% OFF on Customized Report@
https://www.futuremarketinsights.com/customization-available/rep-gb-14311

Segmentation Analysis of Global Pet Food Ingredients Market

By Ingredient Type:

Starches
Maize/Corn
Tapioca
Potato
Wheat
Rice
Whole Grains
Fruits and Vegetables
Seeds and Legumes
Dietary Fibre
Wheat
Rice
Bran
Potato
Legumes
Oats
Inulin
Nuts and Chicory root
Fruit Ingredients
Apple
Cranberry
Blueberry
Other Fruit Ingredients
Protein
Sugar
Fructo-Oligosaccharides
Mannan-oligosaccharide
Sorbitol
Propylene Glycol
Glycerol

By Animal Type:

Dogs
Cats

By Nature:

Organic Pet Food Ingredients
Conventional Pet Food Ingredients

By Product Type:

Wet Food
Dry Food
Treats and Chews
Other Product Types (Frozen Food, Raw Food, etc.)

Read Other Reports:

Plant-based Meat Market : https://www.globenewswire.com/en/news-release/2022/10/17/2535751/0/en/Global-Plant-based-Meat-Market-is-Expected-to-grow-at-a-CAGR-of-4-5-and-is-Projected-to-Grow-from-US-4-784-2-Mn-in-2022-to-US-7-429-7-Mn-by-2032-end-Future-Market-Insights-Inc.html

Pulse Flour Market : https://www.globenewswire.com/en/news-release/2022/10/18/2536408/0/en/Growing-popularity-of-Nutritional-values-and-Protein-Blends-Present-Pulse-Flour-Market-with-a-revenue-of-US-52-3-Bn-business-opportunity-by-2032-end-Future-Market-Insights-Inc.html

Chickpea Market : https://www.globenewswire.com/en/news-release/2022/10/18/2536715/0/en/High-demand-for-Plant-based-products-will-boost-the-Chickpea-Market-zoom-past-US-21-Bn-by-2032-end-Get-analytical-data-by-Future-Market-Insights-Inc.html

Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers,
Dubai
​United Arab Emirates
For Sales Queries: sales@futuremarketinsights.com

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

This release was published on openPR.