Pet Food Ingredients Market is expected to grow at a CAGR of 5.5% during the forecasted period | Evolve Business Intelligence

Key Highlights:
• The global Pet Food Ingredients Market size was valued at USD 1.34 billion in 2022 growing at a CAGR of 5.5% from 2023 to 2033.
• Asia Pacific dominated the market in 2022
• north america is expected to grow at the highest CAGR from 2023 to 2033

As per the study initiated by Evolve Business Intelligence, the global Pet Food Ingredients Market size accounted for USD 1.34 billion in 2022, growing at a CAGR of 5.5% from 2023 to 2033.The pet food ingredients market involves the various components used in the formulation of pet food to meet the nutritional needs of domestic animals. These ingredients include proteins, grains, fats, vitamins, minerals, and additives, carefully balanced to ensure a complete and balanced diet for pets. The market is driven by the increasing pet population, rising awareness of pet health and nutrition, and a growing trend toward premium and specialized pet food products. Manufacturers focus on incorporating high-quality and natural ingredients to meet consumer preferences for healthier pet food options. The pet food ingredients market spans a range of sources, including meat, vegetables, and synthetic additives.

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The pet food ingredients market is primarily driven by the expanding pet population and a growing awareness of pet health and nutrition. Increasing consumer demand for premium and specialized pet food products, featuring high-quality and natural ingredients, fuels market growth. Manufacturers respond by formulating balanced diets with proteins, grains, fats, vitamins, and minerals to meet the evolving preferences for healthier pet food options.

Key Players
Some of the major Pet Food Ingredients Market players holding high market shares include FoodSafe Technologies; Symrise; AFB International; DuPont Nutrition & Health; Biorigin and Lallemand Inc.. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Eurotec Nutrition; Impextraco Ltda Brazil; Pancosma; Altech; Vitablend Nederland B.V.; Elanco

Report Description: https://evolvebi.com/report/pet-food-ingredients-market-analysis/

Segmental Analysis

Global Pet Food Ingredients Market By Source (Synthetic, Plant-Based, Animal-Based), By Form (Dry, Wet, Others), By Ingredients (Cereals, Vegetables & Fruits, Fats, Meat And Meat Products, Additives, Others), By Pet (Dog, Cat, Fish, Others)

Based on Ingredient Type, the Pet Food Ingredients market is segmented into amino acids, acidifiers, vitamins, specialty proteins, minerals, flavors and sweeteners, gut health ingredients, mold inhibitors, phosphates, and carotenoids. In terms of revenue, the amino acids category held the greatest share of 30.9% in 2022 and is predicted to grow at a compound annual growth rate (CAGR) of 6.3% over the forecast period. This is because of the effectiveness of the substance, which supports healthy heart health, immune system and cardiac function, good vision, prevents infections, and slows the growth of bacteria and pathogens in dogs.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

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