Pet Food Ingredient Market to be Worth $83.6 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Feb. 7, 2023 /PRNewswire/ -- The global pet food ingredient market size is anticipated to reach USD 83.6 billion by 2030, expanding at a CAGR of 4.8% by 2023 to 2030, according to a new report by Grand View Research, Inc., An increase in pet ownership across the globe along with the pet premiumization trend is propelling the pet food ingredients market growth.

Key Industry Insights & Findings from the report:

• Based on ingredients type, the amino acids segment accounted for the largest share of 30.9% in 2022 in terms of revenue owing to a wide application of tryptophan and lysine amino acids in aquaculture feed. It is expected to expand at a CAGR of 6.3% over the forecast period owing to increased awareness among pet parents regarding the nutritional needs required by their pets. The demand for lysine and leucine is more for cats and dogs.
• The gut health ingredient segment is expected to grow at the fastest CAGR of 10.9% over the forecast period 2023-2030. This is attributed to the premiumization trend as consumers are looking for gut-health-specific products providing benefits like improving immune system and digestion.
• Asia Pacific accounted for the largest revenue share of 35.6% in 2022. China is expected to grow at the fastest CAGR of 5.8% during the forecast period. This is attributed to an increase in consumer spending on premium pet food with specific health requirements products giving Chinese retailers and manufacturers a great opportunity to grow.
• Europe accounted for a significant market share of 26.5% in 2022 and is anticipated to grow at a CAGR of 4.6% over the forecast period. The rise in pet ownership and humanization has boosted the market in this region.
• Mergers & acquisitions, agreements, R&D activities, and expansions are the key strategies being adopted by the companies over the past years. For instance, in November 2022, Mars announced that its division Mars Petcare acquired Champion Petfoods, a global pet food ingredient manufacturer. In more than 90 countries, its two brands, ORIJEN and ACANA, have established a solid and reliable reputation while expanding quickly. With a greater regional presence as a result of this partnership, Mars is anticipated to reach an even better position in the market.

Read full market research report for more Insights, "Pet Food Ingredient Market Size, Share & Trends Analysis Report By Ingredients (Specialty Protein, Amino Acid, Phosphates, Vitamins, Acidifiers, Antioxidants, Mold Inhibitors), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Pet Food Ingredient Market Growth & Trends

The COVID-19 pandemic had a positive impact on the pet food ingredient market as during the first lockdown consumers were stocking up on pet food as they assumed a shortfall of products in the future. Additionally, a lot of people who were lonely adopted a pet when looking for a companion. As people are spending more time at home, it has affected how they perceive the health of their pets which gave rise to the pet premiumization trend.

Pet Food Ingredient Market Segmentation

Grand View Research has segmented the global pet food ingredient market report based on ingredients, and region:

Pet Food Ingredient Market - Ingredients Outlook (Revenue, USD Million, Volume, Kilo Tons, 2017 - 2030)

• Specialty Proteins
• Beef Proteins
• Egg Proteins
• Blended Proteins
• Hydrolyzed Proteins
• Pork Protein
• Fish Protein
• Poultry Protein
• Ovine Proteins
• Cervine Proteins
• Other Animal Proteins
• Plant Proteins
• Algal Proteins
• Amino Acids
• Lysine
• Methionine
• Threonine
• Cysteine
• Others
• Mold Inhibitors
• Gut Health Ingredients
• Beta-Glucan
• Cereals
• Mushroom
• Yeasts
• Seaweed
• Phosphates
• Monocalcium
• Dicalcium
• Phospholipids
• Others
• Vitamins
• Water-Soluble
• Fat-Soluble
• Acidifiers
• Carotenoids
• Astaxanthin
• Beta-Carotene
• Zeaxanthine
•  Lutein
• Others
• Enzymes
• Phytases
• Carbohydrates
•  Proteases
• Others
• Mycotoxin Detoxifiers
• Flavors & Sweeteners
• Antimicrobials & Antibiotics
• Minerals
• Antioxidants

 Pet Food Ingredient Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Western Europe
• Germany
• U.K.
• France
• Russia
• Asia Pacific
• China
• Japan
• Thailand
• Australia
• South Korea
• Taiwan
• Central & South America
• Brazil
• Argentina
• Chile
• Colombia
• Middle East & Africa
• Saudi Arabia
• Turkey
• Morocco
• South Africa

 List of Key Players in Pet Food Ingredient Market

• FoodSafe Technologies
• Symrise
• AFB International
• DuPont Nutrition & Health
• Biorigin
• Lallemand, Inc.
• Eurotec Nutrition
• Impextraco Ltda Brazil
• Pancosma
• Alltech
• Vitablend Nederland B.V.
• Elanco

Check out more related studies published by Grand View Research:

• Pet Food Market - The global pet food market size is expected to reach USD 139.29 billion by 2030, registering a CAGR of 4.4%, as per a new report by Grand View Research Inc. Packaged pet food provides standard nutritional value required in pet's daily life. This is projected to drive market growth over the forecast period.
• Animal Feed Micronutrients Market - The global animal feed micronutrients market size is expected to reach USD 2.12 billion by 2025, according to a new report by Grand View Research, Inc. The demand is expected to grow significantly over the coming years on account of high application scope coupled with increasing utilization in poultry application.
• Animal Feed Enzymes Market - The global animal feed enzymes market size is expected to reach USD 2.67 billion by 2025, according to a new report conducted by Grand View Research, Inc. Rising requirement for enhanced nutritional value and quality in meat & dairy products is estimated to provide significant scope for the consumption of key feed processing additives including enzymes, vitamins, and emulsifiers over the years ahead. Furthermore, growing consumer awareness regarding the vitality of animal protein intake is likely to play a crucial role in influencing the scenario of the feed enzyme industry.

Browse through Grand View Research's  Animal Feed and Feed Additives Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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