According to new Global Market Insights, Inc, chemical research report Pet Food Ingredients Market size should witness significant growth during the foreseeable timeframe led by increasing pet adoption rate and rising awareness for pet’s health and nutritional requirements. Rising pet adoption rates owing to changing lifestyle and high disposable income may drive the product demand. The younger generation are more inclined towards pet adoption, and providing them proper care, thus boosting the pet food ingredients market demand.
Increasing awareness of nutritional importance and continuous research and development in ingredients such as amino acids, omega-3 fatty acids, dietary fibers, carotenoids and other minerals may foster the overall market growth. These ingredients are used in pet food manufacturing as they offer several benefits such as metabolism, digestion and overall development. Pet owners can choose wide variety of pet foods as per breed, life stage, diseases or ingredient preference thus driving the pet food ingredients market.
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Rising number of diseases like diarrhea and chronic nausea owing to unhealthy gut and improper diet are the factors which may drive the market growth. Omega -3 fatty acids, prebiotics and probiotics, Mannan-oligosaccharide (MOS), beta-glucan and fructo-oligosaccharides (FOS) are widely used in pet food ingredients to improve gut health. These ingredients stimulate anti-tumor and anti-microbial activities by binding macrophages and white blood cells receptors thereby fueling the pet food ingredients market demand.
Phosphates are chemical derivative of phosphoric acid, which occurs naturally and are essential for humans and animals’ body. Global phosphate market size is supposed to be valued at over USD 75 billion by 2021. Phosphates are widely used pet food ingredient as it works along with calcium which make bones strong and helps in eliminating body waste thereby driving the pet food ingredients market size.
Natural pet food ingredients like soy, corn, grains and vegetables are widely used owing to their high nutritional value and low cost are the key factors responsible for the increasing product demand. Global soy protein market was valued at over USD 5 billion in 2017. Natural pet food ingredients like soy and other vegetables, eggs and fish protein are widely used in pet foods owing to their high protein, vitamins and mineral content thereby accelerating the product demand.
Palatants are used as pet food ingredients to make food taste better, it makes food palatable by making its taste and smell similar to meat or other flavors. The global palatants market size is likely to be accounted at over 2.5 billion by the year 2027. Palatants are used as taste enhancer as they impart certain flavors which attract pets to consume food, thus increasing the food consumption which in turn foster the market growth.
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North America pet food ingredients market led by the U.S., Canada and Mexico shall register a substantial growth during the forecast timeframe. Pet adoption in the region is increasing as they provide good company and security which may stimulate the regional market growth. In 2017, more than 85 million U.S families owned a pet. Furthermore, increasing demand for nutritional and healthy pet food may drive the market growth.
Europe led by Italy, Spain, France, UK and Germany pet food ingredients market size shall witness a significant growth by the year 2025. The number of households having one pet is increasing rapidly, people are expanding more on pets owing to rising disposable income. In 2017, the number of pet cats was accounted at over 100 million in Europe. Increasing consumer consciousness towards various nutritional elements for pet food which act as a major part of their diet may drive the regional pet food ingredients market growth.
Pet food ingredients market is highly fragmented owing to presence of large number of manufacturers. Companies like DuPont Nutrition & Health, FoodSafe Technologies, AFB International, Diana Pet Food, Biorigin, American Dehydrated Foods, Alltech, Camlin Fine Sciences and BTSA are the key market players.
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