Global pet food ingredients market to record 6.6% CAGR through 2027 - GlobeNewswire

Selbyville, Delaware, Aug. 26, 2020 (GLOBE NEWSWIRE) -- According to MarketStudyReport LLC, Global pet food ingredients market generated revenues worth USD 36.2 billion in the year 2019 and to reach USD 60.4 billion with growth rate of 6.6% between 2020 and 2027. The growth is primarily attributed to escalating expenditure on pet care and shifting focus towards adopting organic pet food ingredients.

For those uninitiated, pet food is animal or plant-based products which contains of fats, minerals, carbohydrates, proteins, vitamins, and some preservatives. Pet food ingredients comprise of meat, grains, vegetables, and others, which offer nutrition and enrichment to the animal body. Increasing popularity of insect-based proteins and oils among pet owners is stimulating the industry outlook.

Technological advancements and strategic collaborations among the leading players is also facilitating the business scenario. In January 2020, for instance, Darling Ingredients Inc. acquired America-based EnvrionFlight LLC in a bid to develop high quality and sustainable proteins for companion and agriculture animals.

Impact of COVID-19 outbreak

The unexpected outbreak of COVID-19 has compelled worldwide governments to impose temporary lockdowns in order to flatten the curve, resulting in disruption in manufacturing as well as supply chain and distribution processes, which in turn could negatively impact the growth of pet food ingredients market. Additional factors such as lack of standard regulations for pet food, price fluctuations and limited availability of the required ingredients may restrain the overall market growth over the forecast period.

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Market segmentations:

Worldwide pet food ingredients market is divided into various segments on the basis of pet type, ingredients scope, source terrain, and form type. Speaking of pet type, the market is classified into cat, dog, fish, and others. In terms of ingredients scope, the industry is split into fats, meat & meat products, vegetable & fruits, additives, and cereals. Moving on to source type, the market is categorized into plant-based, animal-based and synthetic. By form, pet food ingredients are available as dry and wet.  

A gist of the regional scope

Global pet food ingredients industry is bifurcated into Latin America, Asia-Pacific, Europe, North America and Rest of the World while primarily focusing on Brazil, Mexico, India, China, Australia, Japan, rest of Asia-Pacific, Spain, Italy, France, UK, Germany, rest of Europe, U.S. and Canada among others.

Report cites that Latin America accounts for substantial market share currently and is expected to generate modest revenues in the ensuing years. Various economies in Latin America are providing lucrative growth opportunities for the expansion of pet food industry. Meanwhile, Asia-Pacific pet food ingredients market is reckoned to witness healthy CAGR through 2027.

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An overview of the competitive landscape

Major companies that formulate the competitive terrain of worldwide pet food ingredients market are Roquette Freres SA, Chr. Hansen A/S, DowDuPont Inc., Cargill Inc., Archer Daniels Midland Co., Omega Protein Corp., Ingredion Inc., Darling Ingredients Inc., Bluestar Adisseo Co. and BASF SE among others.

Global Pet Food Ingredients Market by Pet Type (Revenue, USD Billion, 2017-2027)

• Fish
• Cat
• Dog
• Others

Global Pet Food Ingredients Market by Ingredients Type (Revenue, USD Billion, 2017-2027)

• Meat & Meat Products
• Fats
• Vegetable & Fruits
• Cereals
• Additives

Global Pet Food Ingredients Market by Source Type (Revenue, USD Billion, 2017-2027)

• Animal-based
• Plant-based
• Synthetic

Global Pet Food Ingredients Market by Form Type (Revenue, USD Billion, 2017-2027)

Global Pet Food Ingredients Market Regional Analysis (Revenue, USD Billion, 2017-2027)

North America

• Canada
• U.S.

Europe

• Germany
• UK
• Spain
• France
• Italy
• Rest of Europe

Asia-Pacific

• South Korea
• Australia
• Japan
• India
• China
• Rest of Asia-Pacific

Latin America

• Mexico
• Brazil

Rest of the World

Global Pet Food Ingredients Market Competitive Arena (Revenue, USD Billion, 2017-2027)

• Roquette Freres SA
• Chr. Hansen A/S
• DowDuPont Inc.
• Cargill Inc.
• Archer Daniels Midland Company
• Omega Protein Corporation
• Ingredion Incorporated
• Darling Ingredients Inc.
• Bluestar Adisseo Company
• BASF SE

Table of Content:

Chapter 1. Executive Summary

1.1.         Market Snapshot

1.2.         Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)

1.3.         Key Trends

1.4.         Estimation Methodology

1.5.         Research Assumption

Chapter 2. Global Pet Food Ingredients Market Definition and Scope

2.1.         Objective of the Study

2.2.         Market Definition & Scope

2.3.         Years Considered for the Study

2.4.         Currency Conversion Rates

Chapter 3. Global Pet Food Ingredients Market Dynamics            

3.1.         Pet Food Ingredients Market Impact Analysis (2018-2027)

3.1.1.     Market Drivers

3.1.2.     Market Challenges

3.1.3.     Market Opportunities

Chapter 4. Global Pet Food Ingredients Market Industry Analysis

4.1.         Porter’s five Force Model

4.2.         PEST Analysis

4.3.         Investment Adoption Model

4.4.         Analyst Recommendation & Conclusion

Chapter 5. Global Pet Food Ingredients Market, by Pet         

5.1.         Market Snapshot

5.2.         Global Pet Food Ingredients Market by Pet, Performance - Potential Analysis

5.3.         Global Pet Food Ingredients Market Estimates & Forecasts by Pet 2017-2027 (USD Billion)

5.4.         Pet Food Ingredients Market, Sub Segment Analysis

5.4.1.     Dog

5.4.2.     Cat

5.4.3.     Fish

Chapter 6. Global Pet Food Ingredients Market, by Ingredients         

6.1.         Market Snapshot

6.2.         Global Pet Food Ingredients Market by Ingredients, Performance - Potential Analysis

6.3.         Global Pet Food Ingredients Market Estimates & Forecasts by Ingredients 2017-2027 (USD Billion)

6.4.         Pet Food Ingredients Market, Sub Segment Analysis

6.4.1.     Cereals

6.4.2.     Vegetable & Fruits

6.4.3.     Fats

6.4.4.     Meat & Meat Products

6.4.5.     Additives

Chapter 7. Global Pet Food Ingredients Market, by Source         

7.1.         Market Snapshot

7.2.         Global Pet Food Ingredients Market by Source, Performance - Potential Analysis

7.3.         Global Pet Food Ingredients Market Estimates & Forecasts by Source 2017-2027 (USD Billion)

7.4.         Pet Food Ingredients Market, Sub Segment Analysis

7.4.1.     Synthetic

7.4.2.     Plant-based

7.4.3.     Animal-based

Chapter 8. Global Pet Food Ingredients Market, by Form         

8.1.         Market Snapshot

8.2.         Global Pet Food Ingredients Market by Form, Performance - Potential Analysis

8.3.         Global Pet Food Ingredients Market Estimates & Forecasts by Form 2017-2027 (USD Billion)

8.4.         Pet Food Ingredients Market, Sub Segment Analysis

8.4.1.     Dry

8.4.2.     Wet

Chapter 9. Global Pet Food Ingredients Market, Regional Analysis

Related Report:

Animal Feed Protein Ingredients Market Size, Regional Outlook, Application Potential, Trends, Competitive Market Share & Forecast, 2020 – 2026

Animal Feed Protein Ingredients market size estimated to register more than 6.0% CAGR between 2020 and 2026, as per new research report. Increasing investments along with supportive government initiatives to promote agribusiness will foster product demand. From a geographical frame of reference, North America animal feed protein ingredients market is set to witness a CAGR of over 3% owing to rising consumption of non-vegetarian food products. The Middle East & Africa market will also witness a CAGR of over 3.5% during the projected timeframe. Aquaculture is likely to exhibit a CAGR of around 5% CAGR owing to rising fish consumption globally. Pet food registered a market share of over 2.5% in 2019 due to increasing pet adoption trends.

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Global pet food ingredients market to record 6.6% CAGR through 2027 - GlobeNewswire
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