Food & Beverage Market Research News

Pet food ingredients market expected to grow at a steady pace through 2023

Food & Beverage Market Research

The Global Pet Food Ingredients Market is estimated to grow at a CAGR of 3.10% from 2018 to 2023.

GLOBAL PET FOOD INGREDIENTS MARKET Make an Inquiry about this news was valued at USD 31.11 Billion in the year 2017. The humanization of the pet food has increased usage of fruits & vegetables in form of blended premixes.

Further addition of natural colors along with nutraceuticals health ingredients has also bought process & equipment challenges for the manufacturers.

North America region holds the highest market share in 2017. Whereas Asia Pacific region is considered as the fastest growing market in the predicted period.

The U.S. is the major market in 2017 at country level and it is further anticipated to grow at a steady pace in the next 5 years.

Mars Inc. (U.S), Colgate-Palmolive Co. (U.S), Uni-Charm Corp. (Japan), Nestle SA (Switzerland), Total Alimentos SA (Brazil) and Procter & Gamble Co (U.S)are some of the key players in the Global Pet  Food Market.

Acquisitions, collaboration, and development of the innovative product are the main business strategy of the top players to gain market share.

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Drivers

             Surging pet population & rising cases of pet adoption

             Rising pet’s health and safety concern such as nutritional requirement, & energy production

Restraints

             Difficult to stabilize the pet foods naturally without using any synthetic chemicals (e.g. sorbic acid).

             Delivery of Probiotics is a pending issue for pet foods. The lactic acid bacteria quickly die off on the outside of dry pet food, because of its high water activity.

Opportunity

             New protein sources for pet foods such as algae meal, insect meal as well fish proteins from the human food industry pose a strong opportunity.

             Usage of vegetable proteins have helped in meeting pet food nutritional demand

Challenges

             Government regulations such as the introduction of the Food Modernization Safety Act Threats from substitute products

The global pet food industry is segmented based on pet type, food type, and geography. The dog segment holds the highest market share among all other types in pet type segment, in 2017 and is expected to grow at the highest CAGR during the year 2018-2023.

The reason being the adoption of dogs is comparatively higher than other pets globally.

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On the other hand, pet food market by product is further segmented into dry food, Wet/Canned food, Snacks/Treats, Nutritious Food, and Others.

Key Benefits for Stakeholders

Pet food Manufacturers, Distributors, and Retailers

Natural food ingredient manufacturers

Food Processing and Packaging companies

Research and Consulting organization

Technology Standards Organizations, Forums, Alliances and Associations

End-use industries

Regulatory bodies

By Application            

Dog

Cat

Others

By-Products               

Dry food

Wet/Canned food

Snacks/Treats

Nutritious Food

Others

By Region

North America

Europe

Asia-Pacific

RoW

Key Market Players

  1. 1. Mars Inc. (U.S)          
  2. 2. Colgate-Palmolive Co. (U.S)   
  3. 3. Uni-Charm Corp. (Japan)        
  4. 4. Nestle SA (Switzerland)          
  5. 5. Total Alimentos SA (Brazil)
  6. 6. Procter & Gamble Co (U.S)                 
  7. 7. Wellpet LLC (U.S)                  
  8. 8. Blue Buffalo Co., Ltd (U.S)                  
  9. 9. Big Heart Pet Brands (U.S)                 
  10. 10. Diamond Pet Food Inc. (U.S) 

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News From

Genesis Market InsightsGenesis Market Insights
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