A global rise in the pet population, as well as increased ownership of pets supported by pet adoption, has been one of the significant factors that have been increasing the demand for pet food ingredients worldwide. According to the 2017-2018 National Pet Owners Survey conducted by the American Pet Products Association (APPA), “pet ownership stands at 68% of all US households. With the US Census reporting 124.587 million households, the number of pet owning households is 84.6 million.” Therefore, the pet food ingredients industry is constantly evolving to serve the growing pet industry.
The pet food ingredients market was valued at USD 33.27 billion in 2017, and is projected to reach USD 45.44 billion by 2023, at a CAGR of 5.4% from 2018. The key players in this market are BASF SE (Germany), Archer Daniels Midland Company (US), DowDuPont Inc. (US), Cargill, Incorporated (US), and Koninklijke DSM N.V. (Netherlands).
Meat & meat products which are the key and essential source of nutritional requirement, are the largely consumed pet food ingredients
Based on the type of ingredient, the pet food ingredients market is categorized as cereals, vegetables, fruits, fats, meat & meat products, and additives. These segments are further subsegmented into the commonly used ingredients in pet food.
The most commonly used ingredients are the meat products which are obtained from lamb, pork, beef, fish, poultry, and rabbit. The meat segment includes animal by-products such as deboned meats, liver, lungs, heart, kidney, udder, and spleen, which enhance the palatability of pet food and increase the overall acceptability by pets. Meat & meal products form a key source of proteins, which are an essential nutritional requirement in the development of pets. The meat products considered are meat meal, bone meal, and chicken & turkey by-product meal. Meat & meat products also help maintain healthy skin & coat. By-products from swine and chicken are comparatively cost-effective, and thus contribute to the reduced manufacturing cost of pet food.
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Largest pet population and expansions by leading companies are driving the market for pet food ingredients in North America
North America serves as a mature market for the pet food industry. Regulatory bodies such as the USDA and the AAFCO ensure the safety of pet food products. Factors such as growth in trend of pet humanization among pet owners, availability of premium pet food, the introduction of organic pet food products, and awareness about benefits of commercially produced pet food in the North American region have led to increased demand for pet food ingredients. The pet food ingredient market is consolidated in North America and is dominated by a few companies such as DowDuPont, Cargill, and Ingredion.
The key players relied on expansions and investment strategies to sustain in the market
Between September 2012 and March 2018, expansions & investments accounted for 45.8% of all strategic developments adopted by players in the pet food ingredients market. Companies adopted these strategies to utilize the expertise efficiently, enhance their productivity, and introduce their products in new markets. In 2017, ADM expanded its production capabilities by opening a new feed premix plant in Zhangzhou, South China. This has helped the company to expand its animal nutrition business in the Asia Pacific region. In the same year, Roquette Frères made a significant investment for the establishment of a new pea-protein manufacturing facility in Portage la Prairie, Manitoba (Canada). This investment will help the company increase its production capacity and meeting the rising demand for pre-protein.
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