Growing Demand for Nutritious Pet Food Ingredients to Drive Market Growth
Pet food ingredients are the various components that are used to make pet food. These ingredients can include proteins, carbohydrates, fats, vitamins, minerals, and other additives that are necessary for a complete and balanced diet for pets.
Protein sources can come from animal-based ingredients such as chicken, beef, fish, and eggs, or plant-based sources such as peas, lentils, and soybeans....
What Makes Pet Food Ingredients Market a Billion Dollar Industry?
The pet food ingredients market is estimated to be valued at USD 37.0 billion in 2019 and is projected to reach USD 54.3 billion by 2025, at a CAGR of 6.6% from 2019 to 2025. Factors such as rise in the disposable income of the middle-class population has led to an increase in the spending capacity on pets. Pets are treated as companions to the owners, and increasing health concerns of...
Rising Pet Population and Ownership to drive the Growth of Pet Food Ingredients Market over the Coming Years
Pet food industry has witnessed a rapid growth over a passage of time, mainly due to the rising adoption of pets across the globe. This has led to an increased demand for quality pet food, thus helping to improve their overall health.
Market overview
The global pet food ingredients market which was valued at USD 34.96 Billion in 2018 is projected to reach a value of USD 45.44 Billion by 2023, growing...