Gurgaon Samachar

MarketsandMarkets™

According to MarketsandMarkets, the global pet food ingredients market is projected to reach USD 47.4 billion by 2028 from USD 34.2 billion by 2023, at a CAGR of 6.8% during the forecast period in terms of value. There is a willingness among pet owners to invest more in premium and specialty pet foods that incorporate high-quality and innovative ingredients. This inclination towards premiumization is driving manufacturers to explore new avenues in their ingredient formulations. The increasing global trend of pet ownership, particularly in urban settings, plays a pivotal role as more individuals embrace pets in their households. This surge in pet ownership is directly contributing to the heightened demand for pet food, consequently fueling the increased need for diverse and quality pet food ingredients.

Pet Food Ingredients Market Trends

1. Demand for Natural Ingredients: Pet owners increasingly prefer pet foods made with natural, minimally processed ingredients. This trend aligns with the broader consumer preference for natural and organic products.

2. Functional Ingredients: There’s a growing interest in pet foods containing functional ingredients, such as probiotics, prebiotics, antioxidants, and omega-3 fatty acids. These ingredients are believed to offer health benefits beyond basic nutrition, such as improved digestion, joint health, and skin/coat health.

3. Alternative Proteins: With concerns about sustainability and animal welfare, there’s a rising interest in alternative protein sources for pet foods. This includes proteins sourced from plants (e.g., peas, lentils, chickpeas) and novel proteins like insect meal and lab-grown meat.

4. Grain-Free and Limited Ingredient Diets: Some pet owners seek grain-free options or limited ingredient diets for their pets, driven by concerns about food allergies and sensitivities. However, it’s worth noting that the FDA has issued warnings regarding a potential link between certain grain-free diets and canine dilated cardiomyopathy (DCM).

5. Transparency and Traceability: Consumers are increasingly demanding transparency regarding the sourcing and production of pet food ingredients. They want to know where ingredients come from, how they’re processed, and whether they meet certain quality and safety standards.

6. Customization and Personalization: Similar to trends in human nutrition, there’s a growing interest in customized and personalized pet food options. Companies are exploring ways to tailor pet food formulations to meet the specific dietary needs and preferences of individual pets.

7. Sustainable and Ethical Sourcing: Pet owners are becoming more conscious of the environmental and ethical implications of pet food production. They’re looking for brands that prioritize sustainable sourcing practices, minimize waste, and adhere to ethical standards throughout the supply chain.

Pet Food Ingredients Market Opportunities: Use of cannabis in pet food

The incorporation of cannabis in pet food presents a notable opportunity for the pet food ingredients market. Cannabis, specifically cannabidiol (CBD) derived from hemp, has gained attention for its potential therapeutic benefits for pets. As more pet owners seek natural and holistic approaches to pet health, the inclusion of CBD in pet food aligns with the growing trend toward wellness-focused products. CBD is believed to have calming and anti-inflammatory properties, which can be beneficial for pets dealing with anxiety, stress, or certain health conditions. The increasing acceptance of CBD in various regions, along with changing regulatory landscapes, opens up avenues for the development of innovative pet food formulations.

This opportunity allows manufacturers to cater to a growing market segment seeking alternative and natural solutions for their pets’ well-being. As consumers become more educated about the potential benefits of CBD, the demand for pet food containing cannabis-derived ingredients is likely to rise. This trend not only aligns with the preferences of pet owners but also reflects the broader shift toward health-conscious and natural pet products.

North America to dominate the pet food ingredients market during the forecast period.

North America boasts a mature pet food industry characterized by a multitude of well-established manufacturers and distributors. This robust infrastructure streamlines the sourcing and production of a wide array of pet food ingredients. The proliferation of e-commerce has significantly enhanced accessibility for pet owners in North America, providing them with convenient access to a diverse selection of pet food options, including those featuring unique or specialized ingredients. This enhanced convenience contributes to a growing demand for a broad range of pet food ingredients. Additionally, the region’s large and efficient manufacturing facilities enable economies of scale in ingredient production, enhancing cost-effectiveness and further solidifying North America’s dominance in the pet food ingredients market.

The meat & meat products segment dominated the market in North America owing to their demand in the region. Meat sources serve as an excellent source of amino acids and fatty acids, along with being a rich source of vitamins and minerals. They boost the immune system of the pet animals, along with supporting their overall growth and development. Meat & meat products also enhance the palatability of pet foods, due to which they have a higher acceptance than other pet food ingredients. Since people in North America are well aware of the benefits of meat and meat products for pet health, their demand for them is high in the region.

Top Companies in the Pet Food Ingredients Market

The key players in this market include BASF SE (Germany), Darling Ingredients Inc (US), Cargill, Incorporated (US), Ingredion (US), DSM (Netherlands), Omega Protein Corporation (US), ADM (US), Kemin Industries, Inc (US), Chr. Hansen Holding A/S (Denmark), Roquette Frères (France), The Scoular Company (US), Symrise (Germany), Mowi (Norway), Lallemand Inc (Canada), and Phileo by Lesaffre (France). These market participants are emphasizing the expansion of their footprint via agreements and partnerships. They maintain a robust presence in North America, Asia Pacific, South America, RoW, and Europe, supported by manufacturing facilities and well-established distribution networks spanning across these regions.

Other noticeable players also include 3D Corporate Solutions (US), Hydrite Chemical (US), AFB International (US), Gillco Ingredients (US), SARIA International GmbH (Germany), Green Source Organics (US), Biorigin (Brazil), Zinpro (US), APS Phoenix LLC (US), LaBudde Group Inc (US), FoodSafe Technologies (US), DuPont Nutrition & Health (US), and Eurotec Nutrition Group (Thailand).

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BASF SE (Germany)

BASF SE is a prominent player in the pet food ingredients industry, boasting diversified business segments such as nutrition & care, materials, chemicals, agricultural solutions, industrial solutions, and surface technologies. Within these sectors, the company offers a comprehensive range of products including intermediate chemical products, monomers, petrochemicals, dispersions & pigments, care chemicals, nutrition & health, paper chemicals, performance chemicals, catalysts, construction chemicals, coatings, performance materials, and crop protection products. Notably, its animal nutrition unit focuses on delivering pet food ingredients. BASF SE maintains a robust global presence, operating in over 90 countries through subsidiaries and joint ventures. With six integrated production sites and an additional 355 production sites distributed across Europe, Asia, Australia, the Americas, and Africa, the company demonstrates its commitment to delivering a diverse portfolio of products and solutions on a global scale.

In March 2023, BASF and Cargill announced a new partnership, extending their existing feed enzyme development and distribution agreement to the US. The partnership aims to bring innovative enzyme-based solutions to the market, generating value for animal feed customers. The partnership will combine BASF’s enzyme research and development strengths with Cargill’s application expertise, forming a joint innovation pipeline for animal protein producers. The goal is to deliver solutions that address productivity, sustainability, and cost challenges for US customers. The partnership builds upon successful collaborations across Argentina, Brazil, Mexico, Portugal, Spain, the Middle East, and Africa.

Darling Ingredients (US)

Darling Ingredients is a key player in the pet food ingredients market, serving the agri-food industry with sustainable solutions to reduce food waste. The company specializes in collecting and repurposing animal-based co-products and other natural materials. Darling Ingredients offers a range of products related to the pet food industry. Their product portfolio includes collagen, edible fats, feed-grade fats, animal proteins and meals, plasma, and pet food ingredients. It holds a prominent position in providing compliant, natural wet and dry pet food solutions. They are known for supplying customized ingredients for pet food, addressing the evolving demands of the pet food market.

Darling Ingredients operates globally, with a presence in North America, Europe, Asia Pacific, and South America and 200 processing plants. In August 2022, Darling Ingredients acquired Brazil’s largest independent rendering company, FASA Group, for approximately USD 542.6 million. The acquisition, which was announced in May 2022, allows Darling Ingredients to process over 1.3 million metric tons annually. FASA Group is a well-run business that is accretive and provides an additional source of non-food-based, low-carbon waste fats for renewable diesel and sustainable aviation fuel production. Brazil is a prime location for Darling Ingredients’ specialty ingredients business growth.

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Cargill, Incorporated (US)

Cargill, Incorporated, a global supply chain partner, plays a significant role in the pet food ingredients market. The company, known for its diverse services in food, agriculture, financial, and industrial products, is deeply involved in the pet food industry. Cargill collaborates with farmers, originating, sourcing, transporting, and processing commodities into branded food, feed, fuel, and bioindustrials. In the pet food ingredients sector, Cargill offers a range of products, contributing to the global pet food market’s growth. The company’s global presence and commitment to sustainable nutrition solutions link farmers to markets and connect customers worldwide. Cargill’s involvement in the pet food ingredients market positions it as a key player with a broad portfolio catering to the evolving demands of the industry. With operations spanning across North America, Europe, South America, the Middle East, and Asia Pacific, Cargill, Incorporated primarily concentrates its sales efforts in Europe, North America, and Asia.

In 2021, Cargill introduced The Chompery, a new brand of butcher-quality dog treats. The Chompery is all-natural, single-ingredient, and sourced and produced in the U.S., offering products for various purposes such as long-lasting entertainment, rewards, and training. The Chompery bones, ribs, windpipes, and jerkies cater to functional, entertainment, training, and bonding purposes. Dog owners are focused on sourcing and ingredients, with over half of them seeking treats made in the U.S. and “easily digestible” and “natural” being key product claims. The Chompery treats address consumer concerns about pet health and origin and are available in the meat aisle at grocery stores across the U.S. and Canada. The launch coincides with rising demand for pet treats in the U.S., as pet owners seek solutions to keep their pets occupied while working from home. A Cargill survey found that 90% of dog owners reported spending the same or more on their pets than before the pandemic.

Pet Food Ingredients Industry News

1. In June 2023, DSM has enhanced its premix capabilities in North America with the construction of a cutting-edge premix plant in Tonganoxie, Kansas. Positioned strategically in the central part of the U.S., near the core of pet food manufacturing in the country, this new plant is expected to commence operations in 2025.

2. In May 2022, Darling Ingredients Inc has completed the acquisition of all shares of Valley Proteins, Inc. for an estimated USD 1.1 billion in cash. Valley Proteins oversees 18 significant rendering and used cooking oil facilities situated across the southern, southeast, and mid-Atlantic regions of the United States. With a workforce of 1,900 employees and a fleet of 550 vehicles, Valley Proteins is a notable player in the rendering and recycling industry.

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