Pet Food Market Share, Revenue, Trends, Scope, Growth Drivers, Challenges and Future Investment Opportunities Till 2033


Pet Food Market Share, Revenue, Trends, Scope, Growth Drivers, Challenges and Future Investment Opportunities Till 2033: SPER Market Research

 Category : Food & Beverages

 Published: Jan-2024
 Author: SPER Analyst

Global Pet Food Ingredients Market is projected to be worth USD 66.76 billion by 2033 and is anticipated to surge at a CAGR of 7.09%.

Pet food is any foodstuff made from plants or animals, such meat that is fed to companion animals. Animal derivatives, grains and oilseeds, fruits and vegetables, minerals, and vitamins are among the substances found in pet food. Vitamins, fibre, protein, carbs, and calcium are all abundant in pet food ingredients. Due to pet owners' rising knowledge of the value of feeding their animal’s wholesome food, there has been a notable growth in the demand for premium pet food products in recent years. Because of this, more luxury pet food products with premium ingredients are being produced.

Global Pet Food Ingredients Market Driving Factors and Challenges
Companion animal adoption has increased due to the trend of people being childless or alone for longer periods of time. Thus, it is expected that a sizable market for wholesome pet food will propel the industry. The pet food market has grown significantly as a result of the increased popularity of dogs, fish, cats, and birds as domestic pets in recent years. Pet food, accessories, and medication are in more demand as more cats and dogs are adopted. Omega-3 fatty acids and high-quality protein are prevalent in pet food ingredients. These compounds, when added to food, boost the feed's nutritional value and offer advantages like accelerated growth, highly digestible protein, and improved feed conversion which improves immune system and a decline in aquatic species extinction.

Many people would rather not own pets due to allergies they have from them. This factor can prevent the pet food industry from growing. Millions of people have a range of allergies and infections all year long, which can be linked to the abundance of indoor allergens like mildew, cockroaches, dust mite droppings, and animal dander. Still, many pet owners suffer from asthma as a result of allergies to dogs and cats. Young children are particularly vulnerable to infections from pets. Tick-borne roundworms, hookworms, and tapeworms are spread via dirty dog or cat fur. These worms can infect neonates and infants and result in serious health issues. Adult skin can be penetrated by hookworm larvae, which can then result in unpleasant, itchy rashes. These elements may eventually affect market expansion.

Impact of COVID-19 on Global Pet Food Ingredients Market  
The global COVID-19 pandemic caused a sharp fall in GDP (gross domestic product) in many countries. Government rules slowed the economy, stopped output, delayed project development, and required market participants to stop operating in order to stop the sickness from spreading. Consequently, it had an impact on the pet food industry's supply chain. Furthermore, the pet food business first encountered supply and cash flow issues as a result of the ban on raw material transit. However, as more individuals adopted pets out of a need for companionship, the demand for pet food grew substantially in many locations during the lockdown. Market players invested more in expanding their websites in order to accommodate this demand, shifting their attention from physical storefronts to e-commerce platforms.

Pet Food Ingredients Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as AFB International, Alltech, Biorigin, DuPont Nutrition & Health, Elanco, Eurotec Nutrition, FoodSafe Technologies, Impextraco Ltda Brazil, Pancosma, Symrise. 

Global Pet Food Ingredients Market Segmentation:

By Ingredients: Based on Ingredients, Global Pet Food Ingredients Market is segmented as Bench top laboratory water purifiers, Central laboratory water purifiers, Portable laboratory water purifiers

By Form: Based on the Form, Global Pet Food Ingredients Market is segmented as Dry & Wet.   

By Pet: Based on the Pet, Global Pet Food Ingredients Market is segmented as Dog, Cat and Fish 

By Nature: Based on the Nature, Global Pet Food Ingredients Market is segmented as Organic & Inorganic   

By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report. 

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