$45 Billion Pet Food Ingredient Market by Ingredient, Source, Pet, Form & Region - Global Forecast to 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 16, 2018--The “Pet Food Ingredient Market by Ingredient (Cereals, Meat & Meat Products, Vegetables, Fruits, Fats, and Additives), Source (Animal-based, Plant-based, and Synthetic), Pet (Dog, Cat, and Fish), Form (Dry and Liquid) & Region - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The pet food ingredients market is estimated at USD 34.96 billion in 2018, and is projected to reach a value of USD 45.44 billion by 2023, growing at a CAGR of 5.4%
The market is primarily driven by factors such as increasing pet population and pet adoption. Another growth factor can be the increasing trend of pet humanization and rising focus on improving the palatability of pet food. However, limited availability of ingredients and their price sensitivity are few factors that are expected to restrict the growth of the pet food ingredients market in the long run. Vitamins and several other pet food ingredients face challenges related to raw material availability, resulting in a price increase. This high price stands to be one of the biggest limitations for the growth in the sales of pet food ingredients.
North America dominated the pet food ingredients market in 2017 and is projected to grow at a steady rate over the next six years. The region is characterized by matured markets for pet food ingredients such as the US. Factors such as growth in the 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 US market is characterized by the established pet food industry and the largest pet population and pet ownership; these factors support the growth of the pet food ingredients market.
The key players profiled in this report are as follows:Archer Daniels Midland Company (US) Koninklijke DSM N.V. (Netherlands) Cargill, Incorporated (US) BASF SE (Germany) Ingredion Incorporated (US) Roquette Frres (France) SunOpta (Canada) Darling Ingredients Inc. (US) Omega Protein Corporation (US) DowDuPont Inc. (US) Kemin Industries, Inc. (US) InVivo (France) John Pointon & Sons Ltd. (UK).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Pet Food Ingredients Market, By Ingredient
7 Pet Food Ingredients Market, By Pet
8 Pet Food Ingredients Market, By Form
9 Pet Food Ingredients Market, By Source
10 Pet Food Ingredients Market, By Region
11 Competitive Landscape
12 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/h54d48/45_billion_pet?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180516006160/en/
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Related Topics:Pet Food
INDUSTRY KEYWORD: CONSUMER PETS
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 05/16/2018 01:01 PM/DISC: 05/16/2018 01:01 PM