The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Pet Food Ingredients Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.

In-Depth Market Overview of Pet Food Ingredients Industry (2024-2030):

According to the latest report, The Pet Food Ingredients Market size was valued at around USD 32.12 billion in 2023 and is projected to grow at a CAGR of around 7.1% during the forecast period, i.e., 2024-30. The report demonstrates the prominent factors propelling the exponential growth of the Pet Food Ingredients industry.

Key Takeaways: Beneficial for Stakeholders and Clients:

• Historical Data: 2019-22
• Base Year: 2023
• Forecast Period: 2024-30
• CAGR (2024-2030): 7.1%
• Market Value (2023): USD 32.12 Billion

What are the major Driver the Pet Food Ingredients industry?

Rising Pet Ownership Driving Market Growth – The Global Pet Food Ingredients Market is developing at a rapid pace because of increased pet ownership. Most families around the world have pets, augmenting demand for top-rate pet meals that satisfy the dietary requirements of the pets. Pet owners are increasingly choosing premium, herbal, and special pet food items with top-class ingredients because of their increased recognition of the fitness and well-being of their animals. Pet owners constantly search out products for their animals that can be similar to human dietary necessities and consist of ingredients like excessive protein meats, cereals, vegetables, and useful components that support overall wellness.  Such conduct of pet owners is paving the strong direction for the revenue growth of the Pet Food Ingredients Industry.

Moreover, the requirement for novel and various pet meal components is rising because of the pet meal industry's boom in emerging economies, fueled by increasing disposable incomes and changing lifestyles. To meet the demands of this expanding industry, manufacturers are making investments in the manufacturing and buying of top-rate, sustainable, and nutrient-dense ingredients, that are augmenting the size & volume of the Global Pet Food Ingredients Market.

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Pet Food Ingredients Market Segmentation

The Pet Food Ingredients Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:

• By Pet
• Dog
• Cat
• Fish
• Others (Rabbit, Bird etc.)
• By Form
• Wet
• Dry
• By Ingredients
• Cereals
• Maize
• Barley
• Wheat
• Oats
• Meat & Meat Products
• Animal Meat
• Animal Part & Bone Meal
• Fats
• Animal Fat
• Plant Fat
• Additives
• Vitamin & Minerals
• Flavours
• Antimicrobials
• Others (Antioxidants, Preservatives, etc.)
• By Region
• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific

As per the regional aspect, the Pet Food Ingredients Market is expected to be dominated by North America by capturing the potential market share.

Explore further details about this research report - https://www.marknteladvisors.com/research-library/pet-food-ingredients-market.html

Top Companies in the Pet Food Ingredients Market

Darling Ingredients Inc., Ingredion Incorporated, Omega Protein Corporation, Kemin Industries Inc., Chr. Hansen Holding A/S, Roquette Freres, Sariah A/S GMBH & Co.KG, The Scoular Company, Phileo by Leasaffre, LaBudde Group Inc., Linkone Ingredients Solution, 3D Corporate Solutions, Hydrite Chemicals, Green Source Organics, Vivitiva DOO, AFB International, Symrise AG, Zinpro Corporations, Kerry Group Plc., Foodsafe Technologies

Pet Food Ingredients Industry Recent Development:

In September 2023: In Elven, France, Symrise AG established its pilot plant for dry pet food. The plant has lab research, a palatability performance assessing gadget, and an R&D unit to comprehend the dry pet food production process.

In July 2023: Symrise AG modified the title of its brand of pet-feeding ingredients to "Nuvin." The company provides chicken, eggs, hydrolyzed protein, and other pet health solutions were intended to be strengthened by this.

In June 2023: DSM established a state-of-the-art premix manufacturing facility in Tonganoxie, Kansas, to broaden its premix capabilities in North America. This new manufacturing facility is expected to begin operations in 2025 and is ideally located in the center of the United States, near the hub of the country's pet food manufacturing industry.

In May 2022: All of Valley Proteins, Inc.'s shares were recently acquired by Darling Ingredients Inc. for a projected payment of around USD 1.1 billion. Valley Proteins has been in charge of 18 significant rendering and used cooking oil manufacturing facilities located in the mid-Atlantic, southeast, and southern regions of the United States. Serving the rendering and recycling industries, Valley Proteins employs 1,900 employees and has a fleet of 550 vehicles.

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