Evolving Pet Trends Boost Global Pet Food Ingredients Market to USD 47.4 Billion by 2028

/EIN News/ -- Delray Beach, FL, Feb. 18, 2025 (GLOBE NEWSWIRE) -- The global pet food ingredients market was valued at USD 34.2 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.8%, reaching USD 47.4 billion by 2028. The willingness of pet owners to invest more in premium and specialty pet foods featuring high-quality and innovative ingredients is driving the market's expansion. This inclination towards premiumization has encouraged manufacturers to explore new avenues for ingredient formulations. Additionally, the global trend of increasing pet ownership, particularly in urban areas, plays a significant role in fueling the demand for diverse and high-quality pet food ingredients.

Emerging Opportunity: Incorporation of Cannabis in Pet Food

One notable opportunity within the pet food ingredients market is the use of cannabis-derived ingredients, particularly cannabidiol (CBD) from hemp. CBD has garnered attention for its potential therapeutic benefits for pets. As pet owners increasingly 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 offer calming and anti-inflammatory properties, which can be beneficial for pets dealing with anxiety, stress, or specific health conditions. As regulatory landscapes evolve and the acceptance of CBD expands across regions, manufacturers have the opportunity to develop innovative pet food formulations that cater to a market segment seeking alternative and natural solutions for their pets' well-being. As consumers become more educated about the benefits of CBD, the demand for pet food containing cannabis-derived ingredients is likely to rise, reflecting the broader shift toward health-conscious and natural pet products.

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Asia Pacific: Fastest Growing Market Region

The Asia Pacific region is projected to experience the fastest growth in the pet food ingredients market in terms of value. Several key factors are driving this robust growth:

• Rising Demand for Premium Ingredients: There is a growing preference for premium and nutritionally advanced pet food ingredients.
• Cultural Shift Toward Pet Humanization: Pet owners in the region increasingly seek high-quality ingredients that mirror their dietary preferences.
• Growing Awareness of Pet Health: Increased emphasis on pet health and nutrition is driving demand for specialized and natural ingredients.

According to Alltech data, the region’s pet food production rose by 1.65% in 2022, reaching 2.48 million tons, up from 2.27 million tons in 2021. This growth reflects the broader global movement toward all-natural and sustainably sourced pet food options.

Market Segment Insights

By Form: Dry Ingredients Lead Growth

Dry ingredients are estimated to grow at the highest rate within the pet food ingredients market. The convenience and longer shelf life of dry pet food make it popular among pet owners. Additionally, the affordability and ease of storage contribute to its widespread adoption. Dry pet food’s versatility and suitability for various pet types and dietary needs further bolster its market growth. The rising demand for convenient and cost-effective pet nutrition solutions continues to propel this segment.

By Meat & Meat Products: Deboned Meat Dominates

Deboned meat accounted for the largest share of the market in 2022 in terms of value. Pet owners increasingly prioritize premium nutrition, and deboned beef is known for its high-quality protein content, essential for overall pet health. Deboned meat addresses concerns about food sensitivities as a single-source protein option, making it beneficial for pets with allergies. It also provides essential amino acids for muscle development and is highly digestible, ensuring pets can absorb and utilize the nutrients efficiently.

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By Pet: Cat Food Ingredients See Rapid Growth

Cat food ingredients are estimated to grow at the highest rate. The rise in cat ownership has driven demand for specialized and high-quality cat food components. Pet owners prioritize ingredients that reflect human dietary preferences, such as natural and nutrient-rich components. Increased awareness of cat health and nutrition is pushing consumers toward cat food options with premium ingredients, contributing to the rapid growth of this segment.

The pet food ingredients industry is on a growth trajectory, driven by evolving consumer preferences, increasing pet ownership, and a shift toward premium and natural ingredients. Opportunities such as the incorporation of CBD in pet food and the rapid expansion of the Asia Pacific market underscore the dynamic nature of this industry. As manufacturers innovate to meet changing consumer demands, the market is set to achieve significant growth in the coming years.

Top Pet Food Ingredients Leaders

• 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)

Parallel Markets

• Feed Additives Market
• Specialty Feed Additives Market
• Probiotics in Animal Feed Market
• Aquafeed Market
• Yeast Ingredients Market

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