As the pet food industry is evolving, the ingredients used to make pet food are also increasing in sales. The pet food ingredients market is expected to grow to $53.2 billion by 2025, from $38.6 in 2020.
The market is expected to grow by 6.6% during this period.
Although there were problems with shipment during the COVID-19 pandemic, these problems didn’t affect the industry significantly.
Since 2018, more and more people are becoming pet owners, and it’s fueling the ingredients market. Although dogs and cats can eat human food, most owners would rather choose the food suited to their pets’ needs.
Animal-based products are leading the market, and products such as meat, fats, and amino acids are some of the most used ingredients.
There’s also a significant rise in cannabinoid products for pets, such as CBD oils for dogs and cats, and CBD treats too. This is why hemp is one of the most sought-after pet food ingredients.
Since these products fall into the natural ingredient category, pet owners don’t hesitate to buy them.
Moreover, some regulations, such as The Food Safety Modernization Act, are helping natural and safe ingredients have the highest priority.
Additionally, dog food ingredients are the most significant segment of the market. After all, dogs are the most popular pet all around the world, so their food is the most sold.
Dry food is the most sold type due to being easy to use and store.
South America is expected to be the biggest growing market, with Brazil and Argentina being its biggest growing countries in terms of pet food ingredients industry.
Most of the prominent players are US-based, such as Cargill, DuPont, Ingredion Incorporated, and Archer Daniels Midland Company.
These companies are growing with no intention to stop soon, just like the market they represent.