Global Pet Food Ingredients Market Growth to be Pivoted on Growing Pet Population Across the World, says TMR
The unmistakable thrust on healthy pet food will have a lasting impact on the global pet food ingredients market as well, finds a new report by Transparency Market Research. The report is titled, ‘Pet Food Ingredients Market – Global Industry Size, Market Share, Trends, Analysis, and Forecast 2016 – 2024.’ The global pet food industry is currently in a state of healthy growth and thus carries numerous opportunities for the launch of innovative products. The trend of natural and organic pet food, especially, will demand that pet food ingredients manufacturers apply a greater degree of innovation in their products.
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Pet food comprises both plant- and animal-derived ingredients, including but not limited to: fruits and vegetables, oilseeds, grains, meats, minerals, and vitamins. Pet food ingredients need to either entirely provide or supplement pet diets with carbohydrates protein, calcium, and other important types of micronutrients. It may also consist of essential fatty acids such as Omega 6 and Omega 3, both of which help pets maintain a better digestive system and metabolism rate. With the humanization of pets becoming a veritable trend worldwide, there is a growing demand for high-quality pet food that contains fewer synthetic ingredients and flavors.
Based on product type, the report segments the global pet food ingredients market into fruits and vegetables, vitamins and minerals, feed additives and supplements, cereal grains and oils, animal derivatives, and others. The report also studies the market dynamics for pet food ingredients basis type of animal. Segmented thus, the market is divided into: birds, cat, dog, rodent, rabbit, and others. Geographically, the global pet food ingredients market in Europe, North America, Asia Pacific, and Rest of the World is studied in the report.
A steady and unmistakable rise in the pet population across the world has been identified as a leading driver for the growing sales of pet food ingredients. With family sizes shrinking in traditionally large-family centric societies in countries such as India and the Middle East and Africa, more consumers now prefer to keep pets for companionship. However, where proper veterinary care is not available, consumers are hesitant about keeping pets as they can be potential carriers of infections and diseases. However, the impact of this restraint is expected to be alleviated to some extent because of the improving veterinary healthcare infrastructure and greater incomes at the disposal of consumers worldwide.
According to the findings of the report, the growth of the global pet food ingredients market is defined by the animal derivatives segment. The United States has served as the growth engine for the global pet food ingredients market. The key players in the global pet food ingredients market are Colgate-Palmolive Co., Marc Inc., Procter & Gamble Co., Nestle S.A., Nutriara Alimentos Ltda, and Agrolimen SA.