The global pet food ingredients market size is expected to reach USD 52.95 billion by 2030, according to a new study by Polaris Market Research. The report “Pet Food Ingredients Market Share, Size, Trends, Industry Analysis Report, By Form (Dry, Wet); By Ingredient; By Source (Animal-based, Plant Derivatives, Synthetic); By Pets (Dogs, Cats, Fish); By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The growing demand for pet food ingredients is due to growing awareness among consumers about the nutritional content required by pets daily, such as omega-3, fatty acids, and antioxidants which are likely to drive market growth. Furthermore, increasing pet health concerns are one of the major factors driving demand.
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In addition, rising disposable income and pet food expenditure on premium meals is expected to support market growth. Furtherly, increasing demand for vegan and organic food supplements has resulted in the development of customized meals, significantly influencing the market growth.
The COVID-19 pandemic had a negative impact on the demand for pet food ingredients; the movement of raw materials was halted, which resulted in the disruption of the supply chain, and the market suffered challenges with cash flow owing to the strict government rules and lockdown worldwide.
Pet Food Ingredients Market Report Highlights
Polaris Market Research has segmented the pet food ingredients market report based on form, ingredient, source, pets, and region:
Pet Food Ingredients, Form Outlook (Revenue - USD Billion, 2018 - 2030)
Pet Food Ingredients, Ingredients Outlook (Revenue - USD Billion, 2018 - 2030)
Pet Food Ingredients, Source Outlook (Revenue - USD Billion, 2018 - 2030)
Pet Food Ingredients, Pets Outlook (Revenue - USD Billion, 2018 - 2030)
Pet Food Ingredients, Regional Outlook (Revenue - USD Billion, 2018 - 2030)