Pet food is a specialized diet designed to fulfill the nutritional needs of domesticated animals. Meat, meat byproducts, cereals, grains, vitamins, and minerals are the typical ingredients in pet food. Meat, poultry, and seafood byproducts, feed grains, and soy meal make up the majority of pet food ingredients. Domesticated animals, euthanized companion animals, and horses are among the animals used for rendering. In the 1990s, the National Animal Control Association estimated that roughly 5 million animals were transported to rendering plants and recycled into pet food. They are typically referred to as meat or bone meal on ingredient lists.
Parts of damaged carcasses, bones, cheek meat, and organs including intestines, kidneys, liver, lungs, udders, spleen, and stomach tissue may be used as pet food. Cereal grains, such as soybean meal, cornmeal, cracked wheat, and barley, are frequently used to improve the consistency of the product and lower the cost of the raw materials. Blood, water, and meat broth are examples of liquid ingredients. Artificial flavors are not used in general, although certain candies may contain smoke or bacon flavors. Manufacturers commonly add vitamins and minerals to pet food.
Over time, the proportion of vegetable and grain ingredients in pet foods has increased dramatically. It is anticipated that the meat used in the first commercial pet foods will be replaced with plant-based ingredients. 64% of pet foods containing meat as the first ingredient have multiple protein sources, with chicken being the most prevalent option.
Pet food options are available for various breeds, sizes, ingredient preferences, disease conditions, life stages, and price points. Unlike service animals, companion animals have specific dietary requirements, such as pre-formed vitamin A and amino sulfone taurine in cat food, and arginine in both cat and dog food, according to studies on pet nutrition. Emerging knowledge of the nutritional benefits of minerals, dietary fiber, carotenoids, and omega-3 fatty acids and the significance of meat fats and proteins in optimal pet nutrition are the primary factors currently being evaluated in the Pet Food Ingredients Market.
Growth in Pet Population and Demand for High Protein Content Food to Drive the Market of Pet Food Ingredients
There is a growing trend of staying single or childless for longer durations, which has led to a rise in the adoption of companion animals. This trend is most prevalent in Europe and the United States, but emerging economies such as India and China quickly adapt. Hence, there is apparent demand for nutritious and healthy pet food, which is expected to propel the market.
As dogs, fish, cats, and birds have become increasingly popular as household pets, the pet food industry has exploded. The number of pets is expected to increase at the same rate over the next four years, creating market opportunities for companies that produce pet food ingredients. As more cats and dogs are adopted, there is a greater demand for pet medications, food, and accessories.
Increasing attachment to pets due to rising livelihoods and the cultural shift toward adopting pets as companions are also expected to drive the pet food market. Numerous scientific studies indicate that pets also serve as stress relievers. This is another primary contributor to the rising household adaptation of pets, driving the demand for pet food and the ingredient market.
The pet food's ingredients are abundant in high-quality protein and omega-3 fatty acids. When added to food, these substances increase the nutritional value of the feed and provide benefits such as increased growth rate, increased protein digestibility, enhanced feed conversion, enhanced immune system, and decreased mortality of aquatic species. Thus, it is anticipated that raising awareness among pet food manufacturers of the nutritional benefits of protein-rich ingredients will increase the supply of these ingredients.
Increasing consumer awareness of the significance of consuming foods with high nutritional value has led to increased protein demand. As the number of consumers in the Asia-Pacific region has grown, so has the demand for protein derived from animals (including fish). This is envisioned to raise the demand for fish and fish products, thereby driving the market for fish-based pet food ingredients over the forecast period.
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To curb the spread of the COVID-19 pandemic, the government-imposed regulations slowed the economy, halted production, slowed the development of projects, and required market participants to cease operations. The government imposed social distance regulations that restricted the mobility and output of the labor force. As a result, the pandemic negatively impacted the supply chains of the pet food industry.
Due to the prohibition on the transportation of raw materials, the pet food industry initially encountered supply and cash flow difficulties. However, during the lockdown, the demand for pet food steadily increased in many world regions as more people adopted pets out of a desire for companionship. To meet this demand, market participants have shifted their focus from physical stores to e-commerce platforms by investing more in developing their own websites.
Nonetheless, as pet ownership increased during the pandemic, the market for pet food expanded. To meet demand and supply, producers of pet food increased production. After the lockdowns were lifted, pet food manufacturers and suppliers resumed large-scale operations, resulting in an expansion of the market.
The Asia-Pacific region will have the largest market share for pet ingredient products. The area will account for approximately 35% of the regional market during the forecast period. Expanding population, rising disposable income, and a regional humanization trend have emerged as the primary factors driving up pet care expenditures. The market is shifting from mass-market to premium products as consumer preferences for natural products increase.
Due to the entry of new market participants, prices for pet food in Asia-Pacific nations are likely to decrease. In developing nations like the Philippines and Malaysia, price wars between key players and the introduction of value products expand the consumer base by making products more affordable, thereby increasing the number of consumers. In contrast, developed nations such as South Korea and Japan adopt a premium pricing and offering strategy as the norm.
North America's share will reach USD 49.7 billion during the forecast period, expanding at a CAGR of 7.1%. The regional demand for pet food ingredients is primarily driven by the increasing awareness of the positive impact on pet health and the rising trend of humanizing pets. Due to a well-established pet food industry and a high percentage of pet ownership, the United States has become the leading market for pet food ingredients in North America. Regarding populations of cats, dogs, and fish, the country ranks among the top five in the world.
In the coming years, Canada, the second-largest market in North America for pet food ingredients, is anticipated to record a significant growth rate. According to the Canadian Animal Health Institute, Canada has 8.3 million cats and 8.3 million dogs. Premiumization and product differentiation are the two most significant factors influencing the growth of the pet food industry in the region.
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