The global pet food ingredients market is estimated to be valued at USD 37.0 billion in 2018 and is projected to reach USD 54.3 billion by 2025, at a CAGR of 6.6% from 2019 to 2025. The market is driven by factors such as the growing pet adoption rate among the urban population with a substantial improvement in pet food expenditure.
The cat segment is estimated to grow at the highest CAGR as sales of premium cat food are on the rise, and its high cost has not caused any hindrance in the growth of the premium cat food market. The increasing focus of consumers on preventive healthcare is one of the factors driving the demand for expensive and high-quality cat food in the pet food industry. There was a steady rise in the global sales of cat food from 2012 to 2018. The diversification of marketing channels for cat food and increased popularity of organic cat food products are factors that are projected to promote the growth of the cat food market.
By ingredient, the fats segment in the pet food ingredients market is projected to grow at the highest CAGR during the forecast period
Several types of fat ingredients that are used in pet food include poultry fat, beef tallow, lard, bacon fat, and fish oils. Fats form an essential element in pet food. According to a research analysis conducted by Petnet on more than 2,300 dog foods and 1,600 cat foods, 73% of dog foods, and 65% of cat foods contain added fat. Additionally, 60% of dog foods and 45% of cat foods contain an oil additive. Among fats, the vegetable oil and fish oil markets are projected to grow at high rates.
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South America is projected to be the fastest-growing region in the pet food ingredients market due to the increase in export-import of pet food ingredients and growing adoption rate
The South American pet food ingredients market is projected to grow at a steady pace due to the increase in the sale of pet food products in countries such as Brazil. Argentina is the fastest-growing pet food market attributed to increased consumer spending and consumer awareness, despite inflation. The government in the country is also supporting the pet owners and has promoted canine vaccinations and spaying/neutering programs. Nearly 15% of the owners have adopted stray dogs as their pets. Other breeds, such as Poodles, Labradors, and German shepherds are the most popular breeds in the country.
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