MarketsandMarkets Presents Pet Food Ingredients Market by Ingredient, Source, Pet, Region

The report "Pet Food Ingredient Market by Ingredient (Cereals, Meat & Meat Products, Vegetables, Fruits, Fats, and Additives), Source (Animal-based, Plant- based, and Synthetic), Pet (Dog, Cat, and Fish), Form (Dry and Liquid), and Region - Global Forecast to 2023", The pet food ingredients market is estimated at USD Billion in 2018 and is projected to reach a value of USD Billion by 2023, at a CAGRs of 5.4%. The market is driven by factors such as increasing pet population and pet humanization. The major players in the food industry are investing in research & development activities to develop innovative pet food ingredients, along with engagement in expansion activities of their production facilities and geographic expansion through strategic acquisitions to strengthen their production capabilities and increase their product portfolio.Pet Food Ingredient Market The Asia Pacific region is projected to be the fastest-growing market, owing to the increasing rate of pet adoption by the growing number of nuclear families in countries such as China, India, and Japan. Also, the presence of local pet food ingredient manufacturers who offer pet-food-grade ingredients at the lowest price in developing countries such as China, as compared to other countries in the region, is also one of the driving factors for the growth of the pet food ingredients market in this region. Make an inquiry about this

The key players that are profiled in the report include Archer Daniels Midland Company (US), Koninklijke DSM N.V. (Netherlands), Cargill, Incorporated (US), BASF SE (Germany), Ingredion Incorporated (US), Roquette Frères (France), SunOpta (Canada), Darling Ingredients Inc. (US), Omega Protein Corporation (US), DowDuPont Inc. (US), Kemin Industries, Inc. (US), InVivo (France), and John Pointon & Sons Ltd. (UK). This report is targeted at the existing players in the industry, which include the following: Regulatory and research organizations Raw material producers, suppliers, and distributors Equipment manufacturers, traders, distributors, and dealers Pet food ingredient manufacturers, traders, distributors, and dealers On the basis of the ingredient, the market has been segmented into cereals, meat & meat products, vegetables, fruits, fats, and additives. The meat & meat products segment accounted for the largest share, followed by the cereals segment, in Meat & meat products are obtained at a relatively lower cost, as the majority of these ingredients are byproducts of food products manufactured for human consumption. Thus, it serves as an economical solution for the pet food manufacturers. Along with being cost-effective, meat & meat products enhance the palatability and acceptability of pet food.

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