Pet Food Ingredients Market Worth USD 37.3 Billion USD by 2020

Aug 18, 2015, 12:00 ET from MarketsandMarkets

CHICAGO, August 18, 2015 /PRNewswire/ --

The report "Pet Food Ingredients Market by Source (Animal Derivatives, Plant Derivatives & Additives), Form (Wet & Dry), Animal (Dog, Cat, Bird, Fish & Others), & by Region - Global Trends and Forecasts to 2020", published by MarketsandMarkets, The Pet Food Ingredients Market was valued at USD 28.6 Billion in 2014 and is projected to reach USD 37.3 Billion by 2020, at a CAGR of 4.5% from 2015 to 2020.

Browse 66 Tables and 63 Figures spread through 179 Pages and in-depth TOC on "Pet Food Ingredients Market"

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The market report analyses the Pet Food Ingredients Market, which is segmented based on source, form, animal, and region. The report includes a detailed analysis of driving and restraining factors opportunities and challenges of the market. The market has been segmented on the basis of the key regions - North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

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The Pet Food Ingredients Market was valued at USD 28.6 Billion in 2014 and is projected to reach USD 37.3 Billion by 2020, at a CAGR of 4.5% from 2015 to 2020. Animal derivatives segment dominated the Pet Food Ingredients Market and accounted a share of 48.7% in 2014.

The driving factors for the Pet Food Ingredients Market are increase in global pet population, improvement in distribution network all over the world, increase in trend of pet humanization, pet adoption and pet acquisition, and increase in palatability of pet food. These factors provide opportunities for emerging market players. Different regulatory structures and scarcity of raw materials are the major restraining factors for the market. A major challenge for the industry players of the market is the lack of acceptance of pet food in under-developed countries due to low capita income.

The global Pet Food Ingredients Market is segmented on the basis of animals. The animals considered for this report are dog, cat, bird, fish, and others. By animal, the dog segment dominated Pet Food Ingredients Market and accounted a share of 35% in 2014 and is projected to reach USD 13.0 Billion in 2020.

The Pet Food Ingredients Market is highly fragmented with key market players driving the growth with expansions &investments, merger & acquisitions to develop their position in the Pet Food Ingredients Market. The market is competitive with leading players being involved in the research & development of various innovative pet food products to attain majority market share. The key players in this market are BASF SE (Germany), Archer Daniels and Midland Company (U.S.), E.I. du Pont de Nemours and Company (U.S.), Koninklijke DSM N.V (The Netherlands), Ingredion Incorporated (U.S.).

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