The Market for Pet Food Ingredients is Projected to Reach USD 37.3 Billion by 2020
DUBLIN, Aug. 25, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/8rp5cz/pet_food) has announced the addition of the "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 " report to their offering.
Pet food ingredients are used to improve the quality of pet food. They are used in various pet food products to improve animal health and performance. Due to positive impacts of pet food ingredients on nutrition and health of pets, these products are gaining importance globally.
The segmentation of the pet food ingredients market is based on the sources of pet food ingredients. The study considers animal derivatives, plant derivatives, additives in this research report. The market is further segmented on the basis of animals which include dog, cat, bird, fish, and others.
The market is driven by factors such as increase in global pet population, improvement in distribution network worldwide, increase in trend of pet humanization, pet acquisition and pet adoption, and benefits of pet food ingredients in increasing the palatability of pet food. The Asia-Pacific market is expected to have the highest CAGR compared to the other regions during the analysis period. Increase in income and increase in the awareness of the benefits of quality pet food has resulted in the growth of the pet food market in the Asia-Pacific region. With increase in pet ownership due to urbanization, the consumption of pet food is expected to increase in this region. The market in North America dominated the pet food ingredients market with a market share of 38% in 2014, due to the rise in the trend of pet humanization which has resulted in and increase in demand of pet food products.
The market for pet food ingredients is projected to reach USD 37.3 Billion by 2020, with increasing use of pet food ingredients in manufacturing pet food and rising opportunities in emerging markets such as Japan, India, China, and Brazil. In 2014, the North American region was the largest market for pet food ingredients. The market in the Asia-Pacific region is projected to grow at a CAGR of 5.2% from 2015 to 2020.
The key players in this market are BASF SE (Germany), Archer Daniels Midland Company (U.S.), E.I. du Pont de Nemours and Company (U.S.), Koninklijke DSM N.V (The Netherlands), Ingredion Incorporated (U.S.). The pet food ingredients market is emerging with key market players driving the growth with new product developments, expansions, acquisitions, and investments to develop their position in the pet food ingredients market. The market is competitive with the leading players being involved in the research & development of various pet food ingredients products to bring sustainability. Other players such as Chr. Holdings A/S (Denmark), Omega Protein Corporation (U.S.), The Scoular Company (U.S.), Roquette Freres (France), Darling Ingredients Inc. (U.S.), and John Pointon & Sons Ltd. (U.K.) are also expanding their presence in the market.
Key Topics Covered:
- Introduction- Research Methodology- Executive Summary- Premium Insights- Market Overview- Industry Trends- Pet Food Ingredients Market, By Source- Pet Food Ingredients Market, By Animal- Pet Food Ingredients Market, By Form- Pet Food Ingredients Market, By Region- Competitive Landscape- Company Profiles (Company At A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)
For more information visit http://www.researchandmarkets.com/research/8rp5cz/pet_food
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