Animal and Pet Nutrition Ingredients Market is estimated to be US$ 27.7 billion by 2029 and is anticipated to register a CAGR of 5.1%.

 

Animal And Pet Nutrition Ingredients Market accounted for US$ 17 billion in 2019 and is estimated to be US$ 27.7 billion by 2029 and is anticipated to register a CAGR of 5.1%

The report "Global Animal and Pet Nutrition Ingredients Market, By Form (Dry Pet Food Ingredient and Wet Pet Food Ingredient), By Ingredient (Meat & Meat Products, Cereals, Vegetables, Fats, and Additives), By Pet (Dog, Cat, Fish, and Others), By Source (Animal Derivatives, Plant Derivatives, and Synthetic), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

·         In January 2018, Cargill has reached an agreement to acquire Pro-Pet, an Ohio-based manufacturer of private label and co-manufactured pet foods, including premium dog food brand Black Gold.  The acquisition makes Cargill the only national supplier of both animal feed and pet food offerings in the agricultural retail space.

·         In January 2020, Darling Ingredients Inc. announced that it has acquired the 50% joint venture interest of EnviroFlight, LLC owned by Intrexon Corporation, thereby increasing its ownership interest in EnviroFlight to 100%. EnviroFlight, LLC is a leading developer of proprietary technologies which enable the rearing of non-pathogenic black soldier fly (BSF) larvae in a scalable manner. This innovative and responsible approach has considerable potential within the sizable global animal feed industry as it will provide an environmentally-friendly, toxin-free, sustainable source of high-value nutrients.

Analyst View:

Innovations in turbine technology such as two-bladed turbines, higher capacity wind turbines, modular turbines, and 3D printing have reduced the overall cost of offshore wind power by dropping the operational as well as the initial investment and maintenance (O&M) costs. Additionally, big data analytics and the internet of things (IoT) is another breakthrough technological advancement that is propelling the growth of the global Animal and Pet Nutrition Ingredients market. Moreover, leveraging big data analytics and IoT, real-time monitoring of remote and difficult-to-access offshore locations helps to eliminates unnecessary routine maintenance and maintains accurate predictive activities.

As shallow- and deep-water spots being explored harness the potential for power generation from wind, they are mainly to boost the growth of the floating wind turbines segment in the coming years. Offshore floating turbines are beneficial as compared to fixed structures in terms of the total cost incurred in installation and production. These wind turbines are designed with floating platform to support the entire turbine structure.

Key Market Insights from the report:        

The global animal and pet nutrition ingredients market accounted for US$ 17 billion in 2019 and is estimated to be US$ 27.7 billion by 2029 and is anticipated to register a CAGR of 5.1%. The market report has been segmented on the basis of form, ingredient, pet, source, and region.

·         By form, the dry pet food ingredient segment is expected to grow at a higher CAGR in the coming years owing to the remarkable properties such as low-moisture content, cost-effective nature, and is convenience in terms of storage and feeding of pets.

·         By ingredient, the meat & meat product segment is projected to rise at a rapid CAGR over the forecast period owing to the increasing trend for high protein pet food products globally. The meat product helps in maintain the overall health of the pet and are highly cost-effective.

·         By pet, the dog food ingredient segment is expected to dominate the market throughout the forecast period owing to the rising demand for premium dog products for different nations.

·         By source, the animal derivatives segment is expected to hold the highest market share over the forecast period due to its various advantages such as good source of essential fatty acids, protein, iron and vitamin.

·         By region, the Asia Pacific shared more than 34% revenue emerged for the target market and accounted for the largest regional market in 2018. Rising population, rising disposable income, and increasing humanization trend in the region emerged as the primary propelling factors for influencing the consumer spending on the care of companion animals.

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Competitive Landscape:

The prominent player operating in the global animal and pet nutrition ingredients market includes Cargill, Incorporated, ADM, BASF SE, Chr. Hansen Holding A/S, Roquette Frères, SunOpta, Lallemand, Omega Protein, Nutreco, Saria A/S GmbH & Co. KG, Darling Ingredients Inc., The Scolular Company, Kemin Industries, Inc., and Ingredion Incorporated.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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