In an article petfoodindustry revealed that the global pet food ingredients market is set for substantial growth, projected to rise from $34.2 billion in 2023 to $47.4 billion by 2028, growing at a 6.8% CAGR. This surge is fueled by increased demand for premium and specialty pet foods, driven by urban pet owners seeking high-nutritional options. Five key market factors include:
- Premiumization
Pet owners are prioritizing health-focused, premium food for pets, spurring innovation. - Ingredient Availability
Limited availability and pricing challenges affect supply. - Dominance of Dog Food –
Dogs maintain the largest market share, particularly in growing regions like Asia-Pacific. - Rising Demand for Cat Food
Rapid growth in cat ownership drives demand for nutrient-rich cat food ingredients. - North American Market Leadership
North America leads in production, distribution, and e-commerce accessibility for pet food.