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/EIN News/ -- DUBAI, United Arab Emirates, Feb. 23, 2022 (GLOBE NEWSWIRE) -- The global pet food ingredients market is anticipated to be worth USD 20,499.19 Mn by the end of 2032 growing at a CAGR of 5.4% over the forecast period of 2022-2032.

This growth is attributed to the current trend observed among consumers, especially the younger generation on animal humanization and pet culture. This has resulted in consumers being willing to pay premium prices on nutritional food for their four-legged friends. This has subsequently helped in boosting the sales of pet food ingredients globally.

Moreover, cultural changes have influenced the rise in pet ownership are becoming increasingly popular among customers particularly among millennials and generation Z to some extent as they intend to depend on these pets for emotional support. As a result, households with younger members have a larger inclination towards pet ownership, making them an attractive demographic for the pet food industry.

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Increasing consumer awareness regarding organic pet food ingredients has grabbed the attention of manufacturers and hence there is a shift of focus from artificial to natural ingredients which have acted as one of the major forces impacting the global market.

Key Takeaways from Market Study

“Manufacturers in pet food ingredients market are currently focusing on organic market strategies such as new product innovations and launches to attract new customers and subsequently earn higher revenues globally” says a Future Market Insights analyst.

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Top players in the pet food ingredients are majorly investing in the research & development of nutritious pet food ingredients along with enhancing the quality of their products. These manufacturers are constantly updating their product lines with new launches keeping in mind the requirements of a healthy diet for an animal.

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Future Market Insights, in its new report, offers an impartial analysis of the global pet food ingredient market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

The study offers compelling insights based on ingredient type (starches (maize/corn, tapioca, potato, wheat, rice, whole grains, fruits and vegetables and seeds and legumes), dietary fibre (wheat, rice, bran, potato, legumes, oats, inulin and nuts and chicory root), fruit ingredients (apple, cranberry, blueberry and other fruit ingredients), protein, sugar, fructo-oligosaccharides, mannan-oligosaccharide, sorbitol. propylene glycol and glycerol), animal type (dogs and cats), nature (organic and conventional), and product type (wet food, dry food, treats and chews and other product types (frozen food, raw food, etc.)), across seven major regions of the world.

Explore FMI’s Extensive ongoing Coverage on Food and Beverage Domain

Fish Based Pet Food Market: The fish based pet food market was valued at US$ 10.0 Bn in 2022, exhibiting growth at a CAGR of 4.9% during the forecast period (2022-2032)

Dehydrated Pet Food Market : The global dehydrated pet food market is projected to reach US$ 8.6 Bn, registering a CAGR of 4.9% during the forecast period (2022-2032)

Pet Milk Replacers Market : As per a recent market analysis by Future Market Insights (FMI), the global pet milk replacers market reached US$ 192.7 Mn in 2021

Grain-Free Pet Food Market: Grain-Free Pet Food Market - Global Industry Analysis 2014 - 2018 and Opportunity Assessment; 2019 - 2029

Plant-based Pet Food Market : As per Future Market Insights (FMI), plant-based pet food sales are expected to surge at 9.2% CAGR between 2021 and 2031

PET Food Trays Market: PET Food Trays Market: Global Industry Analysis 2013 - 2017 and Opportunity Assessment; 2018 – 2028

Pet Food Processing Market: The global pet food processing market size is estimated to be valued at USD 5.0 Billion in 2022 and projected to reach USD 8.4 Billion by 2032

Insoluble Dietary Fibre Market: The global Insoluble dietary fibers market is predicted to grow from USD 2 Bn in 2021 to USD 2.9 Bn by 2027, expanding at a CAGR of around 6.4%

Grape Seed Extract Grape Seed Extract in Pet Food Application Market By Nature (Organic, Conventional), Animal Type (Cat, Dog, Birds, Horse, Rabbits), Product Type (Wet Food, Dry Food, Treats and Chews, Frozen) & Region - Forecast to 2021 - 2031

Spirulina Extracts Market  Sales of spirulina extract are expected to grow steadily, reaching a total valuation of US$ 42, Mn in 2021. Demand for spirulina extract is expected to grow at a 14.6% CAGR over the assessment period

About Future Market Insights (FMI) 

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers. 

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Press Release Source: https://www.futuremarketinsights.com/press-release/pet-food-ingredients-market

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