Asia-Pacific Pet Food Ingredients Market by Type (Non-Vegan, Vegan, and Novel Proteins), by Nature (Organic and Inorganic), by Form (Dry and Wet), by Pet Type (Dog, Cat, and Others), and by Distribution Channel (Online and Offline) – Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Retail and Consumer | Publish Date: 22-Nov-2024 | No of Pages: 183 | No. of Tables: 136 | No. of Figures: 101 | Format: PDF | Report Code : RC2837
Asia-Pacific Pet Food Ingredients Market Overview
The Asia-Pacific Pet Food Ingredients Market size was valued at USD 7.88 billion in 2023, and is predicted to reach USD 15.93 billion by 2030, at a CAGR of 10.1% from 2024 to 2030. In terms of volume the market size was 1978.59 kilotons in 2023 and is projected to reach 3255.69 kilotons in 2030, with a CAGR of 7.0% from 2024 to 2030.
The pet food ingredients market refers to the manufacturing and distribution of essential raw materials used in formulating pet foods to provide the nutritional needs of different pet species. These ingredients include proteins, carbohydrates, fats, vitamins, and minerals that are derived from both plant and animal sources. They undergo various processing techniques such as grinding and blending to enhance their nutritional content and flavour.
The use of premium-quality ingredients provides specific dietary needs and health conditions that promotes well-being and development of pets. The companies focus on superior ingredients and transparent supply chains to enhance product quality and improve customer loyalty. Consequently, implementing these practices supports the expansion of the pet food ingredients market, as consumers rely on superior quality options for their pets.
Rising Pet Ownership Drives the Asia-Pacific Pet Food Ingredients Market
The increasing pet ownership fuels the demand for pet food ingredients as consumers prioritize top-quality ingredients for their pets' nutrition. This changing preference not only supports manufacturers' sales but also accelerates them to innovate and broaden their product ranges, thereby strengthening the pet food ingredient market in the region.
According to a report released by the World Animal Foundation in August 2024, 32% of households in Asia-Pacific (APAC) own a dog, while 26% have a cat. This rising trend in pet ownership highlights the need for varied and nutritious pet food ingredients to meet the changing preferences of pet owners.
Expansion in Disposable Income Boosts the Pet Food Ingredients Market
Growing disposable income in the Asia-Pacific region witness significant growth of the market as individuals and families experience higher earnings, they are more willing to invest in premium pet food products that provide enhanced quality and nutrition. This movement indicates an increasing recognition of the importance of pet health, leading manufacturers to include organic and inorganic ingredients that enhance the nutritional profile and health advantages for pets.
The Scarcity of Ingredients Restraints the Market Growth
The limited availability of resources barriers the growth of the pet food ingredient market as with rising demand for premium pet food, shortages of essential ingredients such as meat and specific grains results in shortages and higher production costs. This scarcity not only affects manufacturers' ability to produce high-quality pet food but also forces them to seek alternative and compromise the nutritional value and quality of the final product.
Adoption of Sustainable Protein Sources Creates Growth Opportunity for the Market
The incorporation of sustainable protein sources such as egg-based protein, tofu dregs, black soldier flies, and silkworms is anticipated to create opportunities for the market. These alternatives are increasingly recognized for their high nutritional value and lower environmental impact relative to traditional proteins such as beef and pork.
Egg-based proteins and tofu byproducts not only supply essential nutrients but also contribute to reducing food waste. Additionally, insect proteins including those from black soldier flies and silkworms provide an efficient approach to protein production and offering sustainable alternatives in the pet food ingredients market.
China Holds the Dominant Market Share in Asia-Pacific Pet Food Ingredients Market
The accelerated growth of urbanization is enhancing the pet food ingredient market, as more individuals settle in urban areas, resulting in a rise in pet ownership and an increased demand for convenient, nutritious pet food. According to 2023 data from Evrim Agaci, approximately 58 million pets reside in urban environments.
City dwellers are eager to find high-quality products that satisfy their pets' dietary needs while fitting their busy routines. This trend motivates manufacturers to create innovative pet food formulations and procure premium ingredients that align with the preferences of urban pet owners.
The expansion of disposable income in China allows consumers to allocate funds toward premium pet food products that deliver enhanced nutritional quality. This changing consumer expenditure reflects a stronger commitment to pet health and well-being, resulting in greater demand for high-quality ingredients such as organic, natural, and specialized formulations.
As per the report published by the United Nation Development Programme (UNDP), the annual per capita disposable income in China reached to USD 7,293.71 in urban areas and USD 3,052.97 in rural areas in 2023. The surge in disposable income highlights the growing inclination towards premium pet food options that focus on nutrition and the overall health of pets.
India to Witness Substantial Growth in the Asia-Pacific Pet Food Ingredients Market
The growing pet ownership, fueled by rapid increasing pet population, drives the demand for pet food ingredients among manufacturers. As more households adopt pets, there is a growing requirement for high-quality pet food that fulfils the nutritional needs of these animals. This growth in pet ownership compels manufacturers to focus on sourcing premium ingredients and creating innovative formulations to cater to the changing preferences of pet owners.
This growth in pet ownership compels manufacturers to focus on sourcing premium ingredients and creating innovative formulations to meet the changing preferences of pet owners. According to a report published by the National Library of Medicine in May 2024, India is home to approximately 62 million stray dogs.
This large population of stray dogs accelerates the need for accessible and nutritious pet food options, prompting manufacturers to expand their offerings and invest in high-quality ingredients, thus propelling market growth.
The increasing awareness regarding sustainable pet food ingredients fuels the growth of the pet food ingredient market in India as consumers become more conscious of the ecological effects of their purchases, there is growing demand for pet food products that utilize sustainable and ethically sourced components.
For instance, in May 2024, Loopworm, an agritech startup based in Bangalore makes strides in sustainable protein production by employing silkworms to convert food waste into high-quality nutrients for both animal and pet nutrition. This transition to sustainable pet food alternatives is further accelerating the growth of the pet food ingredient market, aligning with the evolving preferences of environmentally conscious consumers.
Competitive Landscape
The various market players operating in the Asia-Pacific pet food ingredients industry includes Cargill Incorporated, BASF SE, Archer Daniels Midland Company (ADM), Koninklijke DSM N.V., Mowi ASA, Symrise AG, Kemin Industries, Inc., Umayal Pet Foods, Darling Ingredients Inc., Roquette Freres, and others.
Asia-Pacific Pet Food Ingredients Market Key Segments
By Type
-
Non-Vegan
-
Beef
-
Chicken
-
Fish
-
Others
-
-
Vegan
-
Soyabeans
-
Peas
-
Lentils
-
Others
-
-
Novel Proteins
By Nature
-
Organic
-
Inorganic
By Form
-
Dry
-
Wet
By Pet Type
-
Dog
-
Cat
-
Others
By Distribution Channel
-
Online
-
Offline
By Country
-
China
-
Japan
-
India
-
South Korea
-
Australia
-
Indonesia
-
Singapore
-
Taiwan
-
Thailand
-
Rest of Asia-Pacific
KEY PLAYERS
-
Cargill Incorporated
-
BASF SE
-
Archer Daniels Midland Company (ADM)
-
Koninklijke DSM N.V.
-
Mowi ASA
-
Symrise AG
-
Kemin Industries Inc.
-
Umayal Pet Foods
-
Darling Ingredients Inc.
-
Roquette Freres
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 7.88 Billion |
|
Revenue Forecast in 2030 |
USD 15.93 Billion |
|
Growth Rate |
CAGR of 10.1% from 2024 to 2030 |
|
Market Volume in 2023 |
1978.59 Kilotons |
|
Volume Forecast in 2030 |
3255.69 Kilotons |
|
Growth Rate (Volume) |
CAGR of 7.0% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2024 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
|
|
Countries Covered |
10 |
|
Companies Profiled |
10 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
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