Industry: Retail and Consumer | Publish Date: 23-Nov-2024 | No of Pages: 117 | No. of Tables: 85 | No. of Figures: 50 | Format: PDF | Report Code : RC2847
The Latin America Pet Food Ingredients Market size was valued at USD 2.54 billion in 2023, and is predicted to reach USD 4.20 billion by 2030, at a CAGR of 7.0% from 2024 to 2030. In terms of volume the market size was 579.85 kilotons in 2023 and is projected to reach 781.88 kilotons in 2030, with a CAGR of 4.0% from 2024 to 2030.
The pet food ingredients market refers to the creation and supply of essential raw materials used in making pet foods that addresses to the diverse nutritional requirements of various species. These ingredients ranging from proteins, carbohydrates, and fats to vitamins and minerals are derived from both plant and animal sources and undergo processing methods such as grinding and blending to improve their flavor and nutrient content.
The use of high-quality ingredients is essential for promoting pet health and facilitating growth as they deliver the necessary nutrients for pets with specific dietary needs. The companies in the sector emphasize sourcing premium ingredients and maintaining transparency across their supply chains, enhancing both product quality and consumer trust. This approach plays an important role in advancing the market, as consumers increasingly seek superior pet food choices.
Rising pet population in countries of Latin America such as Brazil, Chile, Argentina, and among others drives the growth of the pet food ingredients market as more pet-owning households lead to a greater demand for varied and nutritious pet food. Pet owners are increasingly looking for products personalized to their pets' specific dietary preferences, driving manufacturers to create a broader range of high-quality ingredients.
According to the most recent data published in 2022 by the Brazilian Association of the Pet Products Industry (Abinpet), Brazil experienced a 3.6 percent increase in its pet population, reaching a total of 167.6 million pets. This growth in pet ownership highlights the need for manufacturers to innovate in sourcing diverse ingredients that in turn fuels the market growth.
The rising disposable income in Brazil contributes to the expansion of the pet food ingredients market as increased household earnings enable pet owners to spend more on premium, high-quality pet food that meets their pets' dietary needs.
According to the latest report published by the U.S. Energy Information Administration, the average net-adjusted disposable income per capita in Brazil reached to USD 11,919 in 2022 and predicted a growth to USD 13,426 by 2050. This rising income strengthens consumer spending on pet food, thereby, propels the demand for a broader range of nutritious ingredients within the market.
The restricted access to essential resources restraints the growth of the pet food ingredient market. The challenges in acquiring top-quality ingredients such as premium proteins, grains, and other nutrients, coupled with the unpredictability of agricultural yields that are influenced by climate conditions, market fluctuations, or seasonal variations.
These factors severely limit manufacturers' capacity to scale their operations and meet the increasing demand for high-quality pet food ingredients, thereby slowing down overall market growth.
The adoption of sustainable protein sources such as egg-derived proteins, tofu byproducts, black soldier flies, and silkworms is expected to create new opportunities in the pet food ingredient market. These alternatives are gaining recognition for their rich nutritional content and lower environmental footprint compared to traditional proteins including beef and pork.
Egg and tofu byproducts deliver essential nutrients and supports food waste reduction, while insect proteins from black soldier flies and silkworms offer an efficient and eco-conscious approach to protein production. These sustainable choices not only fulfill the nutritional requirements of pets but also encourage the adoption of
practices, encouraging the industry toward environmentally responsible production and long-term sustainability.
The several market players operating in the Latin America pet food ingredients market include Cargill Incorporated, BASF SE, Archer Daniels Midland Company (ADM), Koninklijke DSM N.V., Mowi ASA, Symrise AG, Darling Ingredients Inc., The Scoular Company, Roquette Freres, Kemin Industries Inc., and others.
Non-Vegan
Beef
Chicken
Fish
Others
Vegan
Soyabeans
Peas
Lentils
Others
Novel Proteins
Organic
Inorganic
Dry
Wet
Dog
Cat
Others
Online
Offline
Cargill Incorporated
BASF SE
Archer Daniels Midland Company (ADM)
Koninklijke DSM N.V.
Mowi ASA
Symrise AG
Darling Ingredients Inc.
The Scoular Company
Roquette Freres
Kemin Industries Inc.
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 2.54 Billion |
Revenue Forecast in 2030 |
USD 4.20 Billion |
Growth Rate |
CAGR of 7.0% from 2024 to 2030 |
Market Volume in 2023 |
579.85 Kilotons |
Volume Forecast in 2030 |
781.88 Kilotons |
Growth Rate (Volume) |
CAGR of 4.0% from 2024 to 2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2024 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Billion (USD) |
Growth Factors |
|
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. |