Industry: Retail and Consumer | Publish Date: 19-Nov-2024 | No of Pages: 117 | No. of Tables: 85 | No. of Figures: 50 | Format: PDF | Report Code : RC2824
The Mexico Pet Food Ingredients Market size was valued at USD 861.6 million in 2023, and is predicted to reach USD 1235.0 million by 2030, at a CAGR of 4.8% from 2024 to 2030. In terms of volume the market size was 204.21 kilotons in 2023 and is projected to reach 238.87 kilotons in 2030, with a CAGR of 1.9% from 2024 to 2030.
The pet food ingredients market refers to the production and supply of essential raw materials required for creating pet foods that satisfy the nutritional needs of various species. These ingredients that include proteins, carbohydrates, fats, vitamins, and minerals sourced from both plants and animals, undergo processing methods such as grinding and blending to enhance their flavor and nutritional value.
Prioritizing high-quality ingredients is important for improving pet health and promoting growth, as they deliver essential nutrients to meet specific dietary requirements and health concerns.
The companies in this sector emphasize sourcing premium ingredients and ensuring transparency within their supply chains that not only enhances the nutritional quality of their offerings but also builds consumer trust. As a result, this strategic approach plays a significant role in driving the overall expansion of the pet food ingredients market, with consumers increasingly seeking superior choices for their pets.
The increasing pet ownership across Mexico significantly influence the growth of the pet food ingredients market as more households adopting pets, there is a rising demand for various nutritious food choices. They are focused on providing quality nutrition that led to prompt manufacturers enhance their ingredient offerings and formulations to address different dietary requirements.
As per the latest report published by the Government of Canada, in 2022, the country’s pet population was approximately 33.71 million. This expanding pet demographic plays an important role in driving the demand for premium pet food ingredients, contributing to sustained market expansion.
The surge in urbanization throughout Mexico drives the expansion of the pet food ingredients market as more individuals residing in urban areas leads to higher pet ownership rates and a greater demand for a diverse range of high-quality pet food products.
This trend prompts manufacturers to seek a broader selection of premium ingredients to meet the unique dietary needs of urban pet owners. According to the Central Intelligence Agency (CIA), approximately 81.6% of Mexico's total population resided in urban areas in 2023. As urban pet ownership continues to rise, the demand for specialized and nutritious pet food ingredients increases, further propels the growth of the market.
The growing consumer expectation for transparent sourcing practices drives up operational costs for manufacturers that restricts the market growth in Mexico. As companies make efforts to provide detailed information regarding their sourcing, they face escalating expenses related to compliance, documentation, and managing their supply chains.
This financial pressure obstructs manufacturers' ability to invest in new product development and expansion that ultimately affects the growth of the market. Moreover, the necessity for greater transparency led to higher consumer prices that affects demand and further limit growth opportunities.
The utilization of sustainable protein sources including egg-derived proteins, tofu byproducts, black soldier flies, and silkworms, is anticipated to generate new opportunities in the pet food ingredient market. These options are increasingly appreciated for their nutritional benefits and reduced environmental impact when compared to conventional proteins such as beef and pork.
Egg proteins and tofu derivatives supply vital nutrients while aiding in food waste reduction. Similarly, insect proteins sourced from black soldier flies and silkworms offer an efficient means of protein production, presenting eco-conscious choices for the pet food sector. These alternatives not only address the dietary needs of pets but also promote organic practices, driving the industry towards environmentally responsible practices and sustainable growth.
The several market players operating in the Mexico pet food ingredients market include Cargill Incorporated, BASF SE, Archer Daniels Midland Company (ADM), Koninklijke DSM N.V., Campi Alimentos S.A de C.V., Symrise AG, BRF Ingredients, The Scoular Company, Roquette Freres, Kemin Industries Inc., and others.
Cargill Incorporated
BASF SE
Archer Daniels Midland Company (ADM)
Koninklijke DSM N.V.
Campi Alimentos S.A de C.V.
Symrise AG
BRF Ingredients
The Scoular Company
Roquette Freres
Kemin Industries Inc.
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 861.6 Million |
Revenue Forecast in 2030 |
USD 1235.0 Million |
Growth Rate |
CAGR of 4.8% from 2024 to 2030 |
Market Volume in 2023 |
204.21 Kilotons |
Volume Forecast in 2030 |
238.87 Kilotons |
Growth Rate (Volume) |
CAGR of 1.9% from 2024 to 2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2024 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Million (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. |