Industry: Retail and Consumer | Publish Date: 21-Nov-2024 | No of Pages: 117 | No. of Tables: 85 | No. of Figures: 50 | Format: PDF | Report Code : RC2835
The Sweden Pet Food Ingredients Market size was valued at USD 457.2 million in 2023, and is predicted to reach USD 883.7 million by 2030, at a CAGR of 9.4% from 2024 to 2030. In terms of volume the market size was 52.86 kilotons in 2023 and is projected to reach 82.40 kilotons in 2030, with a CAGR of 6.2% from 2024 to 2030.
The pet food ingredients industry refers to the production and supply of essential raw materials required for making pet food. The ingredients sourced from both plant and animal origins deliver essential nutrients including proteins, carbohydrates, fats, vitamins, and minerals to meet the dietary needs of different animal species.
Through various processes such as grinding and blending, these raw materials are refined to improve both flavour and nutritional value. They emphasis on high-quality components, these ingredients support pet health and development, providing important dietary options to meet specific needs. The companies in this industry prioritize sourcing premium ingredients and ensuring supply chain transparency. This strategic commitment supports market expansion as pet owners increasingly look for quality food choices for their pets.
Increasing disposable income in Sweden supports the expansion of the pet food ingredients market as pet owners invest more in premium, high-quality pet food that fulfills their pets' nutritional requirements. According to the latest OECD Better Life Index report, Sweden’s average household net adjusted disposable income per capita is anticipated to reach USD 33,730 in 2024, surpassing the OECD average of USD 30,490.
This rising income encourages pet owners to prioritize superior nutrition for their pets, driving demand for premium ingredients. Consequently, manufacturers expand their range of high-quality, specialized pet food products to meet these shifting consumer preferences that propels the market growth.
Increasing pet ownership across Sweden drives the growth of the pet food ingredients market as more households adopts pets that leads to higher demand for premium pet food products designed to meet specific dietary needs. As per the latest report published by the European Pet Food Industry Federation's, Sweden's pet population was approximately 3,897,000 in 2022.
This rising trend not only fuels the demand for a range of ingredients but also encourages manufacturers to innovate and broaden their product selections, aligning with evolving consumer expectations and sustaining market growth.
The pet food ingredients market faces substantial constraints due to strict regulatory requirements around ingredient sourcing, safety compliance, and accurate labeling. These regulations require manufacturers to bear additional costs to ensure compliance, impacting overall production budgets.
The high compliance standards often slow down innovation as companies invest time and resources into meeting regulations, delaying the introduction of new ingredients or formulations. This cautious approach limits the market's ability to adapt to rapidly evolving consumer preferences and demand for variety. Ultimately, these regulatory barriers place considerable pressure on the market, reducing growth by restricting product development and expansion opportunities.
Incorporating sustainable protein sources such as egg proteins, tofu byproducts, black soldier flies, and silkworms is anticipated to create new opportunities for the pet food ingredient market. As compared to traditional proteins such as beef and pork, these options are nutrient-dense and come with a reduced environmental impact.
Both egg proteins and tofu derivatives provide vital nutrients while contributing to food waste reduction. Additionally, insect proteins sourced from black soldier flies and silkworms offer a sustainable, eco-conscious approach to protein production. These options not only fulfill pets’ nutritional requirements but also support the adoption of organic practices, steering the industry toward responsible production and long-term sustainability.
Non-Vegan
Beef
Chicken
Fish
Others
Vegan
Soyabeans
Peas
Lentils
Others
Novel Proteins
Organic
Inorganic
Wet
Cat
Others
Offline
BASF SE
Archer Daniels Midland Company (ADM)
Kemin Industries Inc.
Alsiano A/S
Symrise AG
Doggy AB
The Scoular Company
Magnusson Petfood AB
VAFO Group A.S.
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 457.2 Million |
Revenue Forecast in 2030 |
USD 883.7 Million |
Growth Rate |
CAGR of 9.4% from 2024 to 2030 |
Market Volume in 2023 |
52.86 Kilotons |
Volume Forecast in 2030 |
82.40 Kilotons |
Growth Rate (Volume) |
CAGR of 6.2% 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.a |