Cibi e Bevande
Insect-based Pet Food Market to top US$ 17.27 Bn Amid Surging Demand for Grain-Free Pet Food: FMI
Rising pet adoption across the globe is spurring demand for insect-based pet food. This has also resulted in the popularity of the 'pet humanization' trend in which individuals are giving equal importance to their pet's health and well-being by giving them specialized diets.
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As a result, insect-based pet food is becoming increasingly popular among pet owners. Shifting consumer preference towards sustainable pet food, along with the rising incidence of illnesses in pets from livestock-based animal food will continue driving sales of insect-based pet food in the forthcoming years.
In response to growing demand for insect-based pet food, manufacturers are launching pet food derived from black soldier flies larvae (BSFL). In January 2021 , the Ingredient Definition Committee Association of American Feed Control Officials (AAFCO) approved black soldier fly larvae (BSFL) to use in adult dog food and treats. BSFL's use in cat food is on track to be approved in 2022.
Such developments are anticipated to bode well for the insect-based pet food market. Sales of insect-based pet food in the U.S., the U.K., China , and India are anticipated to gain traction at a remarkable pace over the assessment period, owing to rising awareness regarding grain-free pet food.
Key players operating in the insect-based pet food market are investing in research and development to improve their product portfolios. Besides this, collaborations, partnerships, and acquisitions are among other anticipated strategies adopted by players to gain a competitive edge. For instance:
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The latest market study on the insect-based pet food market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global insect-based pet food market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
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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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