Cibi e Bevande
Increasing Demand for Premium Dietary Options Fueling the Global Pet Food Ingredients Market
Developed economies, such as North America and Europe , witnessed increased pet adoption in 2020 to combat loneliness amid lockdown measures. This boosted the demand for premium pet foods and pet food ingredients. However, a few countries in Asia-Pacific , including China , Malaysia , and Singapore ; Latin America ; and the Middle East and Africa , witnessed increased cases of pet abandonment, which affected the market growth of pet food ingredients in these regions.
"On a macro level, the humanization of pets trend is becoming more relevant globally, with more pet owners treating their pets as a part of their family and wanting to provide them with superior products and experiences equivalent to humans," said . "As a result, pet owners are paying more attention to their pet's joint health, immunity and digestive health, and general wellness. This is driving demand for functional and specialized ingredients such as probiotics, glucosamine, and omega-3 fatty acids."
Dhomne added: "By market segmentation, dog food applications dominate the global pet food ingredients market due to higher market penetration than food for cats and other types of pets."
The pet food ingredients market is highly fragmented. To tap into the growth opportunities, market participants need to focus on:
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