|By PR Newswire||
|April 9, 2014 12:56 PM EDT|
DUBLIN, April 9, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/nwjj33/pet_food) have announced the addition of the "Pet Food Ingredients Market by Type, Animal & Geography - Global Trends & Forecasts To 2018" report to their offering.
The global market revolves around products consumed by pets such as dogs, cats, birds, and fish. The dog food segment acquires the maximum share in this market. The North American market topped the chart, accounting for approximately 38% of the global pet food ingredients market. The global market is expected to grow at a CAGR of 4.5% by 2018, with the highest growth projected to be observed in the Asia-Pacific region. The U.S. dominates the pet food ingredient market as it is home to the top manufacturers of pet food.
There has been an increase in the number of individuals with significant amount of disposable income. These individuals are opting to adopt pets for security as well as for companionship. They are aware of proper pet nutrition, hence are ready to spend premium amounts for quality pet food. This increasing demand for pet food has created a hike in demand for pet food ingredients. The manufacturers of pet foods ingredient are forced to expand their production capacities in order to fill the void between demand and supply.
There has been an improvement in the distribution and supply network value chains, due to which it has become easier for manufacturers to deliver quality pet food ingredients, on time to pet food manufacturers. There have been minimal product recalls due to enhancement in the distribution and handling technology of pet food ingredient.
Extensive investments are made in research and development to come up with advanced products, so that the maximum market share can be occupied by introducing new and improved products to meet customers' demands. ADM (U.S.), DSM (the Netherlands), DuPont (U.S.), BASF (Germany), Ingredion Inc. (U.S.), and Roquette Freres (France) are some of the key players in the pet food ingredients market and their recent development strategies have been studied.
The global market share was dominated by North America in 2012. Followed by Europe, a rising pet population and growing expenditure per pet resulted in strong value growth in this region. Asia-Pacific is the next largest market for pet food ingredients. ROW ranks last, with the least market share. Rising disposable income supported by consumer education about pet nutrition, is the primary reason for particularly strong growth in this market.
Key Topics Covered:
2 Executive Summary
3 Market Overview
4 Premium Insights-Pet Food Ingredients Market
5 Pet Food Ingredients Market, By Type
6 Pet Food Ingredients Market, By Animal
7 Pet Food Ingredients Market, By Geography
8 Competitive Landscape
9 Company Profiles
- Archer Daniels Midland Co. (Adm)
- Darling International Inc.
- Dupont Msds.
- Ingredion Inc.
- John Pointon & Sons Ltd.
- Omega Protein Corporation
- Roquette Freres
- Royal Dsm Nv
- The Scoular Company
For more information visit http://www.researchandmarkets.com/research/nwjj33/pet_food
Media Contact: Laura Wood, +353-1-481-1716, [email protected]
SOURCE Research and Markets
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