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Pet Food Ingredient Market Forecast to Hit $59B by 2025

March 14, 2019
Sales of pet food ingredients is expected to grow to $59 billion by 2025, according to a new market research report. Image courtesy of Pixabay
Sales of pet food ingredients is expected to grow to $59 billion by 2025, according to a new market research report. Image courtesy of Pixabay

A new report by market insights firm Grand View Research Inc. forecasts that the global pet food market will reach a value of $59.45 billion by 2025 as the number of pet owners continues to increase. Researchers expect the market to be propelled by increased interest in pet nutrition and an uptick in consumer demand for pet products during the forecast period. 

“Rising number[s] of hypermarkets along with pet specialty stores resulted in development of distribution channels, which is augmenting the global pet food ingredient market,” Grand View Research said in a recent press release announcing the report’s findings. “Key manufacturers are involved in marketing and educational campaigns to increase consumer awareness regarding benefits of nutritious ingredients, which is likely to propel the market over the coming years.”

The report noted that sales of dog food made with probiotics accelerated by 139% from 2017 to 2018 and pet “superfoods” are experiencing a surge of growth, particularly products featuring blueberry, cranberry, and sweet potato. 

Regionally, Asia Pacific is expected to exhibit the largest volume of growth during the period. 

“Increasing population and rising disposable income in the region is poised to stir up the demand for pet food ingredients in APAC. Soaring consumer spending on companion animals is causing a shift from mass market to premium products,” a summary of the report said. “Increasing consumer preferences for natural products is also likely to stimulate the growth of the regional market.”

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