The U.S. pet food premix market is poised for robust growth,
projected to achieve a CAGR of 4.6%, reaching USD 690.1 million by 2034. This growth is fueled
by a high pet ownership rate of 70% of households and increasing
humanization of pets, driving demand for premium-quality premixes.
The expanding pet population and the growth of the pet health
product sector further contribute to this upward trend.
NEWARK, Del., July 2, 2024 /PRNewswire/ -- The global
pet food premix market is estimated to reach a market
valuation of USD 2,654.3
million in 2024. Over the forecast period, global pet
food premix demand is expected to surge at a 5.1% CAGR. By
2034, the total market is projected to reach a USD 4,008 million valuation.
Rising consumer awareness about the connection between pets and
their owners is driving increased demand for protein-based products
for pets, alongside intensifying animal farming practices. Pet
owners now seek foods that mirror current human food trends in
nutrition and health.
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Understanding the use of ingredients such as vitamins, minerals,
trace elements, and other essential components in pet food premix
products, and the trend towards ingredient transparency, aligns
with predominant consumer demand for clean labels and a desire to
know what goes into their pets' food.
Many serious illnesses in pets result from inadequate intake of
vitamins and minerals, leading to a weakened immune system
and increased susceptibility to various diseases. Ensuring proper
nutrition is crucial for the healthy growth of pets, benefiting
their overall health by providing essential vitamins and minerals
in their food.
Future Market Insights (FMI) reports a significant surge in the
Food Premix Market, driven by increasing consumer demand for
fortified and convenient nutrition solutions. This growth is fueled
by advancements in premix formulations and rising health awareness
globally
The pet food premix industry is experiencing significant growth,
driven by increasing demand for high-quality and nutritious pet
food products. Sales of pet food premixes are projected to rise as
pet owners seek customized and balanced diets for their pets. The
market's value is forecasted to expand, supported by advancements
in pet nutrition and rising pet ownership rates globally. This
growth trend is expected to continue, with a strong emphasis on
health and wellness in pet care
Key Takeaways from the Global Pet Food Premix Study:
- The pet food premix market is projected to progress at a CAGR
of 5.1% during the forecast period.
- The United States pet food
premix market is expected to develop at a 4.6% CAGR during the
forecast period.
- Based on form, the dry form segment is expected to dominate the
pet food premix market with a 36% market share in 2024.
- Based on ingredient type, the vitamin segment is expected to
hold a leading market share of 32%, aiming for a market valuation
of USD 849.3 million in 2024.
"Pet food premix market players who invest efficiently in
research and development and marketing are likely to generate
higher sales than their competitors owing to their strong brand
positioning," - Nandini Roy
Choudhury, Client Partner at Future Market
Insights.
Competition Outlook
The pet food premix market comprises several significant big and
small players. Though significant, there are no dominant single
players. Brands are focusing on enhancing their production capacity
and supply chain to cater to a wider audience. The players are
establishing collaborations and partnerships among themselves to
innovate products as per the customer appeal.
Strategies such as diversifying product range in terms of
various formats and being available on multiple sales channels are
proving to be leaders.
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Industry Updates
- In May 2023, DSM, a global health
and nutrition company focused on purpose, revealed its intention to
construct a state-of-the-art nutritional premix plant in
Tonganoxie, Kansas. The new
facility aims to supply the pet food industry with top-tier
nutritional premixes for use in branded pet food products
worldwide, with full operational readiness expected by early
2025.
- In February 2023, Evonik
introduced its inaugural plant-based premix, PhytriCare® IM,
designed to support animal health. This new product utilizes
selected plant extracts rich in flavonoids, renowned for their
anti-inflammatory properties. PhytriCare® IM is now accessible
across the EU, with approval processes underway in other
countries.
Leading Pet Food Premix Brands
- ADM
- DSM
- Wisium
- Zinpro
- Alltech
- Trouw Nutrition
- MIAVIT
- Koudijs
- Premier Nutrition
- AVITASA
- Nutri-Science
- MG3MIX
- D&D Ingredient
- Cargill Provimi
- Jubilant Ingrevia
- Others
Get valuable Insights into the Global Pet Food Premix
Market
Future Market Insights, in its new offering, provides a
thorough, detailed, and unbiased analysis of the global pet food
premix market, presenting historical demand data for the years 2019
to 2023 and forecast statistics for the years 2024 to 2034.
The study categorizes valuable insights into the global pet food
premix. Segmented by pet type, the market has been categorized into
dogs, cats, fish, bird, rabbit, and others. By ingredient types,
the industry is branched into vitamins, amino acids, minerals,
lipids, and others. By form, the industry is further categorized
into dry and liquid
Different sales channels include store-based retailing,
hypermarkets/supermarkets, convenience stores, mom & pop
stores, pet food stores, independent grocery retailers, other
retail formats and online retailers.
By Region, industry analysis has been carried out in key
countries of North America, Latin
America, Europe,
East Asia, South Asia, Oceania, and the Middle East & Africa.
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Authored by:
Nandini Roy Choudhury (Client
Partner for Food & Beverages at Future Market Insights, Inc.)
has 7+ years of management consulting experience. She advises
industry leaders and explores off-the-eye opportunities and
challenges. She puts processes and operating models in place to
support their business objectives.
She has exceptional analytical skills and often brings thought
leadership to the table.
Nandini has vast functional expertise in key niches, including
but not limited to food ingredients, nutrition & health
solutions, animal nutrition, and marine nutrients. She is also
well-versed in the pharmaceuticals, biotechnology, retail, and
chemical sectors, where she advises market participants to develop
methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and
marketing effectiveness, acquisitions and post-merger integration
and cost reduction. Nandini has an MBA in Finance from MIT School
of Business. She also holds a Bachelor's Degree in Electrical
Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in
journals including Beverage Industry, Bloomberg, and Wine Industry
Advisor.
Explore FMI's related ongoing Coverage in Food and
Beverage Domain:
The global pet food market size is
expected to reach US$ 1, 17,691.2
million in 2023. During the forecast period 2023 to 2033, global
pet food sales are likely to soar at 6.4% CAGR by 2033.
The global pet food and supplement market is
poised to reach a value of US$ 119.1
billion by 2024. Projections indicate a substantial surge to
US$ 210.0 billion by 2034.
The pet dietary supplement market is projected
to be worth US$ 4,269.1 million in
2023. The market is likely to reach US$
8,288.4 million by 2033.
The pet food ingredients market value is estimated
to reach US$ 42.2 billion in 2023. It
is projected to be valued at US$ 68.3
billion by 2033.
The global animal feed sweetener market size is
estimated to reach USD 9,732.1
million in 2024 and USD 20,784.6
million by 2034.
The global feed additive nosiheptide premix market size
is estimated to total USD 713.1
million in 2024 and USD 1,720
million by 2034.
The global citrus aurantium extract market size
is estimated to be USD 3.9 billion in
2024. By 2034, the industry size is predicted to cross USD 5.7 billion, developing at a CAGR of
3.8%.
The global energy supplement market is
estimated to be valued at USD 43.7
billion in 2024 and will likely soar at 4.7% CAGR during the
assessment period, totaling USD 69.4
billion by 2034.
The global veterinary therapeutic
diet industry size is estimated to reach
USD 1.6 billion in 2024 and further
increase at a CAGR of 9.6% during the forecast period.
The global probiotic infant formula market size
is projected to increase from US$ 526.2
million in 2024 to US$ 1,281.2
million by 2034. By 2034, global probiotic infant formula
sales are set to soar at 5.2% CAGR.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the
Stevie Award, and a member of the Greater
New York Chamber of Commerce) offers profound insights into
the driving factors that are boosting demand in the market. FMI
stands as the leading global provider of market intelligence,
advisory services, consulting, and events for the Packaging, Food
and Beverage, Consumer Technology, Healthcare, Industrial, and
Chemicals markets. With a vast team of over 400 analysts worldwide,
FMI provides global, regional, and local expertise on diverse
domains and industry trends across more than 110
countries.
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