Fast Market Research announces the availability of the new Markets and Markets report, "Pet Food Ingredients Market - Global Trends and Forecasts to 2020 ", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 09/03/2015 -- Pet Food Ingredients Market by Source (Animal Derivatives, Plant Derivatives & Additives), Form (Wet & Dry), Animal (Dog, Cat, Bird, Fish & Others), & by Region - Global Trends and Forecasts to 2020
The pet food ingredients market is gaining momentum and this trend is projected to continue. The pet food ingredients market was valued at USD 28.6 billion in 2014 and is projected to reach USD 37.3 billion by 2020, at a CAGR of 4.5% from 2015 to 2020. The market is driven by factors such as increase in global pet population, improved distribution network worldwide, increase in pet acquisition and pet adoption, increasing trend of pet humanization, and increased palatability of pet food. The high growth potential in developing markets, advanced technology, and increase in the demand of pet food ingredients provides opportunities for emerging market players.
Get More Details on this Report and a Full Table of Contents at Pet Food Ingredients Market - Global Trends and Forecasts to 2020
By animal, the dog segment dominated the pet food ingredients market and was valued at USD 10.0 billion in 2014. By source, the animal derivatives segment in pet food ingredients dominated the market; and accounted for a share of about 48.7% in 2014. The pet food ingredients market is an emerging market with key market players driving the growth with new product developments, expansions, acquisitions, and investments to develop their position in the pet food ingredients market. The market is competitive with the leading players being involved in the research & development of various pet food products to bring sustainability.
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