The Pet Food Ingredients Market, valued at USD 34.2 billion in 2023, is expected to reach USD 47.4 billion by 2028 with a CAGR of 6.8%, as per a report from MarketsandMarkets. This growth is attributed to advancements in pet nutrition research, leading to the development of specialized components addressing specific nutritional needs.
The industry's vitality is driven by changing pet ownership trends, with a rising demand for premium, personalized nutrition solutions. Key factors contributing to the sector's robust growth include evolving customer preferences, increased awareness of pet health and the ongoing trend of humanizing pets.
