Pet Food Ingredients Market Trend – Nourishing the Rise of Quadruped Flexitarians
Globally, the proclivity of pet ownership is increasing. Especially with regards to the aging population in matured economies, many consumers are considering animals their companions. Furthermore, the rising population of singles and childless couples are increasingly perceiving pets as companions. In developing economies, the increasing availability of disposable income has facilitated pet adoption in greater numbers. It is a fact that the existence of pets in human lives is a time-honored aspect, nevertheless with an increasing shift in perception pets now occupy human spaces that even extend to social media.
Thus, with the advent of pet parents emerges the concept of humanization. This has resulted in aspirations for offerings for pets that take into account the same concern for health and wellbeing, which would influence consumer choices when purchasing products meant for human consumption. The aforesaid is one of the fundamental determinants influencing the decision of pet food purchases that are expected to drive the demand for pet food ingredients.
Residues and Waste From the Food Industries; Prepared Animal Fodder; Preparations of a Kind Used in Animal Feeding (Exports)
In Thousands of US Dollars
Source: International Trade Centre
The Emerging Trend of Limited-Ingredient Diets to Positively Influence the Pet Food Ingredients Market
The human dietary pattern is marked with a variety of trends, a few of them pertain to a substantial restriction of certain kinds of food. The same has emerged in the pet food market and is being made commercially available in the form of limited-ingredient diets (LID) that are known to constitute a short ingredient list to deliver maximum nutrition. More consumers are turning to limited ingredients for simplicity in their pets’ diets with the increasing momentum of meat-first formulations that focus on high-quality proteins at the forefront of a short ingredient. Due to the reduction of ingredients salmon oil, patented probiotic, miscanthus grass, inulin, among others are few of the consideration which is increasingly becoming integral to pet food and supplement. Further, particularly for pets that may have specific dietary restrictions, a high-quality, accessible limited-ingredient diet has the potential to improve pets’ well-being and allow them more quality time with their owners.
A recent example is the launch of Brilliant Salmon Oil, which is a single ingredient product and devoid of any additives, by Hofseth BioCare, during July 2020, in Canada and the United States that has been made commercially available in the independent pet specialty channel. The supplement is reportedly human grade and is known to offer functional benefits that include healthy coat, skin and paw pad as well as facilitate the increase in appetite and energy. The company reportedly manufactures its salmon oil in Norway using Norwegian Atlantic salmon and a patented extraction process. Further augmented by increasing consciousness of allergens and food sensitivities for companion animals, and due to the growing adherence with the trend towards clean eating, the growing popularity of LID is expected to foster pet food product innovation which in turn is expected to drive the growth of pet food ingredients market.
The Transcendent Trend of Plant-Based, Vegetarian and Vegan and Its Influence Favorable to Pet Food Ingredients Market Growth
With increasing awareness that pets do not essentially need animal meat but they need protein, which can be derived from a plethora of sources that are, inclusive of but not limited, to proteins from plants, insects, fungi, and cell-based lab production, the pet food ingredient market growth is estimated to be driven by the aforementioned trend, as well. For instance, in August 2019, the renowned maker of koji-protein dog treatsWild Earth, Inc., had reportedly launched its first dog food product at SuperZoo which was made commercially available by independent US pet retailers. The reportedly balanced and complete diet for dogs is meatless and each serving contains 31% complete protein derived from yeast. Other ingredients, which the diet comprises are sweet potatoes, spinach, pumpkin, oats, chickpeas, blueberries, and spinach and is devoid of artificial flavors or preservatives. Moreover, in August 2020, it was reported that the Scoular Company will construct its $13 million barley protein concentrate (BPC) manufacturing facility, to the south of the company’s existing livestock feed ingredient facility, in Jerome. It spans 15,000 sq. ft and is to be reportedly constructed on 4 acres of land, in Jerome. Earlier in June that year, a partnership with Montana Microbial Products was announced by the company to produce and market the sustainable, plant-based protein ingredient for Asian and North American pet food manufacturers, among others.
Further, proteins are not the only consideration for pet food formulators who have to carefully weigh in the science behind a trend, the size of the product that is in trend, and the product portfolio diversification. Vitamins, minerals, and fibers are also equally important which was exemplified by the reported launch of new vegetable ingredients by Duynie Group, a ROYAL COSUN company earlier in November 2018. These ingredients are dried and reportedly ground where applicable. Further, it was also reported in May 2020, that to respond to the demand for sustainably produced high-quality pet food ingredients, Duynie Ingredients will officially move to its new office at the climate-neutral factory which has been recently built in Cuijk, the Netherlands. The factory would reportedly operate entirely on residual heat from an adjacent biopower station.
Number of Pets in Europe, by Type of Animal
COVID 19 and Its Influence on the Pet Food Ingredient Market
Just like it is in the case of retail food for humans the pet food market is also expected to witness a surge in demand for all-natural products with a special emphasis on the origin of the ingredients and how the ingredients have been sourced. The high rates of furloughs and unemployment due to the pandemic are expected to dissuade the consumers from aspiring for premium price tags which comes with the territory of sustainable as well as naturally-formulated pet products. However, the trend for pet food with naturally derived ingredients is expected to witness an upwards trajectory, in the years to come. Another trend that is expected to primarily stem from trade disruptions due to COVID 19, is the increasing domestic sourcing of ingredients which is expected to augment the growth of domestic pet food ingredient markets. Nevertheless, national regulatory compliances (wherever present) are expected to create challenges that are estimated to further provide opportunities for pet food ingredient manufacturers resulting in newer product developments.
Leave a ReplyWant to join the discussion?
Feel free to contribute!