Global Pet Food Premix Sales Set to total USD 2,654.3 million in 2024 Amid Increasing Awareness of Pet Wellness | Future Market Insights, Inc.

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Jul 02, 2024, 10:30 ET

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.

Report Preview: https://www.futuremarketinsights.com/reports/pet-food-premix-market

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.

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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.

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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.

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