Pet food ingredient market set to reach $57.68B by 2031

GLOBAL – The global pet food ingredients market is projected to grow from US$41.55 billion in 2026 to US$57.68 billion by 2031, at a compound annual growth rate (CAGR) of 6.8%, driven by rising pet ownership, pet humanisation and demand for premium, health-focused nutrition, according to MarketsandMarkets.

The report attributes growth to increased use of proteins, fibres, vitamins, minerals, palatants, and speciality ingredients in pet food, treats, and supplements, as owners place greater emphasis on animal health and nutritional quality.

Animal-based ingredients are expected to account for 53.8% of the market in 2026, making them the leading source category and the fastest-growing source segment through 2031. 

Demand for meat inclusion, alternative animal proteins, and species-specific formulations is driving this trend, along with growth in fresh, refrigerated, freeze-dried, and air-dried pet food.

Meat and meat products are projected to retain the largest share by ingredient type. However, vegetables and fruits are expected to grow fastest as manufacturers respond to demand for recognisable whole-food ingredients that provide fibre, vitamins, minerals and antioxidants.

Functional ingredients gain ground

The report highlights growing use of probiotics, prebiotics, enzymes, omega-3 fatty acids and antioxidants in dry and wet pet food formulations. These ingredients support digestive health, immune function, skin and coat condition, and healthy ageing.

Dry pet food is projected to grow at a 7% CAGR between 2026 and 2031. Advances in fermentation, protein processing, algae cultivation, enzyme technology and ingredient stabilisation are also enabling suppliers to develop more specialised nutritional solutions.

Asia Pacific is forecast to be the fastest-growing regional market, accounting for 21.8% of global market value in 2026. MarketsandMarkets identifies rising pet ownership and spending in China, India, Japan, South Korea and Southeast Asia as key drivers.

Demand in China is supported by interest in premium and functional products, while India’s market benefits from increased pet ownership, urbanisation, and the expansion of organised pet food retail. 

Japan and South Korea are seeing demand for age-specific and health-oriented formulations, according to the report.

The report profiles major ingredient suppliers including BASF, Darling Ingredients, Cargill, Ingredion, dsm-firmenich, ADM, Kemin Industries, Novonesis, Roquette, Symrise and Lallemand. 

It estimates that BASF, Darling Ingredients, dsm-firmenich, Ingredion and Cargill collectively hold around 35% to 40% of the market.

Projected growth points to opportunities in specialised proteins, functional additives, and ingredients tailored to pets’ nutritional needs. 

Competition will depend on developing products that meet manufacturers’ formulation requirements while supporting consistent quality and cost-effective production.

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