The global pet food ingredients market is projected to grow from US$41.55bn in 2026 to US$57.68bn by 2031, representing a compound annual growth rate (CAGR) of 6.8%, according to MarketsandMarkets.
Growth is being driven by pet humanisation and rising consumer interest in animal health, nutrition and preventive care. Manufacturers are increasingly incorporating functional ingredients into dry and wet food, treats and supplements to support digestive health, immunity, skin and coat condition, and healthy ageing.
Ingredients such as animal and plant proteins, fats and oils, grains, vitamins and minerals remain central to pet food formulation. Demand is also increasing for probiotics, prebiotics, enzymes, omega-3 fatty acids and antioxidants, alongside natural, sustainably sourced and highly digestible ingredients.
Vegetables and fruits are forecast to record the highest compound annual growth rate among ingredient categories
Animal proteins and fruit and vegetables
Animal-based ingredients are expected to be the fastest-growing source segment during the forecast period. Demand for premium and specialised nutrition is encouraging greater use of meat, poultry, fish and egg ingredients, as well as novel protein sources. Growth in fresh, refrigerated, freeze-dried and air-dried pet food is creating further opportunities for ingredient suppliers.
Vegetables and fruits are forecast to record the highest compound annual growth rate among ingredient categories. Their fibre, vitamins, minerals, antioxidants and other phytonutrients make them useful additions to formulations targeting digestive health and overall wellbeing. Their use is expanding in premium, natural and functional products.
Asia Pacific is expected to be the fastest-growing regional market, supported by rising pet ownership, disposable incomes and spending on companion animals. China, India, Japan, South Korea and Southeast Asia are key markets, with demand shaped by premiumisation, e-commerce growth and increasing interest in specialised nutrition.
Investment and acquisitions
Investment is supporting manufacturing capacity and the development of alternative and functional ingredients. ADM invested US$33m in a new pet food production line in Guadalajara, Mexico, in October 2023, while Scoular subsidiary Petsource announced a US$75m investment in its ingredient portfolio and production capacity in November 2021.
The report identifies a shift towards premium products, functional nutrition and more sustainable sourcing
In April 2026, Symrise made a strategic equity investment in Bond Pet Foods to advance precision fermentation for animal-identical proteins.
Acquisitions are also reshaping the supply chain. Darling Ingredients acquired Poland’s Miropasz Group in 2024, strengthening its supply of animal-derived raw materials. In 2023, Scoular acquired a frozen fish processing plant in the US to expand production of fish ingredients for pet food. Other deals include ADM’s acquisition of a feed mill in the Philippines and Symrise’s acquisition of Chinese supplier Wing Pet Food.
MarketsandMarkets estimates that the five largest companies — BASF, Darling Ingredients, dsm-firmenich, Ingredion and Cargill — collectively account for approximately 35–40% of the market.
The report identifies a shift from commodity ingredients towards higher-value, differentiated solutions, as manufacturers respond to demand for premium products, functional nutrition and more sustainable sourcing.
Download the complete report HERE.
