Pets and the food they eat is beginning TO reflect the dietary choices that their owners themselves are making. From obesity-fighting formulatiONs to the introduction of ancient grains and alternative proteins, the options for targeted, functional foods within the pet food sector are growing.
Mealworm powder MO has high contents of unsaturated fatty acids, such as oleic acid and linoleic acid. PMO has a higher γ-tocopherol content, brighter yellow color, lower ρ-anisidine value, and total oxidation value than that of lard or olive oil.
The premiumization of pet food is on the rise as more consumers consider What exactly their pets are eating. The result is that many of the trends that are popular for human food are also making an appearance in the pet food sector. Organic pet food is one category that has ballooned. In 2020, the organic pet food segment reached $22.8 billion in sales.
Similarly, pet supplements for joint, fur, heart and oral health have been on the rise. Grand View Research found that the global pet supplements market will increase from $1.9 billion in 2021 at a compound annual growth rate (CAGR) of 5.9% through 2030.
Increased premiumization of pet food has pushed pet owners to spend more on feeding their animals. In the United States, $42 billion (€40 billion) was spent on pet food and treats in 2020, a 9.7% increase from a year prior, according to the American Pet Products Association.
The global pet food market in general is also growing. Fortune Business Insights projects the market to grow at a 5.11% compound annual growth rate from $110.53 billion(€106.25) in 2021 to $163.7 billion (€157.37) by 2029.