The Global Pet Food Flavors and Ingredients Market is expected to grow with a CAGR of 10.8% in the forecast period of 2023 to 2030. The years considered for the study are as mentioned below.
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The global pet food flavors and ingredients market is a highly consolidated market, which includes a specific number of key players. The market has witnessed increased strategic developments owing to a favorable market scenario.
The major players dealing in the global pet food flavors and ingredients market are introducing a strong range of products and services and adopting strategic initiatives such as acquisition, agreement, business expansion, announcement, achievement, and innovation into the market. This helped companies to maximize sales with an enhanced services portfolio.
For instance;
- In December 2020, Cargill, Incorporated expanded opportunities for innovation in plant-based foods with the addition of pea protein to the European ingredient portfolio. Cargill is responding by adding pea protein to its portfolio of ingredients available in Europe. The move will help European food and beverage manufacturers meet the increasing demand for nutritious, plant-based products. Moreover, Cargill pea proteins are designed to meet the functional and sensory challenges in alternative emerging applications. This has helped the company to expand its product portfolio.
Cargill, Incorporated is the market leader in the global pet food flavors and ingredients market globally. Some of the other players in this market are ADM, Symrise, DSM, BASF SE, Ingredion., International Flavors & Fragrances Inc., Kerry Group plc., Glanbia plc, Roquette Frères, Barentz, Chr. Hansen Holding A/S, Lallemand Inc., The Scoular Company, Balchem Inc., Kemin Industries, Inc., Omega Protein Corporation, The Peterson Company, and Wysong among others.
Cargill, Incorporated
Cargill, Incorporated is headquartered in Minnesota, U.S., and was founded in 1865. The company focuses on providing food, agriculture, financial and industrial products, and services to the world. The company provides various product categories such as agriculture, animal nutrition, beauty, bioindustrial, foodservice, food & beverages, industrial, pharmaceutical, meat & poultry, risk management, and supplements, where animal nutrition, food & beverages are the market-focused product categories.
The company has a presence in Asia-Pacific, America, Europe, and the Middle East and Africa.
For instance;
- In December 2020, Cargill, incorporated expanded opportunities for innovation in plant-based foods with the addition of pea protein to the European ingredient portfolio. Cargill is responding by adding pea protein to its portfolio of ingredients available in Europe. The move will help European food and beverage manufacturers meet the increasing demand for nutritious, plant-based products. Moreover, Cargill pea proteins are designed to meet the functional and sensory challenges in alternative emerging applications. This has helped the company to expand its product portfolio.
ADM
ADM is headquartered in Illinois, U.S., and was founded in 1902. The company focuses on providing a complete range of solutions and services for livestock, aquaculture and pets and also creating and combine ingredients and flavors for food and beverages, supplements, animal feed and more. The company operates business segments such as Ag services and oilseeds, carbohydrate solutions, and nutrition, where nutrition is the market-focused business segment. The company provides various product categories such as human nutrition, animal nutrition, industrial biosolutions, and services, where animal nutrition is the market-focused product category.
The company has a presence in Asia-Pacific, America, Europe, and the Middle East and Africa.
For instance;
- In November 2022, ADM, a global leader in human and animal nutrition, revealed their third annual outlook on the global consumer trends that will shape the food, beverage, and animal nutrition industries and drive market growth in the years ahead. Separating the intersection of health and well-being, sustainability, and food security, ADM has identified eight spaces that detail consumers' evolving behaviors, attitudes, and aspirations. This has helped the company to grow its product portfolio.
Symrise
Symrise is headquartered in Southern Lower Saxony, Germany and was founded in 2003. The company focuses on creating inspiring fragrance, flavor, natural nutrition and cosmetic ingredients solutions. The company operates business segments such as taste, nutrition & health, scent & care, where taste, nutrition & health is the market-focused business segment. The company provides various product categories such as taste, nutrition & health, scent & care, where taste, nutrition & health is the market-focused product category.
The company has a presence Americas, Europe, Asia-Pacific, and the Middle East and Africa.
For instance;
- In July 2022, Symrise announced that it had closed its acquisition of Wing Pet Food. The company was formerly known as Wing Biotech. It has established itself as China's leading manufacturer of pet food flavor enhancers and supplier of pet food and pet food preservatives. "With this move, Symrise has acquired additional capabilities for its pet food division. This acquisition further strengthens the market position in the pet food business. At the same time, it accelerates diversification in the fields of nutrition and food safety. This has helped the company to expand its business in the market.
