Meticulous Research® – leading global market research company published a research report titled 'Europe Pet Food Protein Ingredients Market by Source (Animal Byproducts, Feed Grains, Soybean Byproducts, and Novel Proteins), and Application (Dry Foods, Wet Foods, Veterinary Diets, and Treats and Snacks)—Forecast to 2028'.

According to this latest publication from Meticulous Research®, the European pet food protein ingredients market is expected to grow at a CAGR of 14.7% from 2021 to 2028 to reach $2.85 billion by 2028. This market is majorly driven by factors, such as increasing consumer awareness regarding the benefits of protein intake for pets, an increase in the region's pet population with a significant rise in pet expenditures, and the rising demand for premium pet foods. Additionally, growing interest in novel protein-based nutrition is expected to offer significant growth opportunities for pet food protein ingredients manufacturers operating in Europe. However, fluctuating raw material prices and a reduction in free trade in Europe are projected to hinder the growth of this market. Also, regulatory structures and intervention, huge capital investments required to manufacture pet food, and the risk of counterfeit pet food products pose challenges to the growth of the pet food protein ingredients market in Europe.

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The Europe pet food protein ingredients market study presents historical market data in terms of value (2019 and 2020), estimated current data (2021), and forecasts for 2028. The market is segmented based on source, application, and country/region. The study also evaluates industry competitors.

Based on source, the pet food protein ingredients market in Europe is segmented into animal byproducts, feed grains, soybean & soybean byproducts, and novel protein sources. In 2021, the animal byproducts segment is estimated to account for the largest share of the European pet food protein ingredients market. The segment's large share is mainly attributed to the widespread adoption of animal byproducts in pet food manufacture, considering their high protein content, balanced amino acid profiles, better digestibility, and palatability. However, the novel proteins sources segment is expected to register the highest CAGR during the forecast period 2021–2028. This segment's rapid growth is mainly attributed to the growing demand for environment-friendly protein-rich foods, rising investments in the farming of novel protein sources and development of innovative & cost-effective processing technologies, and increasing acceptance of insect and single-cell proteins as food.

Based on application, the pet food protein ingredients market in Europe is segmented into dry pet foods, wet pet foods, veterinary diets, treats and snacks, and other products. In 2021, the dry pet foods segment is estimated to account for the largest share of the European pet food protein ingredients market. The segment's large share is mainly attributed to the dry pet foods' long shelf life, cost-effectiveness, ease of storage, and high energy content. However, the veterinary diets segment is expected to register the highest CAGR during the forecast period 2021–2028. This segment's rapid growth is mainly attributed to the increasing need and demand for health-oriented pet food products, specialized pet food products for different breeds, and products specifically formulated for pets of different ages and physiological needs.

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Based on country, France is estimated to account for the largest share of the European pet food protein ingredients market. This country's prominent position in this market is primarily attributed to the well-established pet food manufacturing sector, increasing demand for novel proteins, and increased pet food product launches in France. However, Germany is expected to register the highest CAGR during the forecast period. The rapid growth of this country-level market is mainly attributed to the growing adoption of high-protein diets for pets and the increasing demand for functional and vegan pet foods.

The key players profiled in the European pet food protein ingredients market are Cargill, Incorporated (U.S.), Roquette Frères Le Romarin (France), DuPont de Nemours, Inc. (U.S.), Kerry Group plc (Ireland), Ingredion Incorporated (U.S.), Archer Daniels Midland Company (U.S.), Enterra Feed Corporation (Canada), Protix B.V. (Netherlands), Alltech (U.S.), BHJ A/S (Denmark), Symrise AG (Germany), Omega Protein Corporation (U.S.), SARIA A/S GmbH & Co. KG (Germany), Darling Ingredients Inc. (U.S.), and BENEO GmbH (Germany).

The key players operating in the European pet food market are Mars, Incorporated (U.S.), Nestlé S.A. (Switzerland), Tiernahrung Deuerer GmbH (Germany), Affinity Petcare S.A. (a part of Agrolimen SA) (Spain), Colgate-Palmolive Company (U.S.), The J.M. Smucker Company (U.S.), Monge & C. S.p.A. (Italy), Versele-Laga (Belgium), heristo Aktiengesellschaft (heristo AG) (Germany), United Petfood (Belgium), Partner in Pet Food (a part of Cinven) (Hungary), Farmina Pet Foods Holding B.V. (Netherlands), and Vafo Group a.s. (Czech Republic).

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Key Questions Answered in the Report:

Which are the high-growth market segments in terms of source, application, and country?
What is the historical market size of the pet food protein ingredients market in Europe?
What are the market forecasts and estimates for the period 2021–2028?
What are the major drivers, restraints, challenges, opportunities, and trends in the European pet food protein ingredients market?
Who are the major players in the European pet food and pet food protein ingredients markets?
How is the competitive landscape?
What are the recent developments in the European pet food and pet food protein ingredients markets?
What are the different strategies adopted by the major players in this market?
What are the key trends, and which are the high-growth countries?
Who are the local emerging players in the European pet food protein ingredients market, and how do they compete with the other players?
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