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Pet Food Processing Market to Witness Unprecedented Growth in Coming Years

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Pet Food Processing Market to Witness Unprecedented Growth in Coming Years

September 16
01:00 2020
Pet Food Processing Market to Witness Unprecedented Growth in Coming Years

MarketsandMarkets™
The global pet food processing market size is projected to grow from USD 4.4 billion in 2019 to USD 6.2 billion by 2026, recording a CAGR of 5.0%

The report Pet Food Processing Market by Type (Mixing & Blending Equipment, Forming Equipment, Baking & Drying Equipment, Cooling Equipment, Coating Equipment), Form (Dry, Wet), Application (Dog Food, Cat Food, Fish Food), and Region – Global Forecast to 2026″, is projected to grow from USD 4.4 billion in 2019 to USD 6.2 billion by 2026, recording a CAGR of 5.0% during the forecast period. The major factors driving the growth of the pet food processing market include the increasing trend of pet food product premiumization, rising pet adoption, and acceptance of pets across regions.

Pet Food Processing Market

The dog food segment is estimated to account for the largest share in 2019 in the market.

The dog food segment is estimated to dominate the pet food processing market, on the basis of application, in terms of value, in 2019. Dog food is witnessing increased demand due to the increasing dog population across regions. The increasing trend of pet humanization has also encouraged dog owners to accept them as companions due to their friendliness, which is projected to drive the demand for premium dog food products, thus contributing to the growth of the overall market.

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The dry segment is projected to account for the largest share during the forecast period.

Dry pet food production is increasing, and its sales are projected to remain high in developing countries, such as China, Russia, and Poland. The demand for dry pet food products is increasing due to the cost-effectiveness of dry form, convenience in handling, and ease of purchasing in bulk. In addition, with the increase use of extrusion technologies, dry pet food production remains high. These factors are projected to drive the demand for pet food processing solutions.

The Asia Pacific region is projected to be the fastest-growing market for pet food processing during the forecast period.

The Asia Pacific region is projected to be the fastest-growing market for pet food processing during the forecast period. The region witnesses a high demand for pet food products due to the increasing acceptance of pets. The rising concerns among pet owners regarding the health of pets have led to an increase in demand for high-quality pet food products that require specialized machinery. These factors are projected to create growth opportunities for equipment manufacturers in countries such as India, China, Japan, and Thailand.

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The pet food processing market comprises major players, such as Andritz Group (Austria), Buhler Holding AG (Switzerland), The Middleby Corporation (US), GEA Group (Germany), Baker Perkins Ltd. (UK), Clextral SAS (France), Precision Food Innovations (US), Mepaco Group (US), Coperion GMBH (Germany), F.N. Smith Corporation (US), Reading Bakery Systems (US), and Selo (Netherlands). The study includes an in-depth competitive analysis of these players in the pet food processing market, with their company profiles, recent developments, and the key market strategies.

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