Pet Food Processing Market Growth Factors, Ongoing Trends and Key Players 2026
by Mit K. SEOThe 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 compound annual growth rate
(CAGR) of 5.0% during the forecast period. The increasing trend of pet food
product premiumization and the rising acceptance of pets across regions are
factors that are projected to drive the growth of the pet food processing
market. Furthermore, acceptance of pets as family members among pet owners,
increasing disposable income, and rising urbanization are factors that are also
projected to drive the market growth.
Key Players in the
Market:
• 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)
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The dog food segment
is estimated to account for the largest share 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.
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 forming equipment
segment in the market is projected to dominate the market.
The forming equipment segment is estimated to dominate the
market in 2019. Pet food processors are shifting their focus toward
extrusion-based manufacturing. The introduction of new extrusion technologies
and its use in the pet food sector are factors that are projected to drive the
demand for forming equipment in the market.
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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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Created on Feb 25th 2021 06:20. Viewed 229 times.