Pet Food Processing Market Worth Observing Growth by 2026: Andritz Group, Buhler Holding AG
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 pet food processing players include 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).
Expansions and acquisitions were the dominant strategies adopted by major
players. These strategies have helped them to expand their manufacturing
facilities for pet food processing and further support the market growth.
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Scope of the report
Based on Application,
the market has been segmented as follows:
• Dog food
• Cat food
• Fish food
• Other
applications (pet food for tortoises, rabbits, and ornamental birds)
Based on Form, the
market has been segmented as follows:
• Dry
• Wet
Based on the Type,
the market has been segmented as follows:
• Mixing
& blending equipment
• Forming
equipment
• Baking
& drying equipment
• Coating
equipment
• Cooling
equipment
• Other
types (vacuum pumping and stuffing machines)
Based on the Region,
the market has been segmented as follows:
• North
America
• Europe
• Asia
Pacific
• South
America
• RoW (the
Middle East and Africa)
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The increasing demand for wet pet food products is mainly
due to its high nutritional content and the presence of animal-based proteins,
which is essential for the development of pets. Though it is less economical,
the increasing trend of pet humanization and product premiumization has
encouraged increasing demand for premium and high-quality pet food products
among pet owners. These factors are projected to drive the growth of the wet
segment in the pet food processing market.
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 Nov 10th 2020 07:01. Viewed 218 times.