Global pet food processing market was valued at USD 4.62 Billion in 2019. It is projected to grow at a compound annual rate (CAGR of 4.5%) between 2020 and 2027. The market is expected to grow due to the rising demand for premium and specialized food products. The region's highest growth rate is expected to be Asia Pacific over the forecast period. The region's growth is expected to be driven by the increasing urbanization in various countries, including India, China, and Thailand. In terms of revenue in 2019, the U.S. dominated North America's market. This is due to the high disposable income and increased adoption of domestic animals such as dogs, cats and birds. The country's market growth will be boosted by the introduction of advanced technology in the pet food processing sector.
In 2019, Europe was second in revenue share. One of the main factors driving market dynamics in European economies such as France, Germany and the U.K. is the increasing awareness among pet owners about the need to provide unique nutritional requirements for their pets.
Market growth is expected to be driven by rapid development in the improvement of various pet foods and the growing trend of pet adoption around the world. Rapid urbanization is expected to lead to higher growth in emerging economies like India, Brazil, China and Brazil. This will provide new opportunities for product producers.
The demand for processing equipment will rise due to increasing consumer preference for high-quality commercial products. It is expected to spur equipment manufacturers to invest in creating specialized and innovative machinery.
In 2019, the global market leader in forming equipment was 30%. This equipment is used to create the base for pet food products. Extrusion technology, which is rapidly improving, is an essential part of forming equipment. Due to the changing demand for pet food products, extrusion-based equipment will be in high demand. Over the forecast period, the segment of mixing and blending equipment is expected to grow at a CAGR 4%.
Automation in processing equipment is responsible for this growth. The introduction of multifunctional, integrated processing systems is expected to drive segment growth. The increasing concern about pet health has led to a greater demand for high-quality pet food and a higher demand for pet food processing machines. Major manufacturers will likely invest more in developing innovative extrusion systems.
The dry pet food market accounted for 71% of the total market in 2019, and will likely continue to hold that position through the next few years. Dry foods provide excellent oral care and prevent tartar buildup. These foods are also easy to store and provide the necessary crunch and chewing for pet teeth health.
Because of the high moisture content and essential protein levels, wet pet food will experience the fastest CAGR (5%) between 2020-2027. There are many types of wet pet foods, including semi-moist, canned, and gravy treat. These products have high moisture content which helps pets stay hydrated. It also aids in the functioning of their urinary tract. High costs will limit product demand and therefore, reduce the segment's growth in the forecast period.
North America was the largest regional market, accounting for 35.7% of the total. It is expected to maintain its dominance due to the presence of industry leaders. The regional market will also grow due to the increasing demand for premium pet foods.
Europe is the second largest region due to growing demand for dry pet foods. This is due to factors such as cost-effectiveness and ease of use. Asia Pacific is expected to experience significant growth in the coming years due to the expansion of pet food industries and increased investments in pet food industry in different economies, including India, China and Thailand.
The fastest CAGR for MEA between 2020 and 2027 is expected to be in the region. Pet ownership is a popular status symbol in many countries, including Saudi Arabia and UAE. This will likely be the main driver of pet food product demand. A wide range of premium products have been in demand due to increased awareness about pet health in terms of allergies, dietary tolerances, and other issues. This will likely drive demand for pet food processing equipment in the region.
A large number of manufacturers are a hallmark of the market. Companies are involved in extensive R&D to create innovative systems that reduce errors and downtime during manufacturing. These equipment also allow for detailed tracking of both the product and inventory. To strengthen their market position, many companies have implemented expansion strategies such as mergers or acquisitions with major market players. The following are some of the most prominent players in pet food processing:
ANDRITZ
GEA Group
Buhler Holding AG
The Middleby Corporation
Baker Perkins LTD.
Precision Food Innovations
Clextral SAS
Reading Bakery Systems
Mepaco Group
Precision Food Innovations
F.N. Smith Corporation
Selo
Up Market Research published a new report titled “Pet Food Processing Market research report which is segmented by Equipment (Mixing & Blending, Coating, Cooling, Baking & Drying, Forming), by Form (Dry, Wet), By Players/Companies FN Smith Corporation, Clextral SAS, Reading Bakery Systems, Baker Perkins LTD, GEA Group, Precision Food Innovations, The Middleby Corporation, Precision Food Innovations, Selo, ANDRITZ, Buhler Holding AG, Mepaco Group”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Pet Food Processing Market Research Report |
By Equipment | Mixing & Blending, Coating, Cooling, Baking & Drying, Forming |
By Form | Dry, Wet |
By Companies | FN Smith Corporation, Clextral SAS, Reading Bakery Systems, Baker Perkins LTD, GEA Group, Precision Food Innovations, The Middleby Corporation, Precision Food Innovations, Selo, ANDRITZ, Buhler Holding AG, Mepaco Group |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 234 |
Number of Tables & Figures | 164 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Equipment (Mixing & Blending, Coating, Cooling, Baking & Drying, Forming), by Form (Dry, Wet).
Pet Food Processing Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Pet Food Processing Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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