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Pet Food Processing Market Projected to Garner Significant Revenues by 2026

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Pet Food Processing Market Projected to Garner Significant Revenues by 2026

February 09
01:31 2021
Pet Food Processing Market Projected to Garner Significant Revenues by 2026

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 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% during the forecast period. The increasing trend of product premiumization among pet food manufacturers and the rising acceptance of pets across regions are factors that are projected to contribute to the growth of the market during the forecast period. Furthermore, the increasing consumer trends related to pet food products, such as the increasing preference for high-quality commercial pet food products, are projected to encourage processing equipment manufacturers to opt for specialized and innovative machinery for pet food production. These factors are projected to drive the market growth.

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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