Pet Food Processing Market to Grow with a CAGR of 4.2% through 2028
The growing demand for organic and premium food and the
growing trend of pet humanization is expected to drive the Global Pet Food
Processing Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Global Pet Food Processing
Market - Industry
Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Pet Food
Processing Market stood at USD 5.21 billion in 2022 and is anticipated to grow
with a CAGR of 8.72% through 2028. The global Pet Food Processing Market is
driven by several factors. One of the key drivers is the increasing consumer
awareness of pet health and nutrition, which has significantly boosted the
market's growth. Processed pet food provides essential nutritional value to
pets, resulting in improved health and growth.
Moreover, the advancement in
technology has led to the development of more sophisticated food products. For
instance, in November 2020, Nestle Purina launched pet food made from
alternative proteins, utilizing better plant resources. This innovative pet food
offers various nutritional benefits to cats and dogs, catering to their
specific taste profiles. The blend of protein sources ensures that all
essential amino acids required by cats and dogs are delivered, with varying
levels of insect proteins for each.
Furthermore, the growing
adoption of pets, such as dogs and cats, and the increased demand for
high-quality pet food have further contributed to the expansion of the pet food
processing market. In 2019, the global dog population was recorded at 9 million,
according to PFMA.
The trend of treating pets as
family members and prioritizing their nutritional needs has also played a
significant role in driving the pet food production market. Pet owners
increasingly recognize the value of high-quality pet food in promoting the overall
health and well-being of their animals. Consequently, there is a rising demand
for luxury pet food products that contain premium ingredients and offer
superior nutritional value.
Browse over 26 market data Figures spread
through 91 Pages and an in-depth TOC on "Global Pet Food Processing Market.”
Moreover, the demand for
high-end pet food items has spurred the development of cutting-edge machinery
and processes for pet food preparation. Manufacturers are investing efforts
into creating advanced tools and procedures that ensure the production of premium
pet food products with enhanced nutritional content, extended shelf life, and
improved palatability.
Additionally, the adoption of
modern pet food processing technology is driven by stringent international
regulations governing pet food manufacturing and safety. Compliance with these
regulations necessitates the use of state-of-the-art machinery and processes.
Furthermore, the increasing
popularity of pets in emerging nations, such as China, India, and Brazil, has
significantly contributed to the growth of the pet food processing industry. As
the pet ownership trend gains traction in these nations, there are lucrative
opportunities for pet food processing businesses to expand their operations.
The trend of pet humanization
has led to a rise in health consciousness, resulting in a demand for pet food
that is free from sugar, grains, dyes, and other chemicals. The availability of
products through e-commerce offers customers competitive pricing, convenience,
and a wide range of options. E-commerce, a distribution platform increasingly
targeted at the millennial generation, provides numerous advantages to pet
owners, including personalized merchandise and the convenience of home
delivery. It can also be utilized to market products with specific health
benefits or food for pets with special needs. The market's growth is being
fueled by an increase in the production of technologically advanced pet food,
the growing demand for automation, and the use of processed and packaged pet
food. Furthermore, the expansion of product lines by pet food manufacturing
companies is making an impact on this industry. The pet food production
industry has experienced significant growth due to the increased use of these
pet foods for various animals such as dogs, cats, rabbits, and other small
animals. Various machinery is used in the manufacturing process of pet foods,
including mixing and blending equipment, shaping equipment, baking and drying
equipment, cooling equipment, coating equipment, and others. However, research
and development activities by market players can create new opportunities for
this market.
However, the market for
producing pet food also faces challenges. These include the availability of
inexpensive substitutes, fluctuating raw material prices, and the short shelf
life of pet food products. Concerns regarding the safety and quality of pet food
items have also emerged as significant barriers in the industry.
In conclusion, the worldwide
pet food processing market is expected to witness significant growth during the
forecast period, driven by the demand for luxury pet food products and factors
such as increasing pet ownership and the humanization of pets. Nonetheless, the
industry may encounter challenges related to fluctuating raw material costs and
concerns about the safety and quality of pet food items. Market participants
are anticipated to benefit financially by embracing cutting-edge pet food
manufacturing technology and expanding their operations in emerging nations.
The Global Pet Food
Processing Market is segmented into equipment type, animal type, form, regional
distribution, and company.
Based
on animal type, the dog food segment held the largest market share in 2022 and
is projected to maintain its dominance throughout the forecast period. The
increasing global pet dog population is expected to be a significant driver for
the demand of processing equipment in this application segment. The cat food
segment is anticipated to exhibit a higher growth rate compared to the dog food
segment over the forecast period. This can be attributed to the growing
popularity of cats among individuals and the rising demand for processed foods
specifically formulated for cats. Furthermore, the increasing awareness among
pet owners regarding the importance of maintaining optimal health conditions
and improving the quality of life of their pets through access to enhanced
nutrition is expected to propel industry growth over the next eight years.
Manufacturers of dry foods are increasingly utilizing processing technologies
such as extrusion cooking, which offer several advantages including consistent
texture across product range, improved nutritional value through precise
proportioning, and ease of cleaning and maintenance due to integrated design
with self-heating/cooling system.
Based
on region, North America segment is expected to grow during the forecast
period. North America is projected to
emerge as the largest market for pet food processing equipment in terms of
revenue by 2022. This can be attributed to the growing demand from small and
medium-sized businesses (SMBs) throughout the region. However, the market is
expected to face challenges, including high costs associated with this type of
technology and a shortage of skilled workforce. Europe is anticipated to be the
second-largest market for pet food processing equipment by revenue in 2022.
This can be attributed to the increasing demand from SMBs across Europe.
Additionally, the region is expected to witness growth in the veterinary
industry due to the rising consumer awareness about animal health and
well-being. Asia Pacific dominated the global pet food processing equipment
market in terms of revenue share in 2019 and is expected to maintain its
dominance over the forecast period. This can be attributed to the increasing awareness
about animal health and well-being, rising disposable income levels, and rapid
urbanization in emerging economies such as India and China. Moreover, the
growing consumer demand for ready-to-eat meals is also expected to drive
regional growth in the forecast period.
Major companies operating in Global
Pet Food Processing Market are:
- Andritz Group
- Buhler Holding AG
- Clextral SAS
- Coperion GMBH
- F.N. Smith Corporation
- Mepaco Group
- Precision Food Innovations
- Reading Bakery Systems
- GEA Group Aktiengesellschaft
- The Middleby Corporation
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“The emergence of new
technologies and the increasing emphasis on clean label product development are
poised to drive growth in the pet food processing market. Leading manufacturers
are actively strengthening their distribution and supply networks to ensure
seamless availability of products to their target customers. This strategic
move is expected to yield positive results for the market in the upcoming
years.
Key players in the pet food
processing market are focusing on global expansion through strategic
acquisitions and collaborations with domestic and regional players.
Additionally, they are expanding their global footprint by introducing new pet
food-related products. Tier-1 players are also investing in research and
development activities to continuously enhance the quality of their offerings.
The market is further bolstered by the growing demand for functional food,
expanding customer base, and increasing sales through e-commerce platforms.
Furthermore, market players are diligently working towards developing clean
label pet food processing products, which is anticipated to create promising
growth opportunities in the near future.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Global
Pet Food Processing Market By Equipment Type (Mixing & Blending Equipment,
Forming Equipment, Baking & Drying Equipment, Others), By Animal Type (Dog,
Cat, Others), By Form (Dry, Wet), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth
potential of Global Pet Food Processing Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Pet Food Processing Market.
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