The global pet food processing market size is projected to grow from USD 4.6 billion in 2020 to USD 7.3 billion by 2026, recording a CAGR of 5.3% 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. Convenience benefits related to dry organic and natural pet food is projected to drive the product demand. Unlike most conventional pet foods, organic and natural pet foods are being used on a large scale.
Growing dog food demand along with higher traction in the premium pet food segment is anticipated to drive the pet food market over the forecast period. Dry food is witnessing rapid growth in demand as compared to other product counterparts owing to its convenience in terms of storage and feeding pets without creating a mess. This is positively influencing urban consumers to increasingly opt for dry pet food.
Canned food is more palatable to dogs and cats as this product type contains proteins, fats, and few carbohydrates. Wet/canned pet food is easy to digest and thus limits the backyard cleaning activity to minimal. Higher digestibility offered by wet food makes it preferable for cats and dogs with illnesses and those that are finicky eaters.
The rising trend of dog adoption as a companion for families is projected to propel the product demand. Particularly dogs are witnessing an upward trend in terms of the concept of humanization of pets. This has resulted in an increased number of people owning dogs and feeding them with premium food. Furthermore, rapid urbanization is among the key factors driving the market.
Some of the leading players in the Global Pet Food Processing market are Andritz Group, Clextral SAS, Baker Perkins Ltd., Buhler Holding AG, F. N. Smith Corporation, Markel Food Group, The Middleby Corporation, Mepaco Group, Meyer Industries, Inc. etc.
Report : Pet Food Processing Market - By Product (Dry Food, Wet/Canned Food, Nutritious Food, Snacks/Treats, Others) By Application (Dog, Cat, Others) By Regional (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa) - Industry Analysis, Opportunity and Forecast 2020 To 2027