SAN FRANCISCO, June 24, 2020 /PRNewswire/ -- The global pet food processing market size is expected to reach USD 6.61 billion by 2027 registering a CAGR of 4.5%, according to a new report by Grand View Research, Inc. Increasing demand for automation in pet food processing, coupled with the growing demand for processed food, is expected to drive the market growth over the forecast period. The increasing number of pets across the globe is anticipated to have a positive impact on the market growth. Furthermore, rising awareness pertaining to the advantages of premium pet food products is expected to bolster the demand for various innovative and efficient food processing equipment.
Increasing concerns regarding pet health have resulted in augmenting the demand for premium-quality food products, which, in turn, will support the overall market growth. Furthermore, rising penetration of high-quality commercial products has resulted in an increased the demand for innovative & specialized machinery, thereby driving the market. However, the depreciation of the processing equipment over the years is expected to hamper the growth over the forecast period.
Key suggestions from the report:
- U.S. accounted for over 80% of the North America regional market revenue share in 2019 owing to the increased pet population, which augmented the demand for pet foods
- Forming equipment accounted for 31.1% of the global revenue share in 2019 and is anticipated to continue its dominance over the forecast period owing to the rapid shift towards usage of extrusion-based pet food production
- Asia Pacific is estimated to be the second fastest-growing regional market at a CAGR of 5.7% from 2020 to 2027 due to rapidly expanding pet food industry in the region
- Dry food accounted for 72.0% of the global revenue share in 2019, on account of its cost-effectiveness and attributes, such as convenience, in terms of feeding and storage
- The industry participants are engaged in expanding their geographical presence through mergers & acquisition and provide a wide range of equipment and customization services to obtain a competitive edge
Read 125 page research report with ToC on "Pet Food Processing Market Size, Share & Trends Analysis Report By Equipment (Mixing & Blending, Forming, Baking & Drying, Coating, Cooling), By Form (Wet, Dry), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/pet-food-processing-market
Grand View Research has segmented the global pet food processing market on the basis of equipment type, form, and region:
- Pet Food Processing Equipment Type Outlook (Revenue, USD Million, 2016 - 2027)
- Mixing & Blending
- Forming
- Baking & Drying
- Coating
- Cooling
- Others
- Pet Food Processing Form Outlook (Revenue, USD Million, 2016 - 2027)
- Wet
- Dry
- Pet Food Processing Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- U.K.
- Asia Pacific
- China
- India
- Japan
- Australia
- Central & South America
- Argentina
- Brazil
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
- Lis of Key Players of Pet Food Processing Market:
- 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
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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