Pet Food Processing Market by Product (Dry Food, Wet Food, Nutritious Food, Snacks, and Others); By Application (Dog, Cat, Fish and Other); and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[170+ Pages Research Report] Pet Food Processing Market to surpass USD 8.12 billion by 2030 from USD 4.82 billion in 2020 at a CAGR of 4.7% in the coming years, i.e., 2021-30.
Pet food is manufactured for the consumption of pets and is obtained from plant or animal sources. When the number of pet owners grows, so does the market for safe and organic pet food. As a result, the pet food manufacturing industry is constantly trying to come up with new products to meet consumer demand. Different types of pet food are made for various animals, such as dogs, cats, and others. In the market, both dry and wet pet foods are in high demand. This sector is influenced by the involvement of various country governments in encouraging the use of nutritious and natural ingredients in pet food to improve pet health. Additionally, propelling the pet food production industry is the fast availability of pet foods in supermarkets and hypermarkets, specialty shops, grocery stores, online stores, and other locations.
Global Pet Food Processing Market is expected to project a notable CAGR of 4.7% in 2030.
The growth of online stores is also propelling the selling of high-end products. Buyers in the pet food industry want products that are grown in the United States, are natural or have digestive benefits. As a result, there is a need for quality and specialty pet foods, which is propelling the pet food manufacturing industry forward.
Dry food segment to grow with the highest CAGR during 2020-30
Global Pet Food Processing Market is segmented by product into Dry Food, Wet Food, Nutritious Food, Snacks, and Others. Dry food segment held the largest market share in the year 2020. Dry food helps dogs maintain good oral hygiene by eliminating plaque and reducing tartar accumulation on their teeth. Furthermore, this product type provides the crunch and chewing that animals need to preserve their overall health. Dry food does not need the same amount of freezing as canned food. The high moisture content of this product category helps to keep pets hydrated while also being helpful to the urinary tract. However, the high price of the product, especially meat-based protein canned food, could limit consumer preference, limiting segment growth over the forecast period.
Dog segment to grow with the highest CAGR during 2020-30
Global Pet Food Processing Market is segmented by application into dog, cat, fish, and others. Dog segment held the largest market share in the year 2020. During the forecast period, it is predicted to be the largest and fastest-growing market. Increased public understanding of pet wellbeing has resulted in a greater emphasis on improving dog weight and preserving their overall health. Customers choose from a variety of foods and place a high value on product brands. Manufacturers are actively working to break into the premium food goods market and increase their overall profit margin. The trend of owning multiple cats is continuing to develop, resulting in increased product demand. In comparison to dogs, cats need less training and can spend more time alone. Furthermore, the expense of owning a cat is comparatively low as compared to that of owning a dog.
Rise in technological production and expansion of product lines
The pet humanization trend has resulted in a rise in health consciousness, resulting in a demand for sugar-free, grain-free, dye-free, and other chemical-free pet food. The availability of goods via E-commerce, as e-commerce offers customers competitive pricing, convenience, and a wide range of products. E-commerce, a distribution platform that is increasingly aimed at the millennial generation, provides many advantages to pet owners, including personalized merchandise and home delivery convenience. E-commerce may also be used to market goods with special health benefits or food for pets with special needs. An increase in the production of technologically advanced products in the pet food industry, mounting demand for automation, and growing use of processed and packaged pet food are all contributing to the market's growth. Furthermore, pet food manufacturing companies' expansion of product lines with new products is having an effect on this business.
Increased usage and surging demand from end-users
The pet food production industry has grown significantly as a result of factors such as the increased use of these pet foods for various pets such as dogs, cats, rabbits, and other small animals. In the process of manufacturing pet foods, various machinery is used, including mixing and blending equipment, shaping equipment, baking, and drying equipment, cooling equipment, coating equipment, and others. Nonetheless, market players' research and development activities can open up new opportunities for this market.
Fluctuating raw material prices
The pet Food Processing market's growth will be hampered in the near future by fluctuating raw material prices.
Diamond Pet Foods
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Pet Food Processing Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Global Pet Food Processing Market in APAC held the largest market in the year 2020. After Asia Pacific, North America has emerged as one of the most important regional pet food markets. Rising consumer understanding of the positive effect on pet wellbeing, as well as the growing trend of humanization of pets, are driving regional demand for pet food. The growing trend of millennials adopting pets is expected to boost business growth even further. Europe is a significant market for high-quality pet food. Due to the high rate of cat ownership in the country, cat food items are the market leaders.
Global Pet Food Processing Market is further segmented by region into:
Pet Food Processing Segments:
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