“Pet food processing market by equipment is projected to grow at a CAGR of 3.5%”
The pet food processing market, by equipment, is projected to reach USD 4.3 billion by 2022 at a CAGR of 3.5% from 2016. The market is catapulted by the increasing usage of processed pet food products driven by factors such as rising trend of keeping pets, benefits of using processed and packaged pet food such as ease of feeding, nutritious & balanced diet for pet, and helath benefits among others. There is a high growth potential in developing markets such as Brazil, Argentina, China, India, and Thailand among others which provide new development opportunities for market players. The concerns regarding the usage of new ingredients and their impact on processing is expected to restrict the market.
“Dog food segment is estimated to hold the largest market share in 2016”
The dog food segment is estimated to hold the largest market share in 2016. There is an increasing awareness to fulfill the nutrional needs of pets in the urban households where pet parents have time constraint in preparing pet food at home; moreover they rely of packaged pet food as it is easy to serve and feed, and come along with the assurance of being a balance & nutritious diet. The dietary trend and premium products are expected to drive the overall growth in the dog food market. The addition of innovative and healthier products in the pet food market is expected to result in investments in innovative machinery, which will drive demand for various pet food processing equipment.
“North America was the largest market in 2015, whereas Asia-Pacific is projected to grow at the highest CAGR between 2016 and 2022.”
North America serves as a mature market for the pet food processing industry. The U.S. is the dominant market in this region. In order to meet end-user requirements and ensure product differentiation, equipment manufacturers have been encouraged to introduce new products that are more efficient, durable, and dependable. Asia-Pacific is projected to be the fastest-growing regional market for pet food processing equipment during the forecast period. Pet owners have become increasingly aware of the unique nutritional requirements of different pets, which is driving the demand for pet food. Thus, it is expected to have a positive influence on the growth of the pet food processing equipment market. Countries in this region are focusing on product safety to meet the demand for good pet health.
The breakdown of primaries on the basis of company, designation, and region, conducted during the research study is given below.
- By Company Type: Tier 1 – 46%, Tier 2 – 26%, and Tier 3 – 28%
- By Designation: C Level – 57%, Manager Level – 24, and Others – 19%
- By Region: North America – 25%, Europe – 18%, Asia-Pacific – 36%, and RoW – 21%
Key players are as follows:
- ANDRITZ AG (Austria)
- Clextral SAS (France)
- Buhler AG (Switzerland)
- Baker Perkins Ltd. (U.K.)
- Middleby Corporation (U.S.).
Other players with a strong presence in this market are as follows:
- Meyer Industries, Inc. (U.S.)
- Coperion GmbH (Germany)
- F. N. Smith Corporation (U.S.)
- Markel Food Group (U.S.).
This research report categorizes the pet food processing market based on equipment type, animal, and region. Based on equipment type, the market has been segmented into mixing & blending equipment, forming equipment, baking & drying equipment, and other equipment. Based on animal, the market has been segmented into dog, cat, and other animals. The regional segmentation of the market includes North America, Europe, Asia-Pacific, and RoW (Rest of the World).
Reasons To Buy this report
From an insight perspective, this research report has focused on various levels of analyses?industry analysis (industry trends), and company profiles, which together comprise and discuss the basic views on the competitive landscape?emerging and high-growth segments of the global pet food processing equipment market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following:
- Market Penetration: Comprehensive information on the pet food processing equipment offered by top players in the global market
- Product Development/Innovation: Detailed insights on upcoming pet food processing techniques or types, research & development activities, and new product launches in the pet food processing market by equipment
- Market Development: Comprehensive information about lucrative emerging markets
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global pet food processing equipment market
- Competitive Assessment: In-depth assessment of market share, strategies, products, and manufacturing capabilities of leading players in the global pet food processing market (by equipment)