In 2022, the global Pet Food Processing for Forming Market was valued at USD 6.0 Billion. It is projected to reach USD 9.31 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5% during the forecast period. The growth in market revenue can be attributed to several factors, including the increasing number of pet owners worldwide, the trend of humanizing pets, and the growing popularity of high-end pet food products.
The escalating rate of pet ownership worldwide is a significant driving force behind the expansion of the pet food production market. In the United States alone, as per the American Pet Products Association, approximately 85 million households, accounting for 67% of all households, own pets. The adoption of pets has witnessed a substantial rise, mainly due to the prevalence of nuclear families and single-occupancy residences. As a result, the demand for pet food has surged, leading to the expansion of the pet food production market.
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Top Companies Operating in the Global Pet Food Processing for Forming Market Report:
- Nestle S.A.
- Mars, Incorporated
- Hill's Pet Nutrition, Inc.
- Colgate-Palmolive Company
- Blue Buffalo Company, Ltd.
- Diamond Pet Foods
- Purina Mills, LLC
- Royal Canin SAS
- J.M. Smucker Company
- WellPet LLC
- Ainsworth Pet Nutrition
The factors that drive the industry's growth are highlighted in the report. The report divides the Pet Food Processing for Forming Market into main categories such as forms, applications, end-users, technology, and others for a better understanding. These segments are thoroughly examined in order to provide a more accurate outlook for the global and regional markets. The report also examines the industry's major players, including their product portfolios, company overviews, strategic growth strategies, revenue generation, market share and size, geographic presence, and development and manufacturing capabilities.
Market Overview:
In the food and beverage sector, all businesses involved in the processing, packaging, or distribution of raw food materials are included. In addition to medications, this industry touches all human-made products, including fresh and packaged meals, alcoholic and nonalcoholic beverages.
Since the Covid-19 outbreak has caused a financial depression, consumers are trying to conserve their money as much as possible. To do this, consumers are buying more generic things and cooking their own meals instead of eating out. In order to reduce the cost of goods sold, attract more customers, and increase profit margins, food processing companies are becoming more creative.
As a result of obesity, the global food and beverage industry is experiencing tremendous growth. As consumers' desire for healthy foods has increased, so has their demand for more detailed nutrition data. Both of these changes have caused companies to launch lower-calorie foods and tighten their control over how their brands are perceived.
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This report analyzes the Pet Food Processing for Forming Market in terms of growth rate, market share, current and emerging trends, production and consumption ratios, industrial chains, demand and supply, imports, exports, revenue contribution, and key player presences in key regions. As a part of the report, a country-by-country analysis of the Pet Food Processing for Forming Market is provided to gain a deeper understanding of its growth and progress.
The global Pet Food Processing for Forming Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Processing Equipment Type Outlook:
- Mixing Blending
- Forming
- Baking Drying
- Cooling
- Others
Pet Type Outlook:
- Dogs
- Cats
- Birds
- Fish
- Others
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