The Pet Food Processing Market valued at US$ 6,684.4 million in 2024, is set for significant growth, projecting a CAGR of 4.0% from 2024 to 2034. By 2034, the market is expected to reach an impressive US$ 9,112.7 million. Rising pet adoption rates globally and the evolving trend of treating pets as family members contribute to the escalating demand for pet food processing.
As consumers increasingly prioritize pet nutrition, the demand for pet food processing is on the rise. The market thrives on the surge in pet adoption, with sales of pet food benefiting from this trend. Pet owners’ inclination towards diverse ingredients, including leafy vegetables and oats, underscores the evolving nature of the pet food industry. Advanced processing equipment is enhancing efficiency, enabling increased production to meet the growing demand.
“The trend among pet owners is to treat the pet as a member of the family. Thus, the focus of pet owners is not just on nutrient-rich essential food. Pet owners are also buying bite-sized treats in the form of kibbles or biscuits for their pets. The manufacturing of pet treats represents a significant opportunity for pet food processing,” says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).
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The pet food processing industry’s evolution includes the adoption of newer and more efficient processes, such as extruding and high-pressure processing (HPP). This accelerated processing, coupled with a diverse range of ingredients, fuels the positive outlook of the animal food processing sector. Sustainable practices, the use of insect feed, and innovations like microalgae and yeast in pet food formulation showcase the industry’s commitment to progressive and environmentally friendly approaches.
Key Takeaways from the Pet Food Processing Market
- The pet food processing market is anticipated to be US$ 6,684.4 million in value in 2024.
- Dry food is the most manufactured form in pet food processing. For 2024, dry pet food is expected to contribute to 65% of the market share.
- Pet food processing predominantly produces dog food. Dog food is anticipated to account for 45% of the market share.
- Japan is one of the most promising countries in the market. The CAGR for Japan over the forecast period is anticipated to be 6.0%.
- China is another Asian country where significant growth is predicted. For the 2024 to 2034 period, the CAGR for China is pegged at 5.0%.
- The market is expected to register a CAGR of 5.6% in Germany over the forecast period.
Competition Analysis of the Pet Food Processing Market
Improvement in processing facilities by establishing new plants or making improvements to existing ones is a key concern for many market players. Start-up culture is evident in the market. Many small-scale companies are being taken over by multinational giants, while others are looking for investments.
Following are the prominent companies in the market:
- Buhler Holding AG
- GEA Group
- The Middleby Corporation
- Andritz Group
- Selo
- Baker Perkins Ltd.
- Purina
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Recent Developments in the Pet Food Processing Market
- In December 2023, Nugape Pet Food was the recipient of a certificate from the International Featured Standards (IFS) highlighting the company’s commitment to safety and sustainability.
- In November 2023, Bioriginal Food & Science Corp. acquired Softgel Co.
- In August 2023, Chinese market player Gambol Pet Group raised funding to the tune of US$ 219.7 million after going public.
Key Segments
By Product Type:
- Mixing & Blending Equipment
- Forming Equipment
- Baking & Drying Equipment
- Cooling Equipment
- Others
By Form:
- Wet Food
- Dry Food
By Application:
- Dog Food
- Cat Food
- Fish Food
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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