NEW YORK, Dec. 18, 2017 /PRNewswire/ -- The pet food extrusion market is projected to grow at a CAGR of 5.6%.
The pet food extrusion market is projected to grow at a CAGR of 5.6% from 2017, to reach USD 72.64 billion by 2022. The demand for extruded pet food products is projected to be on the rise, owing to factors such as the growth in pet adoption, pet humanization, and rapid urbanization in the developed countries.
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Along with the increase in pet population, the global pet food industry has also been expanding owing to the increasing expenditure of pet owners on a variety of pet food products. Pet owners consider their pets to part of the family and provide nutritional pet food products; these are the most significant factors that are positively impacting the demand for premium extruded pet food products with high nutritional value.
However, few stringent regulations related to the ingredients utilized in extruded pet food products may hamper the growth of extruded pet food products market during the review period. The demand for pet food extrusion equipment are also growing remarkably due to various benefits; the extrusion process increases the digestibility of pet food products as well as destroys the microorganisms and toxic compounds that are harmful to pets.
Thus, pet food manufacturers are actively opting for pet food extrusion equipment owing to the above-mentioned advantages and to fulfill the growing demand for pet food products with better health benefits. Therefore, the pet food extrusion equipment market is projected to grow significantly during the review period
The dog segment, by animal type, is projected to be the fastest-growing in the extruded pet food products market.
In terms of both value and volume, the dog segment is projected to grow at the highest CAGR between 2017 and 2022. The rapid urbanization and changes in lifestyles of the urban population have driven people to adopt pets such as dogs to fulfill their companionship needs.
Consumers are willing to pay more attention to dog food products that contain organic, natural, and sustainable ingredients; this drives the sales of premium extruded dog food products and healthy extruded dog treats across the world. Hence, the demand for extruded pet food products in the dog segment is projected to witness significant growth in the coming years.
North America is projected to dominate the extruded pet food products as well as pet food extrusion equipment markets during the review period.
In the global extruded pet food products market, North America is projected to be the largest region, in terms of value and volume, between 2017 and 2022. This region comprises developing economies such as the US and Canada which occupy a significant share of the global extruded pet food products market.
Growth in pet adoption, rise in the pet population, and the increasing trend of pet humanization are the main factors contributing to the growth of the North American extruded pet food products market. The active developments strategized by the dominant players in the US and Canada also act as a driving factor in tapping the extruded pet food products market in the North American countries.
In the pet food extrusion equipment market as well, North America is expected to be the largest region, in terms of value and volume, between 2017 and 2022. Major pet food equipment manufacturers are concentrated in this region, due to the number of key pet food players and high-volume demand for extruded pet food in countries such as the US and Canada.
In this region, pet owners consider their pets as part of their family and thus, are demanding pet food that ensures nutritional benefits, enhances immunity and digestibility, along with the safety of the animals. These are some of the key drivers for the increase in the usage of extruded pet food products in the North American region.
Break-up of primaries:
• By Company Type: Tier 1 – 25 %, Tier 2 – 48%, and Tier 3 – 27%
• By Designation: C level – 45%, Director level – 32%, and Others – 23%
• By Region: North America – 33%, Europe – 21%, Asia Pacific – 36%, South America 6%, and RoW – 4%
The market for pet food extrusion equipment is dominated by key players such as Andritz (Austria), Buhler (Switzerland), Clextral (France), Pavan (Italy), Diamond America (US), Lindquist Machine (US), The Bonnot (US), Kahl Group (Germany), Baker Perkins (UK), Coperion (Germany), Doering Systems (US), Brabender (Germany), and American Extrusion International (US), while the market for extruded pet food products is dominated by Mars (US), Nestle (Denmark), and The J.M. Smucker Company (US). s
The extruded pet food products market has been segmented based on type, animal type, and ingredient. On the other hand, the pet food extrusion equipment market has been segmented based on type and process.
In terms of insights, this research report has focused on various levels of analyses—industry analysis, market share analysis of top players, and company profiles—which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global extruded pet food products market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
• To get an overview of the global pet food extrusion market
• To get an overview of the key players in the pet food extrusion industries
• To gain insights of the major regions in which the pet food extrusion market is growing
• To gain knowledge of the growth of various types of pet food extrusion equipment
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