Future Market Insights reports a thriving pet food processing market, driven by increasing pet ownership and demand for specialized pet food. The market, valued at US$ 6,684.4 million in 2024, is expected to grow at a CAGR of 4.0% until 2034, reaching US$ 9,112.7 million.
Key Points:
- Pet food processing meets the demand for specialized pet food, driven by rising pet adoption.
- Advanced equipment and techniques enhance efficiency and expand raw material variety.
- Dry pet food dominates, contributing 65% to the market share in 2024.
- Dog food comprises 45% of the market share, with Japan and China showing significant growth.
- The market is expected to register a CAGR of 5.6% in Germany.
Competition Analysis:
- Key players include Buhler Holding AG, GEA Group, The Middleby Corporation, Andritz Group, Selo, Baker Perkins Ltd., and Purina.
Recent Developments:
- Nugape Pet Food receives safety and sustainability certificate in December 2023.
- Bioriginal Food & Science Corp. acquires Softgel Co. in November 2023.
- Gambol Pet Group raises US$ 219.7 million in August 2023 after going public.
For more details, refer to the comprehensive FMI report.
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