Pet Food Processing Market Size, Growth & Forecast | 2031

Report Description

The global pet food processing market size was nearly USD 5.2 Bn in 2022 and is likely to reach USD 8.1 Bn by 2031, expanding at a CAGR of 5.2% during 2023–2031. Increasing demand for processed and specialized food products is expected to fuel the market.

Pet food processing includes the manufacturing and packaging of foods for companion animals. It uses various necessary methods that ensure the full safety of food nutrition during the manufacturing process. The production of pet food is quite similar to processed food in terms of fresh feedstock and flesh products.

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Pet food processing ensures that the food products are safe and rich in an adequate amount of nutrition and calories that are required for pets. It enables all kinds of pets to obtain the maximum possible nutritional value of food.

Pet food processing deals with the manufacturing and development of speciality or premium quality food for domesticated animals or pets, which are formulated as per the nutritional needs of the pets. It is much more similar to the normal processed food for humans. Pet foods consist of flesh, which is required to be processed and separate the water, fat, and protein components.

The market report finds that the COVID-19 pandemic adversely affected the market. The Pandemic slowed down the overall revenue generation due to the prolonged shutdown of manufacturing units across industries. Moreover, government-imposed containment measures, including social distancing, emergency lockdowns, and travel restrictions led to labor shortages and delays in raw material supplies, which disrupted the overall supply chain of the market.

Pet Food Processing Market Dynamics

Key Trends

Do It Yourself (DIY) pet food is a growing trend in the market. A large number of pet owners are now making their own pet foods at home, due to the rising concerns regarding the quality and safety offered by commercially available products. Thus, pet owners are trying to customize foods by their own to meet the requirement.

Major Drivers

Growing rate of pet ownership along with the rising pet humanization is expected to drive the market during the forecast period. Moreover, increasing demand for premium quality food products, due to the rising disposable income of consumers and the growing awareness regarding healthy feeds are likely to boost the market.

Rising adoption of vegan pet food is another major factor driving the market. Vegan food is highly beneficial for pets’ health, as it can easily digest. However, pet owners expect their pets’ food to be unadulterated. Therefore, pesticide-free organic food is gaining high preference, which accelerates the market.

Existing Restraints

High initial investment associated with pet food processing is expected to hinder the market. Advanced food processing equipment is quite expensive. Thus, setting up a manufacturing unit requires a high initial cost. Moreover, fluctuation in raw material prices is likely to restrain the market growth to a certain limit.

Emerging Opportunities

Increasing automation in the manufacturing process is likely to create immense growth opportunities in the market. Thus, manufacturers are willing to adopt advanced equipment to boost their product expansion. Furthermore, the rising demand for personalized pet food is likely to fuel the market.

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Scope of Pet Food Processing Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Pet Food Processing Market Segment Insights

Based on equipment type, the pet food processing market is segregated into mixing & blending, baking & drying, forming, coating, and cooling. The forming segment is projected to register a robust growth rate in the coming years, as forming equipment is necessary to create the base for manufacturing pet food products. This equipment helps in shaping and sizing the solid particles present in the raw feed.

The mixing & blending segment is anticipated to grow at a rapid pace during the projection period, due to the growing requirement for automation in the manufacturing process of pet food. This type of equipment is used for mixing two or more ingredients or raw materials that are unable to mix properly with hands.

The baking & drying segment is estimated to hold a key market share during the projected period, as it considers the essential equipment in food processing. It includes dryers, ovens, toasters, and fryers to cook or dry intermediate pet food products. It removes the excess water from the product and enhances the shelf life. Rising demand for baked snacks & treats is expected to drive the segment.

On the basis of food form, the market is bifurcated into dry and wet. The dry segment is expected to expand at a considerable CAGR during the assessment period, owing to its cost-effectiveness and longer shelf life compared to wet food. Dry pet food supports oral care by preventing tartar buildup on teeth. It provides the necessary crunch, which maintains the health of pets’ teeth. Rising demand for healthy snacks and treats is further likely to boost the segment.

The wet segment is estimated to grow at a significant growth rate during the forecast period, as it contains high moisture content and essential protein compared to dry food. Wet pet food is ideal for the better functioning of the pet’s urinary tract as it helps to meet the demand for water if the pet is not taking a satisfactory amount of water. It helps to build lean mass and keep the pet hydrated.

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Based on application, the market is segmented into dog food, cat food, fish food, and others. The dog food segment is projected to account for a key share of the market in the coming years, due to the rising dog population across the globe. Dogs are active in nature and have high appetites, which require adequate nutrition to boost energy. The segment growth is further attributed to the increasing adoption of purebred dogs.

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The cat food segment is anticipated to expand at a high CAGR during the projection period, owing to the rising adoption of cats among low-income families. Cats are easy to care for and require low expenses for maintenance compared to dogs. The rising trend of owning multiple cats is likely to contribute to the segment growth.

In terms of region, the global pet food processing market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the assessment period, owing to the presence of leading players in the region. The regional market growth is further attributed to the abundant availability of diverse food products and the growing adoption rate of dogs.

The market in Asia Pacific is anticipated to grow quickly in the coming years, due to the rising humanization of pets. However, the growing trend of adopting injured pets from rescue organizations and the rising adoption of cats as a pet among the middle-class population are likely to propel the market.

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