The global pet food extrusion market is anticipated to expand significantly, exhibiting a CAGR of 6.2% during the forecast period. The valuation of the market is expected to reach US$ 78.57 billion in 2023. The market size of pet food extrusion is anticipated to surpass US$ 143.39 billion by the year 2033.
Because extrusion technology makes it possible to produce pet food that has all of the essential vitamins and minerals that animals need, it is becoming more and more popular in the pet food industry. Giving their pets a healthy and complete diet is now easy for pet owners, as there is no need for extra meals or nutrients.
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One of the key reasons fueling the expansion of the pet food extrusion market is the global upsurge in awareness of animal health. The boom in pet humanization and the growing emphasis on natural and grain-free goods both speed up market expansion. The market is also influenced by the rise in spending in the pet business and the increasing desire for feeding items designed to improve the productivity and health of domesticated animals.
The market has undeniably seen commendable growth as a result of rising investment levels in the pet industry, growing pet owner investment for various pet foods, increasing prevalence of extrusion machines and equipment, as well as demand for pricey food products for long-lived pets.
Another key determinant of the demand for extruded pet food products globally is the growing pet population. On the other hand, the market is expected to see growth during the forecast period due to the increasing need for food extrusion.
Owing to the exponential growth of the pet food processing sector and the presence of significant corporations in the region, North America dominates the global pet food extrusion market. Given the increase in investments in the region, Asia Pacific is anticipated to have considerable growth throughout the forecast period.
Key Takeaways
- In China, the market is expected to reach a value of US$ 38.47 billion by 2033, expanding at a CAGR of 10.1% during the forecast period.
- During the projection period, a CAGR of 4.5% is anticipated for the market in Germany.
- During the projection period, a CAGR of 3.6% is predicted for the market in Japan.
- The complete diets segment is anticipated to secure a 6.7% CAGR to reach US$ 104.03 billion by 2033.
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Competitive Landscape:
The top manufacturers of the pet food extrusion market are American Extrusion International, Andritz, Baker Perkins, Brabender, Buhler, Clextral, Coperion, Diamond America, Doering Systems, Kahl Group, Lindquist Machine, Mars, Nestle, Pavan Group, The Bonnot Company, The J.M. Smucker Company, and others.
To fulfill customer needs and stay competitive, manufacturers in the pet food extrusion industry are extending product lines, adding natural ingredients, emphasizing sustainability, adopting cutting-edge packaging, putting in place food safety procedures, and working with retailers. They want to retain a solid market position while enhancing quality and customer experience.
Recent Developments:
- In February 2021, across all Co-Ex MasterTM co-extrusion equipment, Baker Perkins enhanced process management, productivity, and sanitation.
- In January 2021, two brand-new twin-screw extruders for the pet food and aqua feed sectors were introduced by ANDRITZ.
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Pet Food Extrusion Market Segmentation
By Product Type:
- Complete Diets
- Treats
- Other
By Animal Type:
- Dog
- Cat
- Fish
- Birds
- Others
By Extruder Type:
- Single Screw
- Twin Screw
By Ingredient:
- Animal Derivatives
- Vegetables & Fruits
- Grains & Oilseeds
- Vitamins & Minerals
- Additives
- Others
By Process:
- Hot Extrusion
- Cold Extrusion
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