Bizizz Market Research has recently published a research report, “Pet Food Processing Market By Form (Wet, Dry, Treats/Snacks, and Others), Food processing equipment (Mixing & Blending Equipment, Forming Equipment, Baking & Drying Equipment, Coating Equipment, Cooling Equipment, and Others), Sales channel (Hypermarkets/Supermarkets, Specialized Pet Shops, Internet Sales, and Others (Grocery Stores, Non-Grocery Stores) Application (Cats, Dogs Fishes and Others), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Pet Food Processing Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 5.8 Bn by 2027, witnessing a CAGR of 5.2 % during the forecast period. Key drivers of the market are increased awareness on the pet health and reducing the risk of urinary tract illness in the pets. However, increased cost associated with the pet food processing may hinder the growth of the market during the forecast period.
The pet food processing market is exhibiting a considerable growth in the recent years and is anticipated to exhibit a substantial growth during the forecast period. The Governments of various countries are taking different measures in order to enhance the health and safety of the pets through the pet food processing globally. As per the FDA pet food should be of a good quality and healthy alike to human foods. Such factors are increasing the demand of pet food for improving their health, and increased transparency during purchasing pet foods has been rising in the recent years. Moreover, the owners of the pet are concentrated on offerings healthy food to pets that would improve the urinary tract health.
The Pet Food Processing’s market is anticipated to register a CAGR of over 15% during the forecast period.
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By Product, Dog segment held a prominent share in Global Pet Food Processings Market in 2018.
The pet adoption among different animals is more for dogs that is supporting the growth of pet food processings in the market. Thus, the dog segment is accounted to dominate the market of pet food processings. This could be attributed to the increased customer’s inclination towards the dog’s companionships and security reasons are supporting the growth of pet food processings in the market. It could be further attributed to the need for a healthy and nutritious food to the pets being high in demand by the owners of the pets.
North America is Anticipated to Dominate the Global Pet Food Processings Market during the Forecast Period (Please do capitalize each word)
North America is leading in the pet food processings market because of an increased adoption of the pets in this region. Such trend could be attributed to the increased disposable income among the customers enabling them to adopt pet and spend on them. As these adopted pets needs good amount of healthy food is stimulating the growth of pet food processings in this region.
Global Pet Food Processings market was highly fragmented among the number of local and global players.
The organizations offering pet food processings and being involved in the research & development procedures that are substantially creating competitive edge in the market.
Prominent players operating in the Global Pet Food Processings Market are: Devenish Nutrition Ltd., Nisshin Petfood Inc., Blue Buffalo Co., Ltd., Mars Petcare US Inc., Heristo Aktiengesellschaft, The Procter & Gamble Company, Big Heart Pet Brands, WellPet LLC, Nestle Purina PetCare, Tiernahrung Deuerer GmbH, Diamond Pet Foods, Hill’s Pet Nutrition, Nutriara Alimentos Ltda, The Nutro Company, Mogiana Alimentos SA, Spectrum Brands/United Pet Group Tuffy’s Pet Foods, Inc., Canine Caviar Pet Foods, Simmons Pet Food, Inc., and NUTTSABOUTPETS., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
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