Pet Food Global Market To Reach Value Of About $90 Billion In 2025
22 Jun, 2021
The pet food market consists of sales of goods and services by entities (organizations, sole traders and partnerships) associated with manufacturing cat and dog food and other animal food from ingredients such as grains, oilseed mill products and meat products. The industry includes the establishments that produce dog food, cat food, and other animal food. Other animal includes birds, mammals and aquatic animals. This market does not include agricultural animal food.
Global Pet Food Market Size And Drivers:
The global pet food market is expected to grow from $72.07 billion in 2020 to $75.29 billion in 2021 at a compound annual growth rate (CAGR) of 4.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $90.32 billion in 2025 at a CAGR of 5%. The pet food manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries.
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Trends In The Global Pet Food Market
Pet food manufacturing companies are using automation technologies such as advanced production lines and software solutions to improve safety and operational efficiency. These technologies automate formulation, batching, drying, coating and liquid delivery processes. This results in cost-effective processing and consistent product quality. For example, Champion Petfoods, a Canadian producer of pet food, has video monitored production lines, with cooking processes connected through Rockwell hardware and software systems. It also uses bulk bins and conveying systems, votator heat exchangers and advanced extrusion and drying systems. United Pet Group’s pet food manufacturing plant in St. Louis used FactoryTalk software from Rockwell Automation to reduce overtime by 10% and increase labor efficiency by 15%.
Global Pet Food Market Segments:
The global pet food market is further segmented based on type, distribution channel, ingredients and geography.
By Type: Dog And Cat Food, Other Pet Food
By Distribution Channel: Specialized Pet Shops, Internet Sales, Hypermarkets, Others
By Ingredients: Animal Derivatives, Plant Derivatives, Synthetic
Sub segments Covered: Dog Food, Cat Food
By Geography: The global pet food market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global pet food market, accounting for 38% of the market in 2020.
Read More On The Report For The Global Pet Food Market At:https://www.thebusinessresearchcompany.com/report/pet-food-global-market-report-2020-30-covid-19-impact-and-recovery
Pet Food Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides pet food market overviews, analyzes and forecasts market size and growth for the global pet food market, pet food market share, pet food market players, pet food market segments and geographies, pet food market’s leading competitors’ revenues, profiles and market shares. The pet food market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.