Pet Food Processing Equipment Market to Hit $4.7B by 2022

April 11, 2017

2 Min Read
Pet Food Processing Equipment Market to Hit $4.7B by 2022
The pet food processing equipment market is expected to grow through 2022. Image courtesy of Flickr user infomastern

Rising demand for pet food supplies, increases in pet population, growing awareness of pet health, and “pet humanization” are predicted to drive the market for pet food processing-related equipment globally over the next five years, according to a new market forecast by Markets and Markets.

By 2022, the market is expected to reach a value of $4.7 billion, growing at a compound annual growth rate (CAGR) of 3.5% from 2016.

Emerging markets like Brazil, Argentina, China and India are predicted to have high growth potential, with the Asia-Pacific market in general anticipated to grow with increases in disposable incomes.

“The Asia-Pacific region is one of the key markets for the pet food processing equipment market. Its growth is attributed to the rising awareness of healthy food for pets. This is expected to have a significant impact on the equipment industry, as the demand for newer and modern equipment is expected to increase in the coming years,” Markets and Markets researchers wrote.

The market research firm said that new technology developments will drive market demand for mixing and blending equipment and automation of pet food processing systems. Dog food processing equipment is estimated to grow at the largest CAGR during the forecast period.

Some of the key players during the forecast period were identified as ANDRITZ AG, Clextral SAS, Buhler AG, Baker Perkins Ltd. and the Middleby Corporation.

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