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The global pet food processing market is expected to grow from USD 8.4 billion in 2018 to USD 11.3 billion by 2025, at a CAGR of 2.6% from 2018 to 2025. Pet food processing is one of the fastest growing market segments in the global food and beverage industry. The market is expected to reach US$24.0 billion by 2024, from US$17.8 billion in 2014, growing at a CAGR of 6.1% during the period 2015-2024.
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Pet food processing is a booming industry with an estimated market size of $35.4 billion by 2025. It is the second largest segment of the pet food industry and its share of the global pet food market is expected to increase from 4% to 7% during this period. These foods are mostly processed in commercial or industrial plants and can be classified into wet, semi-wet or dry processes. Wet methods include extrusion and fluidized bed processing, while dry procedures are usually done by homogenization. According to a new report, the global pet food processing market size is expected to reach USD 2.94 billion by 2025.
Pet food processing market size
According to the latest research report, the global pet food processing market is approximately $35.3 billion. It is expected to reach $52.4 billion by 2025, growing at a CAGR of 7% during the forecast period. Growing pet population is mainly driving the market in developing regions like Asia-Pacific (APAC) and Latin America, contributing 80% of the market share.
Pet food processing market share
The global pet food processing market is expected to reach $71.93 billion by 2025, from $56.03 billion in 2017, growing at a CAGR of 5.7% from 2017 to 2025 .
Pet Food Processing Market Trends
According to a new report, the global pet food processing market is expected to reach USD 8.98 billion by 2025, according to a new account. The pet food processing market is expected to grow at a CAGR of 4.5% from 2019 to 2025. Additionally, the lack of availability of natural ingredients in the market and the growing preference for processed products are the main drivers of industry growth.
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The pet food processing market is valued at over USD 25 billion in 2018 and is expected to reach around USD 40 billion by 2025.
Pet Food Processing Industry Forecast to 2025
The pet food manufacturing market is expected to grow at a CAGR of 5% to reach US$45.6 billion by 2025. Industry growth is primarily driven by growing number of pet food owners. pets around the world and the increase in people’s disposable income, which is driving demand for premium and specialty pet foods.