Northbrook, IL -- (SBWIRE) -- 09/16/2019 -- The report "Pet Food Extrusion Market by Extruded Pet Food Products (Type (Complete Diets and Treats), Animal Type (Dogs, Cats, Fish, and Birds), and Ingredient), by Pet Food Extruder Equipment (Type (Single and Twin Screw)), and Region - Global Forecast to 2022", The global pet food extrusion market is estimated to be valued at USD 55.21 Billion in 2017, and expected to grow at a CAGR of 5.6% to reach USD 72.64 Billion by 2022. The market for pet food extrusion is showing significant growth with a rise in the popularity of pet adoption, pet humanization, and rapid urbanization in developing economies such as China, India, Argentina, and Mexico. The growing pet population across the globe is one of the leading factors that contribute to the demand for extruded pet food products, worldwide. The need to fulfil the growing demand for pet food is simultaneously fueling the growth of the pet food equipment manufacturing industry.
Browse 101 market data Tables and 52 Figures spread through 182 Pages and in-depth TOC on "Pet Food Extrusion Market - Global Forecast to 2022"
By type, the complete diets segment is estimated to be the largest in 2017 in the extruded pet food products market
The complete diets segment is estimated to account for the largest share of the extruded pet food products market in 2017. The rapidly growing demand for nutrient-rich and balanced extruded pet food has been driving the growth of the complete diets segment. The complete diets segment is further sub-segmented into dry expanded and semi-moist pet food products. Dry expanded pet foods formed the larger segment, which is projected to grow at a higher CAGR during the forecast period. The growth in demand for premium and super-premium pet food products and the advantages offered by dry expanded pet food such as longer shelf life have been driving the demand for this subsegment over the past years.
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By type, single screw extruder is projected to be the fastest-growing segment during the forecast period in the pet food extrusion equipment market
During the forecast period, the single screw extruder segment is projected to grow at the highest CAGR, in the pet food extrusion equipment market, in terms of value and volume. Various benefits such as low capital cost and simplicity offered by single screw extruders have been driving the growth of this segment over the last few years. A single screw extruder offers simplicity and ease of operation, whereas a twin-screw extruder offers versatility and flexibility. Low capital cost and easy maintenance are some of the major factors responsible for the high demand for single screw extruders.
South America and Asia Pacific are fast-growing markets for extruded pet food products and pet food extrusion equipment
The South American market is projected to grow at the highest CAGR during the forecast period followed by the Asia Pacific region in both the markets. Countries such as Argentina, India, and China are expected to be the major emerging markets for extruded pet food products as well as pet food extrusion equipment. The growth in the number of distribution channels such as e-commerce and rising demand for premium and super-premium products coupled with the trend of pet humanization is expected to drive the market growth in these regions.
The stringent rules and regulations with regard to certification, sterilization, hygiene, and labeling of ingredients are the major factors restraining the growth of the extruded pet food products market, globally. The major challenges faced by the pet food product processors/manufacturers are the capital investment for equipment and threat for counterfeit products.
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Key Players
The market for pet food extrusion equipment is dominated by key players such as Andritz (Austria), Buhler (Switzerland), Clextral (France), Pavan (Italy), Diamond America (US), Lindquist Machine (US), The Bonnot (US), Kahl Group (Germany), Baker Perkins (UK), Coperion (Germany), Doering Systems (US), Brabender (Germany), and American Extrusion International (US) while the market for extruded pet food products is dominated by Mars (US), Nestle (Denmark), and The J.M. Smucker Company (US).