Animal And Pet Food Market Set for Steady Growth at 7.9% CAGR (2024-2033) || Cargill Incorporated, Nestle S.A., New Hope Liuhe Co .Ltd

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Animal And Pet Food Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $476.81 billion In 2028 At A CAGR Of 7.9% :

The animal and pet food market size has grown strongly in recent years. It will grow from $324.85 billion in 2023 to $352.18 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to pet ownership, animal health and well-being, premium and specialty products, retail distribution, vet recommendations.

The animal and pet food market size is expected to see strong growth in the next few years. It will grow to $476.81 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to health-conscious pet owners, sustainability and eco-friendly products, customized and personalized diets, digital marketing and e-commerce, global market expansion. Major trends in the forecast period include grain-free and limited ingredient diets, protein-rich and meat-first formulations, natural and organic pet food, alternative protein sources, functional and nutrient-enriched products:.

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Animal And Pet Food Market Major Segments
The animal and pet food market covered in this report is segmented -

1) By Type: Pet Food, Animal Food
2) By Ingredients: Animal Derivatives, Plant Derivatives, Synthetic
3) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels

Subsegments Covered: Dog And Cat Food, Other Pet Food, Poultry Feed, Cattle Feed, Aquaculture Feed, Other Animal Food

Key Driver - Stable Economic Growth Fuels Expansion Of The Animal And Pet Food Market

The animal and pet food market's growth is aided by the stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF), global GDP growth reached 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market's growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period.

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Prominent Trend - Automation Revolutionizes Pet Food Manufacturing For Safety And Efficiency

Major 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, extrusion, 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%.

Animal And Pet Food Market Players
Major companies operating in the animal and pet food market include Cargill Incorporated, Nestle S.A., New Hope Liuhe Co .Ltd., Charoen Pokphand Foods PCL, Bunge Limited, Diamond Pet Foods Inc., Mitsui & Co.Ltd., CJ Cheiljedang Corp, LandO'Lakes Inc., J.M.Smucker Company, Hill's Pet Nutrition Inc., Blue Buffalo Co Ltd., SCHELL & KAMPETER INC., Wellness Pet LLC, Sunshine Mills Inc., Merrick Pet Care, Ainsworth Pet Nutrition, LLC, Simmons Foods Inc., Tuffy's Pet Foods Inc., Natures Menu Ltd., American Nutrition Inc., Alphia, ADM Animal Nutrition Inc., NutriSource Pet Foods, Mid America Pet Food, KENT Corporation, KLN Family Brands, Nurture Farms, United Pet Group Inc., Eagle Mountain Pet Food, VICTOR premium pet food, Royal Canin SAS, Iams pet food, Eukanuba.

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the animal and pet food market in 2023. Western Europe was the second-largest in the animal and pet food market. The regions covered in the animal and pet food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Animal And Pet Food Market Report Structure
3. Animal And Pet Food Market Trends And Strategies
4. Animal And Pet Food Market - Macro Economic Scenario
5. Animal And Pet Food Market Size And Growth
…..
27. Animal And Pet Food Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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