Pet Food Extrusion Market: Key Trends and Forecast Report 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Pet Food Extrusion Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The pet food extrusion market size has grown strongly in recent years. It will grow from $78.89 billion in 2023 to $84.37 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to industrialization of pet food production, market expansion for pet food, texture and shape innovation, preservation of nutritional value, demand for specialized pet diets.

The pet food extrusion market size is expected to see strong growth in the next few years. It will grow to $110.92 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to pet humanization trend, expansion of premium pet foods, sustainable ingredient sourcing, personalized and customized diets, rise in plant-based formulations. Major trends in the forecast period include fresher and refrigerated options, transparent and ethical sourcing, immune-boosting formulations, holistic and whole food approaches.

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Market Drivers and Trends:

The growing pet population is expected to propel the growth of the pet food extrusion market going forward. Pets refer to an animal kept in the home as a companion and treated kindly. Pet food extrusion refers to a method used to produce food following the needs or requirements of the pet population. It enables the production of pet food with high-quality ingredients while preserving its low retail price. For instance, in 2021, according to Chewy, Inc., a US-based online retailer of pet food and other products, there were around 977,202 pets adopted in the US in 2021, which resulted in the highest adoption rate of 61% in the past six years. For another instance, in November 2022, according to a national survey of pets and people published by Animal Medicines Australia (AMA), an Australia-based industry body representing the leaders of the animal health industry in Australia, about half of Australian households had at least one dog, making them the most common pet. In 2022, 48% of households had dogs. Therefore, the growing pet population is driving the growth of the pet food extrusion market.

Technological advancements are a key trend gaining popularity in the pet food extrusion market. Major companies operating in the pet food extrusion market are focused on innovating new technologies to sustain their position in the market. For instance, in January 2021, Andritz AG, an Austria-based technology company, launched the ExTS-616 and ExTS-718, two new twin-screw extruders for the pet food and aquafeed industries. These are the ideal solution for processing viscous, greasy, sticky, or highly wet products, making them superior for the extrusion of pet food with high rates of fresh meat and meat slurries and low-starch fish feed. These new extruders are fully compatible with the expansion control system (ECS) and the tried-and-true Andtriz Flextex technology for managing the particular energy consumed by the process.

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Major Key Players of the Market:

Nestlé S.A., Mars Petcare Inc., Andtriz AG, The J.M. Smucker Company, Ingredion Incorporated, SunPring, Buhler Industries Inc., Pavan Group, Reading Bakery Systems Inc., Clextral SAS, Brabender GmbH & Co. KG, Baker Perkins Ltd., Lindquist Machine, American Extrusion International, Nanjing Haisi Extrusion Equipment Co. Ltd., Diamond America Corporation, Doering Systems Inc, Coperion Ideal Private Limited, The Bonnot Company, IDAH Company, Shandong Loyal Industrial Co. Ltd., Kairong Group, Kahl Group, Wenger Manufacturing Inc., Triott Group.

Pet Food Extrusion Market 2024 Key Insights:

• The pet food extrusion market size is expected to see strong growth in the next few years. It will grow to $110.92 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
• Pet Population Sparks Surge In Pet Food Extrusion Market
• Technological Advancements Transform The Landscape Of Pet Food Extrusion Market
• North America was the largest region in the pet food extrusion market in 2023

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