Report on future of pet food processing market released

Forecasts show the market to reach $8.2 billion by 2030.

August 25, 2023

The "Pet Food Processing - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global pet food processing market is analyzed in this report with a focus on various geographic regions including the USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa.

The report presents recent past, current and future analyses for different categories of pet food processing including Dry, Wet, Cat Food, Fish Food, Dog Food, and more. The data includes independent analysis of annual sales in US$ Million for the years 2022 through 2030, along with percentage CAGR.

Additionally, the report provides insights into the market presence and key competitors in each of the mentioned regions. The report serves as a comprehensive guide for understanding the global pet food processing market landscape and trends.

Global pet food processing market to reach $8.2 billion by 2030

In the changed post COVID-19 business landscape, the global market for pet food processing estimated at US$4.8 billion in the year 2022, is projected to reach a revised size of US$8.2 billion by 2030, growing at a CAGR of 6.7% over the analysis period 2022-2030.

Dry food, one of the segments analyzed in the report, is projected to record 6% CAGR and reach US$5.4 billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Wet segment is readjusted to a revised 8.3% CAGR for the next 8-year period.

The U.S. market is estimated at $1.3 billion, while China is forecast to grow at 10.7% CAGR

The pet food processing market in the U.S. is estimated at US$1.3 billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.8 billion by the year 2030 trailing a CAGR of 10.7% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 5.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR.

What's New for 2023?

Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its 'bumpy' reopening; supply chain disruptions, global trade tensions; and risk of recession.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies--Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and Research Platform
Complimentary updates for one year

Looking ahead to 2023

The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia's war on Ukraine will play out this year and the war's role in creating global instability mean that the trouble on the inflation front is not over yet.

Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession.

Fears of new COVID outbreaks and China's already uncertain post-pandemic path pose a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. The year 2023 is expected to be a tough year for most markets, investors and consumers.

Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

A selection of companies mentioned in this report includes