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(MoneyNewsWire.Net, June 06, 2018 ) The pet food extrusion market studied in this report involves the market coverage of extruded pet food products and pet food extrusion equipment. The pet food extrusion market is projected to grow at a CAGR of 5.6% over the next five years, to reach USD 72.64 Billion by 2022.
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The increasing demand for extruded pet food has fueled the demand for pet food extrusion equipment as these equipment enhance the quality of pet food along with the shaping and sizing benefits, which helps meet the demand for premium and super premium food products for pets with a long shelf life and high bacterial safety. Thus, manufacturers are expanding their capabilities to meet the increasing demand for pet food. The type of extrusion equipment required depends on the extrusion process, type of pet food, ingredient type, amount, and cooking time in relation to the desired maximum capacity.
Based on type, the extruded pet food products market has been segmented into complete diets and treats and other complementary products. The complete diets segment dominated the global extruded pet food products market, and this trend is expected to continue through the forecast period. Complete diets include dry expanded and semi-moist extruded pet food products, which are highly consumed owing to the increase in the demand for premium and super premium pet food products.
Based on animal type, the pet food extrusion market has been segmented into dogs, cats, fish, birds, and others (rabbits and reptiles). The dog and cat segments dominated the global extruded pet food products market, with a majority of share. The dog segment is also projected to grow at the highest CAGR in terms of both, value and volume, during the forecast period. The growing pet adoption rate coupled with increasing disposable income of pet owners is expected to drive the demand for extruded pet food products.
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North America is estimated to occupy the largest share of the global pet food extrusion market, in terms of value, in 2017, owing to the booming pet food processing industry and presence of major companies such as Mars and Nestle. The South American and Asia Pacific regions are projected to be fast-growing during the forecast period. Key players in Europe and the US focus on tapping the pet food extrusion market in countries such as India and China, owing to which Asia Pacific is expected to witness high growth in the coming years.
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.
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).
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