The global pet food processing market is mainly being driven by a steady progress happening in the pet care sector, majorly in developed economies. Increasing demand for better pet food, improved pet care, and need for enhanced pet nutrition also is substantially propelling growth in the market. Rising disposable income mainly among the upper class and middle class communities to afford quality pet food too has proven beneficial for the market’s expansion. Moreover, several packaging material manufacturing companies are getting established in various emerging economies, which is expected to spike up growth in the global pet food processing market in the long run.
With nuclear families proliferating across the world, the number of family members raising pets has increased, thus leading towards a higher demand for pet food products too. Increased pet humanization is another additional factor driving the global pet food processing market. From an overall perspective, this sector is forecasted to progress with a handsome growth curve. A rise in awareness about pet therapy and its benefits has made several people buy pets in recent times. This too has pushed the global pet food processing market expand.
However, meeting consumer demands of well-packaged pet food products might be difficult due to certain factors. Lack of trained staff in remote and underdeveloped location and provision of insufficient wages to workers in packaging plants, are chiefly hampering the global pet food processing market’s growth. Moreover, worker health and safety might not be properly maintained in such localities, which too is not conducive for the market to progress. Nevertheless, many businesses are coming forth to regulate demand and supply of pet food products, as well as regulating packaging material costs. This projects a bright future to exist for the market during the forthcoming years.
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The global pet food processing market depicts the existence of a highly fragmented vendor landscape owing to the presence of innumerable small- as well as large-scale players. The following pointers shed more light on the vendor landscape. The global pet food processing market is highly heterogeneous in terms of its existence, owing to various parameters that imbibe a sense of dynamism in the competitive landscape. Most companies in this industry attempt to enhance customer loyalty, improve product distribution, and regulate pet food product prices, which are their three key strategies. With an increasing need for pet food all over the globe, several players are trying to establish themselves on foreign soils. Doing this might make their competitive spirit stronger in the pet food processing market.
Andritz Group, Coperion Gmbh, Baker Perkins Ltd., Mepaco Group, Buhler Holding Ag, Clextral Sas, F. N. Smith Corporation, Meyer Industries, Inc., The Middleby Corporation, and Markel Food Group, are key players operating in the global pet food processing market.