Pet Food Market Size by 2022
Pet Food Market Size Worth $98.81 Billion By 2022 | CAGR 4.3%
The global pet food market size is projected to reach USD 98.81 billion by 2022, according to a new report by Grand View Research, Inc., exhibiting a 4.3% CAGR during the forecast period. Rising trend of pet adoption is expected to be a major driving factor over the coming years.
Increasing number of nuclear families in emerging economies of Asia Pacific, particularly India, China, Vietnam, and Indonesia, has resulted in the growing trend of pet adoption and this is expected to drive market growth over the forecast period. Rising need for nutritious, healthy, and organic pet food on account of increasing awareness regarding animal health is expected to augment market demand.
Increasing life expectancy across the globe has led to older generation adopting pets to guide them through routine chores; this is expected to fuel pet food demand over the forecast period. Innovation in specialty, premium, and gourmet pet food products and packaging techniques is expected to propel growth in larger markets of U.S., Europe, and Japan.
Jinan Bright Machinery CO. LTD is a professional extrusion equipment manufacturer.Pet food production line has endowed pet food with novel shape, unique taste and color, and adapted to the growing pet food market with the most scientific nutrition ratio and easy digestion. Various shapes and tastes can meet the requirements of various pet foods. The pet food production line consists of powder mixer, twin screw extruder, air conveyor, oven, dryer and seasoning line.
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