The Latin America region is likely to progress in the Pet Food Extrusion Market in terms of value and volume with a compound annual growth rate of 6% among the other regions during the outlook period of 2022 - 2027.
Pet food extrusion is a form of eviction used in food processing, a method by which a set of mixed components are enforced through an opening in a punched plate with a project specific to the food. Increasing of pet adoption, pet humanization and rapid urbanization in developing economies such as Argentina, Brazil, Colombia propels the growth of the market of Pet Food Extrusion in the Latin America region.
The entire world is suffering due to the coronavirus pandemic, which is causing financial problems and are not able to continue their manufacturing units. Especially in the Latin America region, the COVID-19 has affected more in the countries such as Brazil, with a greater number of cases recorded. Recently, most of the companies have already restarted their manufacturing units and are slowly recovering from the financial crisis. The Pet Food Extrusion market in Latin America is expected to grow at a rapid speed in the next few months owing to the increasing adoption of pets in the region as well as rapid urbanization.
Drivers and Restraints of Latin America Pet Food Extrusion Market:
Drivers:
Rise in the pet population and growth in pet adoption are some of the major driving factors that helps the growth of the Latin America Pet Food Extrusion market. Another prominent factor that helps the growth of the Latin America Pet Food Extrusion market is the increasing trend of pet humanization, rising number of key pet food players and high volume demand for extruded pet food in some emerging economies such as Argentina, Brazil, and Colombia that helps the market to grow further in this region.
Restraints:
Stringent regulations and rules are one of the major restraints effecting the growth of the Latin America Pet Food Extrusion market. Another major limitation impeding the growth of the market was lack of awareness about food type to be served as immune power varies in every pet can raise the problem for several allergic diseases in Latin America region.
Latin America Pet Food Extrusion Market – By Type:
treats and complete diets
Latin America Pet Food Extrusion Market – By Animal Type:
Of these, the dogs segment is likely to expand with the highest share in the Latin American market in the coming years.
Latin America Pet Food Extrusion Market – By Equipment Type:
Regional Analysis:
Latin America region accounted for the second prominent share in the local market of Pet Food Extrusion compared to other area with an annual growth rate of 6% during the outlook period of 2020 to 2025. One of the main reasons behind this is the increasing adoption of pets, rising pet humanization and rapid urbanization in developing economies such as Argentina, Brazil, and Colombia in this locale.
Increasing number of key pet food players and high-volume demand for extruded pet food in the above mentioned economies is touted to help the local market of pet food extrusion to grow further in the coming years.
Key Players
Some of the key players of the Latin America Pet Food Extrusion Market are Kahl Group (Germany), Baker Perkins (UK), Brabender (Germany), and American Extrusion International (US), Coperion (Germany), Doering Systems (US), Clextral (France), Pavan (Italy), Diamond America (US), Andritz (Austria), Buhler (Switzerland), Lindquist Machine (US), The Bonnot (US).
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