The pet industry, one of the fastest-growing sectors globally, offers immense commercial potential. Over the last 30 years, pet ownership has skyrocketed, with 70% of US households now owning a pet, up from 56% in 1988. According to GlobalData, the global pet industry, currently worth $99.3 billion, is projected to reach $120 billion by 2027, propelled by a 5% CAGR.
This growth extends to the wet pet food market, anticipated to reach $33.5 billion by 2027, with a 4.5% CAGR. For processors aiming to penetrate or augment their share in the pet food market, here are the Top Five Trends identified by Euromonitor:
- Pet Humanization: 71% of pet owners consider their pets family members, driving a trend toward foods that boost pet health and immunity (Euromonitor).
- Premiumization: Quality matters. Pet owners are increasingly seeking premium-grade ingredients. Euromonitor predicts the premium market will grow from $34.9 billion in 2017 to $59.2 billion by 2027.
- Functional Foods: Owners are opting for foods fortified with beneficial nutrients like vitamins C and E, omega-3, minerals, and essential fatty acids for their pets’ health and longevity.
- Sustainable Packaging: The pet food industry is becoming more eco-friendly. Despite only 1% of the 300 million lbs of pet food plastic packaging being recycled (Pet Sustainability Coalition), initiatives like rePurpose Global are pushing to reduce plastic use.
- Digital Shopping: Online pet food sales are set to surpass physical sales, accounting for 55% of total US sales by 2025, up from 32% in 2020 (Packaged Facts).
How does JBT fit into this picture?
JBT’s expertise lies in innovating in the pet food category, from premiumization to sustainable packaging and natural ingredients. Serving top pet food brands globally, JBT offers a wide array of solutions, such as:
- Optimized processing: Used by leading pet food companies, JBT FTNON’s range of solutions for processing and steam cooking improve efficiencies and optimize product quality.
- Versatile Filling Technologies: JBT’s Unifiller caters to a variety of needs, capable of filling high and low viscosity foods into various semi-rigid or rigid containers.
- Efficient Seamers: The JBT Seamer and TwinTec offer high uptime, easy cleanability, and quick can format change-overs.
- Flexible Tray Sealing: The Proseal AP60 Tray Sealing Machine can seal up to 240 atmospheric packs per minute and can be equipped with full or partial vacuum systems.
- Effective Preservation: JBT’s SuperStatic Retort ensures efficient thermal processing of packaged pet foods, while the Hydromatic® Hydrostatic Sterilizer provides sustainable solutions with energy-efficient continuous processing.
- Shelf-life extension: High Pressure Pasteurization (HPP) technology from JBT Avure offers huge benefits for pet food manufacturers, from inactivating dangerous pathogens to extending refrigerated shelf life and nutrient preservation.
Explore the full range of JBT’s innovative solutions for the dynamic pet food market HERE.