According to a new report published by Allied Market Research, titled, “Feed Pallet Machine Market,” The feed pellet machine market size was valued at $120.20 million in 2021, and is estimated to reach $191.9 million by 2031, growing at a CAGR of 4.7% from 2022 to 2031.
A feed pelletizing system is a piece of biomass molding equipment. It is used to mold pellets to make things such as flour-made cornbread and corn cakes. These tools are often selected for making animal feed pellets. Raw materials are introduced into feeder and pressed into matrix by roller, including bean pulp, maize, hay, rice husk, straw, wheat stalk, and alfalfa.
Components are heated to a high temperature (between 60 and 80 degrees Celsius) as a result of high pressure and friction in the matrix. After being heated and compacted under high pressure, these materials are subsequently pressed into molds to create pellets. The pellets are quite strong after cooling.
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Rise in meat consumption has increased the need for livestock production. The animal feed pellet machine market share has expanded in response to rise in global population, increase in urbanization, and increase in purchasing power of consumers. Majority of feed pellet mills are located in Asia and North America.
Pellets accounted for around 60% of the feed output, and they are more common in Europe. As feed manufacturing requires more sophisticated feed pellet production equipment, the feed pellet machine industry is expected to experience growth in the upcoming years. Reduction in demand for processed foods and increase in demand for organic food hampers the need for feed pellet machines, restraining feed pellet machine market growth.
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In addition, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering growth of the feed pellet machine market. However, this situation is expected to improve as government is relaxing norms around the world for resuming business activities.
In recent years, there have been encouraging technological advancements and growth in urbanization, which is expected to offer ample opportunities for growth of the feed pellet machine market during the forecast period. Pet owners want their pets to eat as much as they do as humanization of pets grows. Presently, more than 40% of pet owners purchase premium cat or dog food. As more companies provide premium pet food products, premium packaging is necessary to safeguarding, and preserving content.
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