The global pet food processing market size is projected to grow from USD 4.4 billion in 2019 to USD 6.2 billion by 2026, recording a CAGR of 5.0% during the forecast period. The increasing trend of pet adoption and rising acceptance of pets across regions due to the increasing disposable income are the key factors that are projected to drive the growth of the pet food processing market. In addition, the introduction of new technologies in the pet food sector also provides growth opportunities for the growth of the pet food sector. Due to the increasing demand for nutrition-rich pet food, manufacturers are focusing on investing in new ingredients. This has further increased the demand for specialized equipment and is projected to drive the growth of the pet food processing market globally. However, the depreciation of processing equipment for pet food production over the years is a key factor that is projected to inhibit the growth of the market. The forming equipment segment is projected to dominate the market during the forecast period Forming equipment form the base for pet food production. The extrusion technology is a part of forming equipment and crucial for advanced pet food processing. Companies are increasingly investing in new and innovative extrusion solutions. With the ever-changing consumer demand for different pet food products, the demand for extrusion equipment is projected to remain high. This trend of extrusion-based manufacturing in the pet food sector is projected to drive the demand for forming equipment. Thus, this segment is projected to dominate the market during the forecast period. Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=9535004 The wet form of pet food is projected to grow at a higher growth rate during the forecast period Wet pet food comprises high moisture content and has a high amount of essential proteins. It includes canned food, semi-moist, and gravy treats for pets. Although wet pet food is comparatively less economical, increasing awareness among pet owners about high-quality nutrient-rich pet food products and the increasing trend of pet food product premiumization are factors that are projected to drive the growth of the wet segment during the forecast period. The Asia Pacific region is projected to be the fastest-growing market during the forecast period The Asia Pacific region projected to grow at the highest CAGR between 2019 and 2026. The rising urbanization across the developing countries in this region is a key factor that is projected to drive the demand for pet food products. The increasing demand for pet food in the Asia Pacific region is also projected to create growth opportunities for pet food processing manufacturers in this region. The growth is attributed to the increasing investments in the pet food industry and the growing pet food sector in countries such as China, India, Japan, and Thailand.