Industry Analysis & Industry Trends
The Animal Food Production industry has grown over the past five years, despite fluctuations in the price of animal feed. Rising input costs were largely absorbed by industry operators, passed on to downstream producers or offset by rising global demand for meat. The industry was also bolstered by a steady increase in demand for pet food brought on by an increase in pet ownership. The industry is expected to grow alongside demand for animal feed and pet food over the next five years. Rising disposable income will encourage more Canadians to purchase pets and pet food products. In particular, premium brands will benefit as consumers are better situated financially to pamper their pets.
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Industry Report - Industry Analysis Chapter
The Animal Food Production industry uses processed raw ingredients to produce feed for livestock, including horses, cows, chicken, turkeys and household pets, such as cats and dogs. Despite fluctuations in the price of feed inputs, the industry was able to achieve robust growth during the past five years. Industry revenue was bolstered by rising domestic demand for pet food and global demand for feed exports from Canada. IBISWorld estimates industry revenue increased at an annualized rate of 3.0% during the five-year period to $8.0 billion in 2016, including an anticipated increase of 2.3% this year.
The industry is divided into two primary segments: animal feed and pet food production... purchase to read more