Source from: Packaged Facts
Rockville (MD), January 16, 2019 — The U.S. is by far the largest pet food market in the world, but recent trends indicate that the center of pet food industry growth is shifting away from North America and Europe, according to market research firm Packaged Facts in the new report Pet Food: U.S. Market and International Perspectives. The report profiles more than a dozen countries worldwide.
“The pet food market, especially the market for dog and cat food, has truly gone global,” says David Sprinkle, research director for Packaged Facts. “The national markets showing highest longer-term promise for future growth period include Argentina, Australia, Brazil, China, India, Japan, Mexico, Russia, and South Korea.”
China continues to climb the global pet food market lists, making it one of the fastest growing pet care markets alongside Mexico, Russia, and, of course, Brazil. Packaged Facts reports that the Chinese pet market is already in a dynamic growth stage, with impressive annual growth rates in recent years.
For more than a decade, pet ownership has been spreading from rural areas into the cities. There are indications of strongly surging dog and cat populations in the country, especially among cat ownership, which makes sense considering cats’ are more readily suitable to modern, high-density urban lifestyles.
“Dogs and cats are charting double-digit growth in China. However, cat ownership in particular is being driven by younger, urban Chinese pet owners with busy lifestyles, smaller living spaces, and a growing need for the emotional supports offer, among other factors,” says Sprinkle.
“No country has more pet market growth potential than China, which is partly a function of yet-to-be-realized pet population growth and broader usage of commercial pet food,” says Sprinkle.
For more business opportunities in China, welcome to the 8th China (Guangzhou) International Pet Fair (CPF 2019), one of the best trade platforms in China.
Date: March 8th-10th, 2019
Venue: Guangzhou International Sourcing Center
Free Visitor Pre-registration: