Global Pet food market South America and Asia trending in 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.
“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.”
Brazil head this second tier of national markets with combined dog and cat food sales of US$1 billion or more. Brazil is home to over 132 million pets, including 77 million dogs and cats, making it the fourth largest pet population worldwide behind China, the United States, and the United Kingdom. Brazil’s strength also lies the fact that the two global pet food kingpins lead the Brazilian market, with Mars (Mars Brasil Alimentos Ltda) out front followed by Nestlé (Nestle Brasil Ltda).
The Case for China
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.
“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.
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