Dog and cat food sales will reach US$69 billion dollars globally this year, according to the latest data from Euromonitor International. While treats are the fastest-growing segments—dog treat retail sales are increasing nearly 5.5% a year and cat treats, about 5.1%—dry petfood for both dogs and cats is also projected to grow strongly through at least 2018.
Globally, dry petfood already predominates over wet, 74% versus 26%, according to Euromonitor, which presented its data during a recent webinar, "Global pet care in an age of economic uncertainty." The good news is that, despite the webinar title, things are not really that uncertain for pet care overall or petfood specifically; growth is still the key concept.
The US leads the world in dry petfood sales, which is no surprise, considering it's the largest petfood market by far. What's new is that Brazil now ranks second globally, ahead of Japan (see Table 1). That is one reason Brazil has leapfrogged Japan and other traditional petfood markets in total global petfood sales, in a relatively short time. During the webinar, Euromonitor pointed out how Brazil is now also the second-largest pet care market overall, moving past both Japan and UK; 10 years ago, the Latin American powerhouse may have barely made the top 10 list of pet care markets.
Note that Mexico is on the list of dry petfood leaders. It is also the third fastest-growing market globally for dog and cat food retail sales, according to Euromonitor, behind only Brazil and