China presents trade opportunities for US pet food manufacturers

Given high inflation on consumer goods over the past year, it has been surprising to see that global dog and cat food exports — both in terms of value and volume — are strong, a testament to the market’s resilience in the face of shrinking disposable incomes and spikes in unit prices. However, Euromonitor International’s Pet Care 2024 Report shows that 2022’s inflation challenges were also met with a slowdown in global pet population growth to 1%, as workers returned to their physical workplaces following the COVID-19 pandemic.