While the largest pet food markets in Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) nations remained in established markets, some of the fastest growth came in developing markets.
Pet food retail sales market CAGR in Pacific Rim nations
Japan, Canada, Australia and Mexico had the four largest pet food retail sales numbers from 2016 to 2020. However, only one of those four also ranked among the highest compound annual growth rates. Canada accompanied Vietnam, Peru and Malaysia as the four nations with the highest CAGR from 2016 to 2020.
Pet food retail CAGR% from 2016 to 2020
Total: 2.5
Vietnam: 16.6
Peru: 5.8
Malaysia: 5.5
Canada: 5
Singapore: 4.1
Brunei: 3.9
Chile: 2
Mexico: 1.8
Japan: 1.7
Australia: 1.5
New Zealand: −0.1
Brunei: 3.9%
Infographic: Pet food retail market sales in CPTPP nations
Pacific Rim trade group overall pet food markets
Nations in CPTPP had a combined pet food industry value in 2020 of US$17.5 billion. Pet owners in CPTPP countries spent most of the 2020 total on pet food, making up US$13.7 billion. Within the pet food category, dog and cat food dominated 96.4% of the industry. The cat and dog food markets may grow at compound annual growth rates (CAGRs) of 5.3% and 4.6% respectively from 2021 to 2025. That follows steady growth from 2016, when the market stood at US$12.3 billion. After a CAGR of 2.5% from 2016 to 2020, Wang forecast the dog and cat food sector to hit US$17.2 billion in 2025 at a CAGR of 4.9%.
Vietnam, Singapore, Malaysia, Chile and Peru make up 10.6% of the pet food industry in the CPTPP region in 2020. Those nations also had higher CAGRs from 2016 to 2020 than Japan, Australia, Mexico and New Zealand. These five emerging markets, Vietnam, Singapore, Malaysia, Chile and Peru, were forecast to keep that momentum from 2021 to 2025.
Tim Wall covers the dog, cat and other pet food industries as senior reporter for WATT Global Media. His work has appeared inLive Science, Discovery News, Scientific American, Honduras Weekly, Global Journalist and other outlets. He holds a journalism master's degree
from the University of Missouri - Columbia and a bachelor's degree in biology.
Wall served in the Peace Corps in Honduras from 2005 to 2007, where he coordinated with the town government of Moroceli to organize a municipal trash collection system, taught environmental science, translated for medical brigades and facilitated sustainable agriculture, along with other projects.
For several years, the pet food industry has celebrated the market’s growth outpacing that of many other consumer goods categories, even during the pandemic.
