In 2017, the United States pet food market remained the largest in the world by a strong margin, despite rapid growth by developing nations, said Jared Koerten, senior food analyst at Euromonitor International, during his presentation at the International Processing and Production Expo in Atlanta, Georgia, USA on January 30, 2018. See how the top 12 global pet care markets changed from 2012 to 2017 in the infographic below.
“What's interesting is that even though we have some very strong growth in these emerging markets, the US has been holding certain,” he said “Over the past five years, it's share has only fallen from 44 percent down to 42.”
Some of those fast growing pet care markets include Brazil, Mexico, China and Russia. Since 2012, Brazil replaced the United Kingdom as the second largest pet care market. Mexico grew to beat out Canada’s pet food market to become the second largest in North America. The Mexican pet food market now ranks tenth with Canada in eleventh place. Formerly in ninth place, Russia moved up to become the seventh largest pet food market.
Strong, consistent growth in US pet food market
However, these gains weren’t enough to put any other pet food market anywhere near the United States in terms of sales.
“Again, the US has been healthy,” Koerten said. “It has been growing even as some of these emerging markets really explode with some very strong growth. When we look at year over year growth in the US, we see what I call a model of consistency.... This is very consistent year-on-year growth.
“I've gone all the way back to 2005 here, we're seeing four, five, six percent growth each and every year for more than a decade,” he said.
Koerten compared the US pet care market to other consumer packaged goods (CPG) markets. He found that pet care beat many other industries, such as packaged foods and tissue and hygiene.
“So anyone in CPG who would sort of pick an industry to be in, pet would definitely be one to think about and to target given the strong consistent growth we see,” he said.
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