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Pet Food Market
Market Trends and Reports: Page 16
Pet Food Market
July 2024: Pet prices up 0.1% as inflation falls to 2.9%
This is the lowest year-over-year inflation rate since 2.5% in March 2021.
East Asia
South Korean pet food imports drop in 2023, despite sales growth
In 2022, the market size for dog and cat food reached KRW 1.69 trillion (US$1,308 million), representing a 71% increase from 2017's KRW 988 billion (US$874 million).
Market Trends and Reports
BARK revenue hits US$116.2 million in Q1 FY25
BARK, Inc., a global omnichannel dog food and other products brand, announced its financial results for the fiscal first quarter ended June 30, 2024.
Market Trends and Reports
Nutriment makes 3rd and 4th pet food acquisitions of 2024
After the previous acquisitions of Dibo, Barfgold, Aniforte and Haustierkost, PETMAN is now the fifth pet food company in Germany belonging to TNC.
Pet Food Market
Pet food imports into Russia decline 40%
Experts attribute the drop to a variety of factors, including government restrictions, increased domestic pet food production and payment difficulties.
Australia/Pacific
What a treat: Asia-Pacific's US$6 billion pet treats market
Demand growing in region as pet parents spend on premium products
Adventures in Pet Food
State of pet food innovation: Novel product launches down
The number of truly novel new pet food and treat launches has fallen globally and in the U.S., according to data, yet opportunities to innovate remain.
Market Trends and Reports
Mexican pet food market reaches US$7.7 billion
More than 200 businesses manufacture or market pet food in the country and are projected to increase production of pet food by 2.5% per year through 2030.
Something to Chew on
Will high pet treat sales growth soon come down to earth?
Pet treats are popular but also a discretionary expense, and in inflationary times, some pet owners may reduce their spending in the category.
Top Pet Food Companies
22 US pet food companies with more than US$100 million revenue in 2023
In 2023, U.S. pet owners spent approximately US$147 billion on pet food, treats and other products.
U.S. and Canada
Canadian pet food inflation down in 2024; Prices high still
The cost of pet ownership may be influencing Canadian dog and cat owners’ purchasing decisions.
Market Trends and Reports
Purina fueled US, Europe sales growth in first half 2024
Purina PetCare continued to lead growth for parent company Nestle in key pet food markets during the first half of 2024.
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