The worlds largest pet food markets are the United States France Japan and Germany accounting for over half of the global pet food sales. Dollars of pet food was sold in 2019 and this is estimated to increase to around 384 billion in 2020.
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While pet food sales value continues to grow volume growth was lower at approximately 3 during that same period.
How much is pet food industry worth. According to the Association for Pet Obesity Prevention APOP 526 of the dogs and 57. Average pet food spending per boomer CU decreased by US8419 to US26473. Pet humanization involves owners trying to incorporate pets into more and more aspects of their human lives like holidays nutrition health care and more.
Mars is the leading company in the pet food industry making about 17 billion annually in pet-care products. Approximately 369 billion US. In the United States pet-food sales in 2016 reached an all-time high of 2823 billion.
However Natures Menu told pbwnews that the raw market is worth an estimated 91m up 31 with volume around 600 tonnes a week so by extrapolation this could represent a figure in the region of approximately 31000 tonnes a year. Analysts with Mintel a market intelligence agency forecast that cat and dog food spending will reach GBP29 billion US37 billion in 2020 in the United Kingdom. Those figures represent a 6 percent compound annual growth rate CAGR since 2013 and 31 overall growth during the same period.
Finding success in a new business relies heavily on the ability to fill a gap in the market that enough people need or want and with consumers spending 122 billion on the Australian pet industry annually according to a report by Animal Medicines Australia AMA this could definitely be a good market to try and find some holes in. The pet food market was worth approximately 27 billion British pounds in 2018. Worldwide the compound annual growth rate of pet food.
The pet store market in the United States is a highly concentrated industry with two companies PetSmart and PetCo accounting for nearly half of the market in 2019For both dry dog food and dry. The good news is that younger pet owners stepped up. Online sales of pet food are increasing and contributing to this growth.
Published by Emma Bedford Nov 24 2020 This statistic displays the value of the pet care market by category in the United Kingdom UK in 2019. 61 of US pet owners are willing to pay more for foods that target their pets dietary needs. In 2018 the United States was the major revenue generated country in the world in terms of pet food with US28662 million in 2018 - the average per capita consumption of pet food stands at 18lb.
Value of pet food market in the United Kingdom UK from 2007 to 2018 in million GBP. The Australian pet food market is projected to witness a CAGR of 27 during the forecast period 2020-2025. The market value rose 16 over the past five years.
The pet food industry is one of those industries which has been performing well despite the economic downturn. In China where pet ownership is rare the market grew by 100 last year. You can see that in 1994 people spent about 15 billion on pet food and accessories and you can see how the figure climbed since then rising to an estimated 72 billion in 2018.
The global pet care market reached US125 billion in 2018 according to Jared Koerten head of pet care for Euromonitor International and 73 percent of that total about US911 billion was global pet food sales. According to the pet grooming industry statistics dog owners spend 73 a year on grooming. In 2017 the global pet-food market was worth 94bn and it is projected to grow even further as new markets open up.
The pet industry has been experiencing explosive growth. That year pet food amounted to a market value of. Pets have historically played an essential part in Australian households and the emerging time-constrained lifestyles are playing a crucial role in developing the shift towards retail and commercial products.
CAT PLAYS CATCH UP As a whole the cat sector continues to play catch-up with dog on the value front. According to The American Pet Products Association almost 85 million households have a pet and over the last 30 years pet ownership has. The United Kingdom pet food Market is projected to grow at a CAGR of 45 during the forecast period 2020-2025.
The average Gen X CU spent US23405 on pet food up slightly from 2017 with their total pet food spending for 2018 rising 79 to US832 billion. In 2019 pet food was the highest selling pet market product category and is projected to maintain the top spot into 2020 when sales are estimated to reach around 384 billion US. The vet care segment brought in the second highest revenue.
Lets take a look at our first graph. Its estimated the US pet industry reached 99 billion in 2020. Online sales in the US increased 15 percent in 2015.
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