ROCKVILLE, MD. — Pet food accounts for 75% of global pet product sales this year, according to market research firm Packaged Facts. The firm estimates the global pet product market sits at $125 billion total, with the United States representing the largest share of global sales.
US pet product sales are projected to reach $59 billion in 2020, representing 47% of global pet product sales. Pet food and treat sales are estimated at $39 billion in sales, and non-food pet supplies make up nearly $20 billion of the market. Packaged Facts reports an estimated $21 billion in dog and cat food sales in the United States for 2020.
Packaged Facts projects 5% sales growth for dog and cat food in Canada between 2019 and 2020, reaching approximately $1.8 billion USD by the end of 2020. The firm cited increased pet adoption rates amid the COVID-19 pandemic to determine a 4.5% CAGR for pet food between 2020 and 2024. Canadian retail pet food sales are expected to reach $2 billion USD by 2023 and $2.1 billion USD by 2024.
Countries with at least $1 billion in combined dog and cat food sales include Brazil, Argentina, Australia, Canada, France, Germany, Italy, Japan, Mexico, Russia, Spain and the United Kingdom.
North America and Western Europe have driven much of global pet food growth in recent years with trends toward function, premiumization and humanization. Combined, the two regions produce a majority of pet food sold globally, with Latin America and the Asia Pacific region following behind by a wide margin.
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