Top 10 pet food markets 2027 forecast; US top, Asia rising
Analysts forecast that in 2027, the United States will still be the largest pet food, treat and other product market on Earth, but it won’t be the fastest-growing by a long shot. Emerging markets in Brazil, China and similar nations have been growing quickly and will continue growing into 2027. Latin America’s dog and cat food markets may see growth of 7% to 8% in the coming five years. The Asia-Pacific region will also grow rapidly and may nearly equal Western Europe by 2027. Along with China, Indonesia, Taiwan and South Korea will be among the top ten pet food and treat markets in 2027.
Euromonitor International analysts forecast what ten nations will be the top pet food market from 2022 to 2027 and which will be growing fastest. Anissa Wolf, research manager for Euromonitor, presented that data at Foro Mascotas in Guadalajara, Jalisco, Mexico.
Forecast top 10 pet food markets 2022-2027
- United States – Between 2022 and 2027, the U.S. pet food market is forecast to have absolute growth reaching US$9 billion, but average compound annual growth (CAGR) may be less than 5%
- China – China will grow approximately US$8 billion during that time, but with an average CAGR greater than 10%.
- Brazil – Brazil’s absolute growth from 2022 to 2027 is forecast to trail China and the U.S. at approximately US$4 billion, with a CAGR of near 10%.
- Canada – Canada and the following nations will have absolute growth of less than US$2 billion each, but with different levels of CAGR. Canada’s pet food market may see a CAGR of approximately 5% from 2022 to 2027.
- Germany – Germany’s CAGR may be approximately 2.5% from 2022 to 2027 on average.
- Mexico – Another emerging market, Euromonitor forecast an average CAGR of greater than 5%.
- France – France’s pet food market may have an average CAGR of near 2%.
- Indonesia – Indonesia’s pet food market had the highest forecast average CAGR from 2022 to 2027 with 20%.
- Taiwan – Taiwan may have a CAGR near 7%.
- South Korea – South Korea’s forecast growth may exceed 5%.
Cat food growing fast globally
Among those top pet food markets and many others, cat food may become a larger segment of the market by 2027. Currently, cat food is the fastest growing category in both the United States and China, along with several European nations. The U.S. leads the cat food market, Wolf said, but the Asia-Pacific region has greater than 10% growth into the future.
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