From 2013 to 2015, US pet food exports to China saw a significant decline with values dropping from 11.39 million USD to 1.68 million USD, experiencing year-on-year variations ranging from -27.04% to as high as -79.85%. The market started to recover in 2016 and continued on an upward trajectory, with significant boosts in 2020 (192.99% increase) and stable growth observed through 2023. The CAGR from 2018 to 2023 was 35.1%.
As of 2023, the value of pet food exports stood at 40.03 million USD. From 2024 onwards, the forecast presents a stable increase with a 5-year CAGR of 3.36%, reaching 49.52 million USD by 2028. The total growth rate over the last five forecasted years is anticipated to be 17.99%.
Future trends to watch for:
- Market adaptations in response to increasing health and quality concerns among Chinese pet owners.
- Impact of trade policies and international relations on export dynamics.
- Potential market expansion through e-commerce and digital platforms driving demand.