The import of dog or cat food to China has exhibited significant growth over the past decade, culminating in 2023 with a recorded value of $242.78 million. From 2022 to 2023, the year-on-year growth rate was 6.3%, continuing the positive upward trend from 2021 to 2022's 6.87%. Over the last five years, the Compound Annual Growth Rate (CAGR) was 3.3%, reflecting a deceleration compared to the dramatic increases seen in earlier periods.
Forecasts project continued growth in imports, anticipating the value will reach $310.69 million by 2028. This implies a forecasted five-year CAGR of 3.89%, suggesting a steady, albeit slower, growth trajectory. Notably, this period is expected to achieve a cumulative growth rate of 21.01%.
Future trends to watch for include:
- Increased demand driven by rising pet ownership and the premiumization of pet food products.
- Potential impacts of regulatory changes on import conditions and consumer preferences.
- Emerging trends in pet health and wellness influencing product offerings.
