The UK’s pet food export to China has shown considerable fluctuations over the past decade, notably peaking in 2020 with 78 metric tons. However, significant declines followed, with the volume settling at 28 metric tons in 2023. Year-on-year variations have been stark, with significant drops in certain years such as 2016 and 2021, countered by spikes in years including 2020. The Compound Annual Growth Rate (CAGR) over the last five years has been negative, indicating an overall declining trend until recently.
From 2024 onward, forecasts suggest a stabilization, with projected slow growth leading up to 2028. The forecasted 5-year CAGR is modest at 0.68%, denoting a potential small uptick in exports to China.
Future trends to watch for:
- Economic policies between the UK and China influencing trade agreements.
- Growing trends in premium and specialized pet food that could drive demand.
- Changes in pet ownership demographics in China impacting consumption patterns.
