Packaged Facts: Global Pet Product Sales Reach $125 Billion Lead by United States

ROCKVILLE, Md., Oct. 1, 2020 /PRNewswire/ -- Global sales of pet products reached US$125 billion as of 2020, with pet food accounting for three-fourths of global sales. This is according to market research firm Packaged Facts in the recent report Canadian Pet Market Survey 2020.

In recent years, North America and Western Europe have been leaders in global pet food sales, including sales of important subcategories such as premium and functional pet food. Europe and North America combined also account for the majority of the world's pet food production, followed distantly by Latin America and Asia/Pacific region.

The United States is by far the largest pet products market, estimated at US$59 billion in 2020, for an approximately 47% global share. The overall U.S. pet food and treats market is estimated at US$39 billion in 2020, compared with nearly US$20 billion for non-food pet supplies. Veterinary and non-medical pet service revenues, although in flux due to the impacts of the COVID-19 pandemic, bring the overall U.S. pet market to approximately US$100 billion in 2020. Packaged Facts estimates the dog and cat food category (excluding treats and chews) at $21 billion in U.S. sales in 2020.

A second tier of international markets for pet food, with combined dog/cat food sales of US$1 billion or more, is now headed by Brazil. This tier also consists of Argentina, Australia, Canada, France, Germany, Italy, Japan, Mexico, Russia, Spain, and the United Kingdom.

In Canadian Pet Market Survey 2020, Packaged Facts projects Canadian retail sales of dog and cat food to approach US$1.8 billion in 2020, up 5% over 2019, buoyed by the pet adoption surge in the wake of the COVID-19 pandemic. For this same reason, a robust 4.5% compound annual growth rate (CAGR) is projected for the category for the 2020-2014 period, lifting sales to US$2 billion by 2023 and US$2.1 billion in 2024.

About the Report
Please contact Packaged Facts' Communications Manager Daniel Granderson at [email protected] to request the report executive summary.

Canadian Pet Market Survey 2020 is now on sale. Purchase the report by visiting: https://www.packagedfacts.com/Canadian-Pet-Survey-13509681/. This report on the Canadian pet industry draws primarily on a bilingual English/French survey conducted by Packaged Facts of 1,000 Canadian pet owners. Canadian Pet Market Survey 2020 focuses on dog and cat food, while also providing a topline overview of broader product purchasing rates, retail and Internet dynamics, use of veterinary and pet care services, and pet ownership patterns..

About Packaged Facts
Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, and pet products and services. Packaged Facts also offers a full range of custom research services. Reports can be purchased at our company website and are also available through MarketResearch.com.

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SOURCE Packaged Facts

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