For the first 6 months of 2020, Hong Kong’s imports of dog and cat food reached nearly US$?80 million, an increase of almost 23% year-on-year.
In Hong Kong, petfood refers primarily to dog and cat food, which account for 99% of all pet food sales. In 2019, Hong Kong’s imports of dog and cat food reached US$ 139 million, making it the world’s 11th-largest market.
Strong demand for petfood in New Zealand
New Zealand exports a large amount of petfood, though there is also a strong import demand. In 2019, petfood imports reached US$ 120 million with the US being the number one supplier.
The US is the market leader, with nearly 50% market share, or US$ 69 million of dog and cat food imports into Hong Kong, followed by Thailand, (12%) and Canada (9%).
While no import permit is required for petfood, Hong Kong’s Agriculture, Fisheries and Conservation Department encourages importers to provide a veterinary certificate endorsed by the relevant official veterinary authority in the country of origin to accompany shipments.
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Hong Kong is not only a market for dog and cat food, it is also a regional hub. In 2019, Hong Kong re-exported US$ 70 million (50%) of these imports to other markets in the region, most notably China (US$ 52 million).
Indian petfood market set to grow
With over 20 million dogs, the Indian petfood market is growing at a compound annual growth rate (CAGR) of 13.9% and will be worth USD$ 430 million by the end of 2020.
While in the first 6 months of 2020, Hong Kong imports of dog and cat food reached nearly US$ 80 million, an increase of almost 23% over the same period in 2019. The sale of dog and cat food is expected to reach over US$ 200 million in 2020, and grow to US$ 264 million by 2025, according to Euromonitor International.
The information in this article was extracted from a USDA GAIN report prepared by Caroline Yuen and Chris Li.
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