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.
Ukraine petfood producer poised to export petfood from EU
Ukraine’s biggest petfood producer Kormotech plans to open a trade house in Lithuania to export its products, says general director Rostyslav Vovk.
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.