A global high

Sales totalling $ 75.2 bn were transacted around the world in the pet food industry in 2016, as reported recently by the market research company Euromonitor International. 
The largest share of the total turnover was contributed by North America and Western Europe. North America dominated the year with a proud $ 31.2 bn, nearly 4 per cent higher than 2015. Western Europe followed closely with sales of $ 21.2 bn and modest growth of 2 per cent over 2015.
According to Euromonitor, Latin America ranked third with $ 9.2 bn in sales. What is outstanding is the high year-on-year growth of 13.6 per cent compared with 2015. With a plus of almost 6 per cent and sales of $ 6.5 bn, the regions of Asia, Australia and Oceania that are located in or near the Western Pacific follow this. Eastern Europe was clearly behind Western Europe with sales of $ 4 bn, but recorded a strong increase of 7.4 per cent.
Let's look at the region around Australia, New Zealand, New Guinea and the surrounding islands of Melanesia, as well as parts of Indonesia. Australasia accounted for sales of $ 2.5 bn in 2016, with sales up 2 per cent year on year. The Middle East and Africa have the lowest sales, spending $ 711 mio in 2016, but the strong year-on-year growth of 10.6 per cent is impressive.

It is noticeable that the pet food industry is booming in all parts of the world. All listed regions can record a positive uptrend. It is interesting to observe how different the pet product industry is in separate countries: in North America and Western Europe, the industry is firmly established and accounts for over 50 per cent of the total turnover of the pet food industry. However, looking at the development of all countries, it can be seen that in many parts of the world the industry is still in an early phase and continues to develop. Latin America and the Middle East and Africa in particular generate double-digit percentages with regard to growth.