The Pet Economy Report by data analyst Bloomberg Intelligence, presented at the end of March 2023, forecasts a bright future for the pet industry: according to the report, global sales in the industry will rise from the current 320 billion US dollars to 500 billion US dollars in the next seven years. According to the forecast, pet food will remain the largest product segment, with an expected increase in sales of 52 percent to over 135 billion US dollars.
According to Euromonitor International, the total global revenue of the pet food industry in 2022 was over 110 billion US dollars, which corresponds to an increase of three percent compared to the previous year. With a 40 percent market share, the North American market leads the way, followed by Europe (28.7 percent) and Asia (19.1 percent). E-commerce is growing particularly strongly with growth rates of well over 150 percent in the period from 2015 to 2022 (source: Euromonitor International/Interzoo Academy). According to a survey by NielsenIQ, online purchases in the pet care sector already account for 38 percent of sales in the USA. According to market data, inflation-related economic developments are not affecting the pet food market either. On the contrary, the increasing number of pet owners with higher incomes enables the successful distribution of higher-quality and more expensive products, especially in North America, Western Europe and Australasia.
The Interzoo Get Started Pavilion
As one of the most important conferences of the pet food industry, the Petfood Forum reflects the growing importance of the pet food sector in the pet industry. At the forum organised by WATT Global Media (1 – 3 May 2023, Kansas City), Interzoo is represented with a special service offer: The Interzoo Get Started Pavilion is another component of the partnership between Interzoo organiser Wirtschaftsgemeinschaft Zoologischer Fachbetriebe (WZF) and WATT Global Media.
The Pavilion supports exhibitors in their expansion strategy on the international pet food market. At special conditions, participants benefit from a turnkey exhibition solution, the Petfood Forum supporting programme and a digital outreach package – a 360-degree approach to establishing and developing business contacts in the international petfood industry. The Interzoo Get Started Pavilion can be found at Petfood Forum 2023 under stand number 2804.
The products and services presented there reflect the trends in the industry: Madebymade's insect products and Newflands' fish oil-based product range are representative of the need for sustainable, natural and environmentally friendly solutions. Dry Food New Zealand and Salvi Chemicals Ltd., among others, will focus on reliable supply chains and larger trade volumes in the area of supplier products for food production.
For more information on the participants of the Interzoo Get Started Pavilion, please visit the companies' websites:
https://www.dryfoodnz.com/
https://madebymade.eu/
https://www.newflands.com/
https://www.salvichem.com/
