Pet Food Processing - September 2023 - 47

TRADE
a world of
OPPORTUNITY
T
Promising prospects for US pet food exporters.
Pet food exports from the United States to China hit
By Jordan Tyler and Nicole Kerwin | petfoodprocessing@sosland.com
The pet food and treat industry in North America is
growing by leaps and bounds, and stateside manufacturers
are looking abroad to capitalize on pet ownership,
humanization and premium trends in international
markets. According to Bloomberg Intelligence, global
sales of pet food may top $137.4 billion by 2030. This
means there is ample room for US producers to venture
off the beaten path and into overseas markets.
The US Department of Agriculture (USDA) Foreign
Agricultural Service (FAS) has shared several reports in
recent months highlighting market expansion prospects
for US dog and cat food exporters. Continue reading for
a snapshot of these opportunities abroad.
China
January 2023 marked three years since the establishment
of a Phase One trade agreement with China, which
required China to purchase at least $32 billion in US
agricultural products - including pet food and " nonruminant
derived animal feed, " feed additives, dairy and
dairy-based products, meat and poultry, rice, and other
commodities - by the end of 2021.
As part of the agreement, China agreed to lift its import
ban on US pet food products containing ruminant
ingredients and begin allowing importation of US pet
food products formulated with poultry products. Three
years later, these trade negotiations have seen significant
returns for US pet food exporters in particular.
a new record of $264 million in 2022, making China
the second-largest export market for the United States,
just second to Canada. From January to May 2023, US
exports to China had already reached $139 million -
that's more than double compared to the same period
in 2022. In short, the United States has established itself
as China's top dog food and cat food supplier in just
two years. This growth is expected to continue as trade
agreements further lift exportation restrictions for US
pet food processors, and recent growth of the Chinese
pet population has certainly helped.
The country's dog and cat population rose from 69
million in 2021 to 186 million in 2022, according to
Euromonitor International. During the same period,
China's total dog and cat food imports increased from
$10 million to $672 million, making it the world's fastest-growing
importer, according to the FAS.
Chile and Peru
With a stable economic environment and high consumer
purchasing power, the USDA FAS has identified
Chile as an emerging opportunity for US agricultural
exporters. The country boasts the highest income per
capita across Latin America, and significant purchasing
power has fueled demand for higher-quality agricultural
products.
Chile is one of the most open economies in the world,
www.petfoodprocessing.net | September 2023 | PET FOOD PROCESSING 47
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Pet Food Processing - September 2023

Table of Contents for the Digital Edition of Pet Food Processing - September 2023

Pet Food Processing - September 2023 - Intro
Pet Food Processing - September 2023 - 1
Pet Food Processing - September 2023 - 2
Pet Food Processing - September 2023 - 3
Pet Food Processing - September 2023 - 4
Pet Food Processing - September 2023 - 5
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