Global Food

From Intrafish on January 28, the United States Packaged Facts released a data report on pet food. In 2020, the global pet product market value reached 125 billion U.S. dollars, a year-on-year increase of 5%. Among them, pet food sales reached 94 billion dollars.

Pet food is getting more refined and delicious. Pets’ health, brain development, shiny fur and longevity have become more important, which require better nutrition.

In fact, China will surpass the United States in the next five years to become the world's largest pet food market and provide huge opportunities for seafood manufacturers. Analysis pointed out that "pet food" is a gold mine, and it seems that few seafood companies seize this opportunity.

Those well-known companies in the pet food market, such as Thai unio, New Zealand King Salmon, Oceana, Aker Biomarine, benefit from the profits brought by the pet market. Even during the COVID-19 pandemic, the company’s revenue is showing a growing trend .

Thai Uion's pet care and value-added commercial services revenue increased by 12% in the third quarter of 2020. South Africa's Oceana Group stated that as the supply of fish meal and fish oil in the US pet food market improves, the trend of continued growth will continue in 2021.

This is of course a little-known market. Few companies invest a lot of money in researching traditional seafood consumption. However, because Omega-3 is popular all over the world, Omega-3 is also an emerging and growing market segment.

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Business Division of Food Safety and Regulatory Compliance of Global Foodmate provides food standards & regulations research, labelling compliance consulting/Chinese label design, industry public opinion monitoring and analysis, registration services (of Infant formula, FSMP, Health food, Novel Food Ingredients, Novel Food Additives, New Varieties of Food-Related Products and Overseas manufacturers of imported food) and other comprehensive food safety solutions for domestic and overseas enterprises and institutions in food industry. 

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