China will become the world's largest pet food market

On January 28th Packaged Facts released a data report on pet food, which will be worth $125 billion globally by 2020, up 5% year-on-year, with pet food sales reaching $94 billion.
pet food is becoming more refined and delicious.
today's pet owners increasingly see them as family members, and their health, brain development, shiny fur and longevity become more important, requiring better nutrition and attention to detail.
FISH4Dogs, a British brand that chooses salmon, krill, green-libel mussel extract, seaweed and other algae, is rich in Omega-3 unsaturated fatty acids, which cost $11.45 a kilogram, about twice the price of the average salmon on the market the previous week, but is still popular with dog owners.
company's UK company register shows that its turnover grew by 18 per cent between 2018 and 2019, continuing the growth trend of recent years, particularly in the Asia-Pacific region.
, China will overtake the United States as the world's largest pet food market within the next five years and offer huge opportunities for producers of marine products.
, "pet food" is a gold mine, and few sea-product companies seem to have seized the opportunity.
companies that are well known in the pet food market, such as Thai unio, New Zealand King Salmon, Oceana, and Aker Biomarine, benefit from the profits from the pet market, and even during the COVID-19 pandemic, the company's earnings are growing.
Theai Uion's pet care and value-added business services grew 12 percent in the third quarter of 2020, and South Africa's Oceana Group said it would continue to grow in 2021 as the U.S. pet food market improves in fishmeal and fish oil supplies.
in the face of the crisis, many industry executives around the world have praised the benefits of diversification, a shift to refrigeration, retail and new geographic markets, but few see pet food as one of these new areas, according to analysts.
Of course this is a lesser-known market, with few companies investing heavily in traditional sea product consumption, but Omega-3 is also an emerging and growing market segment due to its global popularity.