Hong Kong: Consumer Spending on Premium Pet Foods Expected to Grow

In 2023, Hong Kong was the tenth export market for U.S. pet food. Pet owners in Hong Kong value U.S. pet food for its high safety and quality and have confidence in U.S. origin and branding. From 2021-2023, U.S pet food exports to the city held steady between $32-$35 million. Hong Kong re-exported $47 million to other markets and retained $112 million for domestic consumption. Last year, Hong Kong’s global pet food imports continue to recover for a second consecutive year, growing 2 percent from 2022 to $159 million. The increasing value of retained pet food imports signals promising market potential for U.S. exporters. Pet owners’ interest in pet food with less common meat ingredients (rabbit), smaller and easy to carry packaging, and pet supplements is also on the rise. Hong Kong consumer spending on premium pet food is expected to continue growing steadily, and domestic sales are expected to reach $1 billion by 2028.