Hong Kong: Pet Owners Sniff Around for Premium Foods
Link to report:
In 2021, Hong Kong was the thirteenth largest market for U.S. pet food exports and a hub for pet food trade to the region. Hong Kong pet owners welcome U.S. pet food for its safety and quality. Despite lower exports in 2021, the United States is still the lead supplier, holding a 29 percent share of the Hong Kong pet food market. This share is expected to continue recovering in 2022 as the local economy is expected to recover in the second half of the year as the pandemic situation improves. While Hong Kong’s global pet food imports slowed in 2021, the value of retained (not re-exported) pet food imports grew, signaling good market potential for U.S. exporters. Steady growth of the pet population will also encourage domestic pet food sales which are expected to reach $844 million by 2026.
