South Africa, Egypt and Nigeria will hold 70% market shares respectively despite boasting populations totalling 1.2 billion on Africa. Businesswire released a report detailing this phenomenon; their latest projection noted a compound annual growth rate (CAGR) projection for this region at just 3% over 2022-2027 – far lower than projections made for other regions by similar reports.
Africa is a net importer of pet food According to trade statistics for Africa, only few countries are active in this field; therefore it remains a net importer, with limited export options. Over a 10-year period between 2012-2021 imports increased 97% – rising from US$101.6 million to US$200.2 million across Africa.
South Africa dominates pet food imports. In 2012, South Africa held 46.1% of all pet food imports (US$49.8 million), though by 2021 that share had decreased to 31.5 % (US$63.1 million) as other nations increased demand.
Morocco has experienced exceptional pet food import growth over the past decade, increasing from 4.4% (US$4.4 million) of imports market share in 2012 to 17.3% in 2021 – outpacing South Africa by nearly 7 percentage points! Third place goes to Egypt which saw their share grow from 5.5% (US$5.6 million) in 2012 to 7.8% (15.7 million).
These three countries accounted for 56.6% of Africa’s pet food import market share in 2021. Also noteworthy, Namibia and Angola made up 65.9%.
South Africa Is Africa’s Only Net Exporter of Pet Food
When it comes to pet food exports in Africa, South Africa stands out with an astounding 94.4% market share for its pet food exports market share and has witnessed its exports increase 108.8% between 2012 (US$30.6 Million) and 2021 (US$ 63.9 Million). Most South African pet food exports head directly towards India, Namibia and Malaysia which together account for 54.5% market share of South African pet food exports market shares.
South Africa’s pet food market was estimated to be worth US$500.6 million in 2021, with compound annual compounded growth rate of 3.6% over five years, as reported by Research Markets.