The Pet Market and the great opportunity for international expansion in this segment
The Pet Market, which moves billions of dollars in revenue per year around the world, grows more and more, as the culture of adoption and the search for innovative products for pets grows.
The Brazilian importance in this sector and its perspectives
According to the Ministry of Agriculture, retail sales of the Pet Market in the world were approximately US$124.6 billion in 2018. And, from 2017 to 2018, Brazilian exports in this segment increased by 24%, totaling US$260.6 million.
A study carried out by the GS& Gouvêa de Souza Group, a specialist in the Brazilian retail and consumption market, pointed out that the pet market should earn around R$ 20 billion in the year 2020 in the country, and according to ABINPET (Brazilian Association of Pet Products Industry), the branch that earns the most in the segment is food, accounting for 70% of the Pet Market, and news in this sector can be great opportunities for the expansion of products to the international market, which always looking for innovations.
Thus, it can be concluded that investing in the export of products from the Pet Market, as it is a very broad segment that covers food, leisure and general care for pets, and which is still growing even more in times of crisis, is an excellent choice for anyone looking to expand their business around the world.
By Nadia Haddad on 09/19/2020