U.S. dog and cat food exports have risen 3500 percent over the past five years, one of the fastest growing categories of trade. It is on a path to rise over 200 percent in 2023. There are a few different reasons for this explosive growth. The first is that the U.S. has the highest per capita rate of pet ownership. Couple that with being one of the highest income countries and people are willing to spend more on pets. Around 36.8 percent of their expenditures on dogs is for food and that number rises to 47.8 percent for cats. At the same time, pet ownership is rising in other countries where a domestic pet food industry has been slower to develop. One can also credit U.S. pet food manufacturers. Using knowledge gleaned from human food scien...

TAGS – North America, Macroeconomics