Animal Food Market in the USA - Key Insights

IndexBox has just published a new report, the U.S. Animal Food (Except Dog And Cat) Market. Analysis And Forecast to 2025. Here is a summary of the report's key findings.

The revenue of the animal food market in the U.S. amounted to $30.5B in 2018, falling by -2.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, animal food consumption, however, continues to indicate a measured reduction. The most prominent rate of growth was recorded in 2015, with an increase of 2.7% year-to-year. Over the period under review, the animal food market reached its peak figure level at $34.8B in 2013; however, from 2014 to 2018, consumption stood at a somewhat lower figure.

Animal Food Production in the USA

In value terms, animal food production totaled $30.8B in 2018. Over the last decade, animal food production, however, continues to indicate a measured curtailment. The most prominent rate of growth was recorded in 2015, with an increase of 2.4% year-to-year.

Exports from the USA

In 2018, animal food exports from the U.S. stood at 864K tonnes, standing approx. at the previous year. The total export volume increased at an average annual rate of +3.0% over the period from 2013 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations over the period under review.

In value terms, animal food exports totaled $506M (IndexBox estimates) in 2018.

Exports by Country

China (163K tonnes), Japan (137K tonnes) and South Korea (110K tonnes) were the main destinations of animal food exports from the U.S., together accounting for 47% of total exports. These countries were followed by Indonesia, Trinidad and Tobago, Viet Nam, the Philippines, Colombia and Taiwan, Chinese, which together accounted for a further 37%.

From 2013 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by Colombia, while the other leaders experienced more modest paces of growth.

In value terms, China ($115M) remains the key foreign market for animal food exports from the U.S., comprising 23% of total animal food exports. The second position in the ranking was occupied by Japan ($48M), with a 9.5% share of total exports. It was followed by Indonesia, with a 9.4% share.

Export Prices by Country

In 2018, the average animal food export price amounted to $586 per tonne, dropping by -2.3% against the previous year. Over the period under review, the animal food export price continues to indicate a slight decrease.

Export prices varied noticeably by the country of destination; the country with the highest export price was Taiwan, Chinese ($850 per tonne), while the average price for exports to South Korea ($306 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of export prices was recorded for supplies to Taiwan, Chinese, while the export prices for the other major destinations experienced mixed trend patterns.

Imports into the USA

In 2018, the amount of animal food (except dog and cat) imported into the U.S. amounted to 291K tonnes, growing by 7.4% against the previous year. Over the last decade, the total imports indicated a prominent increase from 2013 to 2018: its volume increased at an average annual rate of +10.2% over the last five year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the animal food imports decreased by -1.8% against 2016 indices. The growth pace was the most rapid in 2014, when the imports increased by 27% against the previous year. Over the period under review, animal food imports attained their maximum at 296K tonnes in 2016; however, from 2017 to 2018, imports stood at a somewhat lower figure.

In value terms, animal food imports amounted to $428M (IndexBox estimates) in 2018. The total import value increased at an average annual rate of +4.3% from 2013 to 2018; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed over the period under review. Over the period under review, animal food imports attained their peak figure in 2018, and are likely to continue its growth in the near future.

Imports by Country

In 2018, Malaysia (87K tonnes) constituted the largest supplier of animal food to the U.S., with a 30% share of total imports. Moreover, animal food imports from Malaysia exceeded the figures recorded by the second largest supplier, China (38K tonnes), twofold. The third position in this ranking was occupied by India (34K tonnes), with a 12% share.

From 2013 to 2018, the average annual growth rate of volume from Malaysia totaled +20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.2% per year) and India (+137.4% per year).

In value terms, France ($69M), China ($64M) and Malaysia ($58M) appeared to be the largest animal food suppliers to the U.S., with a combined 45% share of total imports. These countries were followed by Germany, India, the Netherlands, Norway, Belgium, Italy, Indonesia, Ireland and South Korea, which together accounted for a further 30%.

Import Prices by Country

The average animal food import price stood at $1.5 per kg in 2018, coming down by -5.7% against the previous year. Over the last decade, the animal food import price continues to indicate a deep shrinkage.

There were significant differences in the average import prices amongst the major supplying countries. In 2018, the country with the highest import price was France ($7,787 per tonne), while the price for South Korea ($132 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of import prices was attained by Germany, while the import prices for the other major suppliers experienced mixed trend patterns.

Companies Mentioned in the Report

Southern States Cooperative, Jbs United, Inc., Valley Proteins, Furst-Mcness Company, Hi-Pro Feeds, H.J. Baker & Bro., Milk Specialties Company, Stillwater Milling Company, Cooperative Producers, Kent Nutrition Group, Provimi North America, Purina Mills, Reconserve, ADM Alliance Nutrition, American Proteins, Goldsboro Milling Company, Farmers Union Industries, O.K. Industries, Vp Holdings Corporation, Equity Group - Kentucky Division LLC, Heartland Pet Foods Manufacturing, Blue Buffalo Pet Products, Inc.

Source: IndexBox AI Platform