Pet Food - Mongolia

Mongolia

Revenue in the Pet Food market amounts to €3.62m in 2024. The market is expected to grow annually by 6.97% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€54,820m in 2024).
In relation to total population figures, per person revenues of €1.03 are generated in 2024.
In the Pet Food market, volume is expected to amount to 3.17m kg by 2029. The Pet Food market is expected to show a volume growth of 4.4% in 2025.
The average volume per person in the Pet Food market is expected to amount to 0.7kg in 2024.

Key regions: Russia, Spain, Philippines, United Kingdom, India

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Pet Food market in Mongolia is seeing minimal growth due to factors such as limited consumer awareness, lack of access to digital technologies, and a preference for traditional pet feeding methods. This slow growth rate is impacted by a combination of cultural and economic factors in the region.

Customer preferences: As pet ownership becomes more common in Mongolia, there has been a rise in demand for premium and specialized pet food options. This trend is driven by a growing awareness and prioritization of pet health and well-being among consumers. Additionally, there has been an increase in online purchasing of pet food, as digital convenience and accessibility becomes more important for busy pet owners. This shift towards premium and online pet food options highlights the evolving lifestyle and cultural values of Mongolian consumers.

Trends in the market: In Mongolia, the Pet Food Market is experiencing a shift towards natural and organic pet food products, driven by increasing pet humanization and health-conscious consumer preferences. This trend is expected to continue, with more players entering the market and offering premium pet food options. This trajectory presents opportunities for industry stakeholders to tap into the growing demand for high-quality pet food, while also facing potential challenges in terms of supply chain and production costs. Furthermore, the rise of e-commerce and online shopping in Mongolia is also impacting the Pet Food Market, with more consumers opting for convenient and efficient ways to purchase pet food products. This trend may lead to increased competition among online retailers and traditional brick-and-mortar stores, as well as the need for innovative marketing and distribution strategies to reach a wider customer base.

Local special circumstances: In Mongolia, the Pet Food market is influenced by the country's vast and sparsely populated landscape, with a large portion of the population living in rural areas. This has led to a higher demand for locally sourced and affordable pet food options, as well as a preference for traditional ingredients such as horse meat and dairy products. Furthermore, the country's nomadic culture and strong connection to animals have also shaped consumer preferences for natural and organic pet food products. The regulatory environment, with strict import regulations and limited availability of international brands, has also played a significant role in shaping the dynamics of the Pet Food market in Mongolia.

Underlying macroeconomic factors: The Pet Food Market within The Food market is heavily influenced by macroeconomic factors such as consumer spending patterns, disposable income levels, and population growth. In countries with stable economic conditions and a growing middle class, there is a higher demand for premium pet food products. Additionally, favorable government policies and investments in the pet food industry can also drive market growth. Conversely, a slowdown in the economy or a decrease in consumer confidence can have a negative impact on the Pet Food Market, as consumers may cut back on non-essential purchases such as pet food.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.