Although there is still much potential for growth on the domestic pet food market, pet food turnover is expected to expand at a more moderate rate in Hungary over the coming years than in other central and eastern European countries as a result of the economic crisis, according to a recent study from the Agricultural Economics Research Institute.
Sales of canned pet food has declined slightly in Hungary this year, while dry pet-food turnover has stagnated.
Hungarian pet food manufacturers generated export revenue of HUF 44.7 billion (EUR 166.92m) last year, nearly two-thirds of their total 2008 revenue of HUF 62.4 billion, the study said. Around 20% of pet dogs and almost 30% of pet cats are fed manufactured pet food in Hungary.
Figures from the Hungarian Pet Food Association, the seven members of which account for 97% of domestic output, show that 480,000 tons of pet food was produced in Hungary in 2008, 4% more than in the previous year. Domestic consumption is around 160,000 tons per year. (MTI-ECONEWS)