According to analysts at Ukraine’s largest pet food producer Kormotech, the Ukrainian pet food market grew to 58.3 thousand tons in January-April, up 11.4% from the same period last year.
As the company told Interfax-Ukraine, Kormotech continues to grow faster than the market, with sales up 14% year-on-year, and the company’s market share by weight up 0.6%. Currently, Kormotech leads the top four manufacturers in the domestic market.
It is also noted that at the end of the year, Ukrainian Kormotech entered the top 50 global pet food producers and was ranked 49th in the ranking according to the American industry publication PetfoodIndustry.
“For the sixth year in a row, we are among the top 21 fastest growing companies in the petfood industry. This demonstrates the constant growth and demand for our product in the market. Moreover, despite the war, our foreign partners are ready not only to sell our products, but also to expand cooperation with Kormotech,” explained Rostyslav Vovk, CEO and co-owner of Kormotech.
PetfoodIndustry ranks the world’s largest companies by annual revenue.
The main competitors of the Ukrainian company, according to the co-owner, are Empresas Carozzi from Chile, Irish Dog Foods from Ireland, and Whitebridge Pet Brands from the United States.
In 2023, Kormotech’s turnover increased by 22.5% to $152 million from $124 million in 2022. The ratio of sales abroad and in Ukraine in tons is now 31% to 69%, respectively (in 2022 it was 28% abroad and 72% in Ukraine).
Kormotech brands grew most dynamically compared to last year’s sales in the markets of Romania (+35%), Poland (+11%) and Moldova (+11%). Over the past year, the company signed contracts with partners from Malaysia, started sales in Finland, and is actively developing in Spain and Italy, expanding its presence to 42 countries. At the same time, Kormotech retained its leading position in the Ukrainian market.
Kormotech is a global family-owned company with Ukrainian roots that has been producing high-quality cat and dog food under the Optimeal, Club 4 Paws, Woof! and Meow! brands since 2003. The company has production facilities in Ukraine and the EU, with a product range of over 650 items. Kormotech is a leader in Ukraine, one of the world’s top 50 pet food producers and one of the top 21 most dynamic pet food brands. The ultimate beneficiaries of Kormotech are Olena and Rostyslav Vovk.
