China Pet Food Market Data ReviewHumanization Of Pets Is A Growing Trend Is Propelling The Market GrowthThe China Pet Food Market has generated a revenue of $16,350 million in 2016. Commercially made pet foods from China include raw or refrigerated components such as fresh vegetables, fruits, supplements, meats, and bones. Fresh pet meals have a shorter shelf life than commercial pet feeds, but they are a superior source of nutrients and are simpler to digest, so they require less yard cleanup. Pet owners in China nowadays demand high-quality ingredients with considerable health advantages in their pet diets. Human-grade pet treats prepared with high-quality ingredients are frequently linked with freshness. Human-grade pet foods promote digestion and help pets establish a strong immune system because they include no additives. As the humanization of pets grows more common, the popularity of human-grade pet meals is expected to rise. Furthermore, a number of vendors in the market are focusing on delivering human-grade fresh pet foods.
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The dog & Cat category had the most market share in 2016. Dogs have long been the most popular pets around the world, and they provide a significant amount of the money generated by the Chinese pet food sector. China is third in the world in terms of dog ownership, with about 27 million dogs as pets. Cats were the second most popular pet, with a big amount of the earnings coming from them. Pet humanization, the growing trend of e-commerce, and the rise in demand for natural pet food are some of the key forces driving the pet food market in the country. Increased consumer awareness of pet health has led to a greater emphasis on improving dog weight and overall health. Customers have a wide selection of foods to choose from and place a high value on product brands. Manufacturers are striving hard to break into the luxury food goods market and boost their overall profit margins. However, the ornamental fish food category has also gained demand in the market between 2016 and 2020. The practice of keeping several ornamental fish is becoming more popular, resulting in increased product demand. Ornamental fish, unlike dogs and cats, require less training and can spend more time alone. Furthermore, as compared to keeping a dog or cat, the cost of owning a fish is extremely low. In addition, when compared to dogs and cats, the short lifetime and low rate of food intake are found to be the major factors driving low product demand in this market.
China Pet Food Market Growth Drivers:
The Industry Is Rising As A Result Of The Growing Trend Of Humanizing Pets.
The expansion of the middle class, rising urbanisation, an aging population, and people marrying and having children later than in the past are all contributing to China becoming a pet-owning and loving society. Pet humanization is becoming more popular in China as people’s lifestyles change. The growth in pet ownership among younger generations has been influenced by social networking and acceptance of the western lifestyle. According to the National Bureau of Statistics of China (NBS China), the majority of people in China who keep pets are old. A pet is owned by around 61 percent of those aged 65 and over. The elderly prefer little, easy-to-care-for pets to proper babysitting duties. The country’s urbanisation trend has a greater impact on pet food sales because these things are more handy and more suited to city dwellers’ hectic lifestyles. The Chinese market saw an increase in disposable income as well as a greater understanding of the benefits of feeding commercially prepared pet food to pets. The key drivers of market growth in the region are an increasing pet population and growing pet nutrition product costs.
China’s Competitive Climate Is Being Reshaped By The Strong Success Of Indigenous Players Is Fuelling Market Expansion.
Domestic companies currently hold about half of the top ten positions in terms of value in dog food, and their market share is increasing. Increased innovation and public awareness also aided the historic expansions. The success of domestic manufacturers in the Chinese pet food industry highlights the importance of understanding local culture and surroundings in this unique and varied industry. Local competence is more important than ever to appeal to Chinese clients, as the unforeseen pandemic crisis has proved. Companion animal culture in China has traditionally centered on high-income consumers with a strong fondness for imported premium brands, which are frequently seen as the finest option for their pets. However, pertaining to the great performance and growing prominence of domestic players, this is changing.
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The Major Players in this Market Include
The major companies in the China Pet Food Market include Mars Incorporated, Nestle Purina Pet Food, Bridge PetCare, Yantai China Pet Food Co. Ltd, Huaxing Pet Food Co. Ltd, Neovia, Fwusow Industry Co. Ltd, and Chengdu Care Pet Food Co. Ltd.
In December 2016, Haiwei Co. Ltd. and BioMar Groups entered into an acquisition where they later acquired 100% of the shares in the fish feeding company which is situated in the South of China.
Over the years, companies have mainly focused on research and development and have been investing in developing various feed products. The advancements in feed related products drove the market during 2016-2020.
Relevant Title:
Pet Food Market
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