With the rapid development of China's social economy, the market space of the pet industry is also expanding day by day. Pet keeping has become a lifestyle for more and more people, and pet owners are more willing to provide natural, healthy and high-quality food for their pets.
According to the "China Pet Industry White Paper - China Pet Consumption Report 2022", the number of pet (dog and cat) owners in China's cities and towns will exceed 70.43 million in 2022, a year-on-year increase of 2.9%. The considerable pet-raising population has also spawned a huge number of pet owners. market. my country's pet market will reach 270.6 billion yuan in 2022, a year-on-year increase of 8.7%, and is expected to increase to 297.7 billion yuan in 2023, of which pet products account for approximately 13.3% of the market share.
The pet health market is booming and industry penetration is increasing rapidly
With the rise of pet owners, especially the younger generation, the consumption habits of the pet industry have changed. They have put forward higher requirements for quality, aesthetic fashion, and pet health.
"Today's young consumers are more willing to buy good things for their pets." Imported pet food snacks and products from overseas professional pet brands are very popular. It is precisely based on this market trend that many domestic and foreign companies have entered the market and accelerated their layout.
Healthy consumption choices become more professional, and demand for imported brands deepens
With the consumption upgrade of pet owners and the rapid development of new business formats such as cross-border e-commerce, imported pet brands have seen greater market opportunities. The core considerations for consumers when choosing imported products are brand, raw materials, ingredients and advanced process technology. trust.
The products of domestic brands are mostly positioned as mid- to low-end grains, while the products of imported brands are mostly positioned as high-end grains. China's pet food industry is relatively low-concentration, with foreign brands led by Royal and Mars occupying major market shares and occupying an absolute competitive advantage. Comparing domestic and foreign brands, foreign brands have been researching in the field of pet nutrition for many years and have greater advantages in research and development.
From the perspective of consumer choice, consumers still have the inherent misconception that domestic pet food is "cheap and of poor quality". Consumers still tend to choose imported pet food or products produced domestically by foreign brands.