Overview of China’s Pet Food Status in 2024

2024-08-01

Market size: According to China Report Hall, in 2020, the scale of China's pet food market was 43.6 billion yuan, and in 2021 the market size will reach 53.6 billion yuan, with a growth rate of 22.94%, an average growth rate of 25%, and a growth rate much higher than the global average. In 2024, the pet food market continued to expand. The continuous expansion of the market scale not only attracted the attention of traditional pet food companies, but also promoted the influx of emerging high-tech companies. More and more people are beginning to choose high-quality and high-nutrition pet food to meet the needs of their pets. At the same time, some customized pet catering services are gradually emerging, bringing more innovation and novel experiences to the market.

Consumption structure: The "2023-2028 China Pet Food Industry Development Insight and Market Prospect Forecast Research Report" released by China Business Industry Research Institute shows that in China's pet food consumption structure, pet staple food (including dry food and wet food), pet snacks and pet health products account for 90%, 8% and 2% respectively. Pet staple food occupies a dominant position in pet food. Pet staple food is a professional product designed specifically for the nutritional needs of pets. It is used to replace homemade pet food or leftovers for feeding. It can meet the comprehensive nutritional needs of pets when used alone. It is a rigid product in pet consumption.

Brand competition pattern: From the perspective of the pet food industry chain, the upstream is mainly suppliers of bulk commodities such as grains and meat. Since raw materials account for a high proportion of the main business costs, the gross profit of pet food companies is greatly affected by the price fluctuations of upstream raw materials. The downstream of the industry chain is divided into three parts: online channels, offline channels and terminal direct users. Among them, online channels are mainly online flagship stores and franchise stores, and offline channels are mainly professional pet stores. Traditional pet food brands such as Nestle, Whippet, Baililian, Mingchong, etc. still occupy a place in the market. At the same time, emerging brands are constantly emerging, such as Caocao Dog, Meow Star, etc. In brand competition, product quality and reputation have become important factors for consumer choice.