August 24th, 2022
China Pet Food Market
The Pet Food Market in China is anticipated to grow at a higher CAGR over the forecast period (2020-2027).
The factors driving the growth of Pet Food Market includes rising trend of pet humanization, growth in pet adoption rates, growing demand for cat and dog food and growing emphasis on providing adequate nutritional values to pets. According to the report published by Statista, the Cat Food Market in China is expected to increase from 59.5 billion yuan to reach 153 billion Yuan by the end of 2025 and the Dog Food Market will witness a jump from 56.4 billion Yuan to reach more than 100 billion by 2025, which are expected to boost the China Pet Food Market size in the approaching years. Moreover, the increasing geriatric population, rising popularity of natural and organic pet food products, rapid urbanization and growing disposable incomes, are some of the additional factors supplementing the market’s growth. In addition, increasing investments by leading players to develop innovative pet food products, shift in consumers preference towards using e-commerce platforms to purchase pet food products and the rising influence of Western Culture on the Chinese Society, are further contributing to the market’s growth.
However, the growth of China Pet Food Market is hindered due to strict Government regulations regarding the production of pet food products in China.
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The leading players operating in the market are Royal Canin China Co. Ltd, Chengdu Care Pet Food Co. Ltd, Ronsy Pet Food Co. Ltd, Nestlé Purina, Mars Incorporated, Bridge PetCare, Sanpo Pet Food Co Ltd, Yantai China Pet Foods Co., Ltd., and Huaxing Pet Food Co., Ltd., among others
Product: Segment Analysis
Based on product, the dry food segment is predicted to expand at a remarkable CAGR during the forecast period attributed to increase in the pet ownerships in China and the dry pet food are cost-effective, as per statista, the pet population in China has risen from 190 million in 2020 to 200 million in 2021.
Application: Segment Analysis
Based on application, the dog segment is expected to grow a significant CAGR during the forecast period. The increasing adoption of dogs, increasing ageing population, rising demand for premium dog food products, high population density, improvements in the living standards and growing number of nuclear families, are some of the important factors responsible for the growth of the segment. As per AskWonder, around 25% of the Chinese households owns at least one dog and 27,400,000 pet dogs are present throughout China.
China Pet Food Market by Product
China Pet Food Market by Application
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