What is the Chinese pet market?

The global pet market has exceeded 200 billion, with an overall growth rate of about 20%, of which pet food and pet supplies with obvious consumer goods attributes are the mainstay.

The scale of pet food is about 45 billion rmb, mainly including staple food and snacks, and health products. The majority of staple foods account for 80% of the penetration rate. Nestlé and Mars have a higher share. Pet food is also Nestlé’s fastest growing sector in 2019 (7.3%). Domestic brands have made rapid progress in the past five years, especially in e-commerce channels.

E-commerce has driven the development of the pet supplies industry. The high online penetration rate and growth rate have caused most of the pet product sales that occurred in offline pet stores to be transferred online.
Because e-commerce provides pet owners with almost everything they need:
● Convenient and comfortable;
● Provide product information and selection;
● Provide price comparison and clear value;
● Focus on customer relations.

Compared with developed countries, most pet owners in our country still feed the food eaten by pet people, and do not purchase commercial food. This part of users is a very large increment after being educated. New brands can seize this incremental growth opportunity .
In terms of pet supplies, old companies are engaged in OEM and ODM, and the products are mainly exported, mainly sold to the United States and Europe. New enterprises are selling domestically, and export to domestic sales is the trend, and domestic competition will intensify in the future.
Due to the rapid development of the domestic pet industry, “new enterprises” are sold under their own brands. Under the influence of the epidemic situation, the trend of leading enterprises exporting to domestic sales will be more obvious. In the future, the market will be replaced by new and old, and competition will be more intense.

With the increase of pet owners and the improvement of effective payment capacity, the pet supplies industry is still in a stage of rapid development. Although the pet market is developing rapidly, there is still a big gap between the proportion of pets per capita and the developed pet market. The proportion of pets per capita in developed coastal areas of China is about 15%, while the proportion of pets per capita in the United States is 70% As a result, the overall pet supplies market has grown rapidly and the concentration is low. Therefore, pet products still have obvious category ceilings in the past two years.
China’s pet market has developed relatively late, and there have not yet been large-scale offline business and supermarket channel brands like petsmart. Therefore, the transition from product brand to channel brand may be another new idea with Chinese characteristics.

What is the Chinese pet market? share nano news center

What is the Chinese pet market? share nano news center


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