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The Chinese pet food market is projected to register a CAGR of 3.8%, during the forecast period (2021-2026

ReportLinker
·4-min read

). The COVID-19 pandemic has had far-reaching implications within the pet food supply chain. Although there has been a lot done to guarantee the stability and continuity of supply at points of sales, there have been new costs and obstacles to deal with.

New York, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "China Pet Food Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06020203/?utm_source=GNW
These new costs are due to many factors, including the lack of efficiency resulting from the necessary social distancing in production units, increases in logistical costs due to trucks returning empty to their base, additional safety measures, and delays.

Dogs have always been the preferred pets globally and account for a large chunk of the Chinese pet food revenue. China ranks third in terms of dog ownership, with more than 27 million dogs as pets in 2018. Cats and birds were the next category of pets, which accounted for significant revenue shares. Pet owners are picky, not only about food but also about sales channels.

Wet pet food in the product segment is estimated to witness the fastest growth, growing with a CAGR of 4.0% during the forecast period. Pet humanization, the increasing trend of e-commerce, and the rise in the demand for natural pet food are some of the major factors driving the market for wet pet food in the country.

Pet owners are preferring online shopping due to the convenience it provides in the busy lifestyles of consumers. Increasing pet humanization, rise in the demand for natural pet food are some of the drivers which are boosting the sale of pet food in the country.

Key Market Trends
Growing Trend of Pet Humanization

The growth in the middle-class section, rapidly growing urbanization, growing numbers of elderly, and people getting married and having children later than before are factors transforming China into a pet-owning and -loving society. Pet humanization is on the rise in China, owing to the changes in people’s lifestyles. The increasing pet ownership among younger generations, in particular, is influenced by social media and the adaptation to the western lifestyle. These factors are driving the pet food market in the country. Hence, an increasing number of people in the country are treating pets more as members of the family.

According to the National Bureau of Statistics of China (NBS China), most people who have pet dogs or cats in China are the elderly. Approximately 61% of the 65+ age group live with a pet. The aging population look toward small, easy-to-care-for pets instead of proper babysitting commitments. The urbanization trend in the country has a greater influence on sales of prepared pet foods, as these products are more convenient and are more suitable for the busy lifestyles of urban dwellers. With the increasing aging population and declining birth rates, the Chinese population is owning pets to find spiritual sustenance.

Dog Segment is the Fastest Growing Segment

Dogs are the most popular pets grown in China with 9% of the country’s urban population has owned a dog as their pet, followed by cat and fish respectively. According to the State Council of China, around 73.55 million households own a pet, of which 46.1% own dogs and 30.7% have cats. Increasing pet adoption is also a major reason for the increasing pet dog population. In the total pet population, dogs account for 34% and cats account for 20% in 2019. The increasing adoption of dogs by the millennials as an asset has boosted pet food sales over the recent period. The popular dog breeds in China include Pekingese, Shih Tzu, Pug, Shar Pei, Chow Chow, and Tibetan Terrier.

The freeze-dried segment of dog food is also emerging from widening awareness of its nutritional benefits and popularity with dogs. With the improved consumer awareness about food for specific nutritional and healthcare needs of dogs, the leading players are introducing new innovative products in China. Royal Canin released its first sub-health pet nutrition products during the Pet Fair Asia 2019 in Shanghai. The Royal Canin’s product, the first of its kind in the Chinese market, is said to contain nutritional components that support digestive health and improve the dog’s coat, among other effects.

Competitive Landscape
The Chinese pet food market is highly consolidated with the presence of multinational companies, such as Mars, Nestle, and Royal Canin, while local companies, such as Bridge Pet Care and Ronsy Pet Food Co. Ltd account for minor shares in the market. The companies in the Chinese pet food market are highly active and are adopting strategies, such as investment in e-marketing and e-commerce websites, mergers and acquisitions, and new product launches, in order to increase their market share in the country.

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Read the full report: https://www.reportlinker.com/p06020203/?utm_source=GNW

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