Understanding China’s Pet Food Market: An Infographic
China is undeniably a growing market for many foreign investors and they are setting their sights on her. One of the industries that is growing rapidly in China is pet industry. It presents a big opportunity for pet food and pet care companies. The demand alone for pet food in this country has netted US$ 926 million in 2019 according to statista. Here are some fast facts about the Chinese Pet Food Market.
CHINA’S PET FOOD MARKET
Pet population is growing in China because pet owners are growing, too. Most pet owners (and their pets) are concentrated on the east coast, according to petfairasia.com. Why the concentration on the east coast? Because the provinces and cities in China are close to nature making it conducive to raise all sorts of pets and animals, like dogs, cats, birds, even fish.
2. Show Me Your Pet! 91 million plus pet owners. 80 million plus own dogs. 10 million plus own cats.
3. Pet Ownership
4. Pet Owners by Pet Type
Note: Poll takers can pick more than one.
7. China’s Pet Market Standing
Growth potential is definitely huge as the number of pets owned is only at 0.065 per person compared to 0.057 per person in the US.
8. Top 5 Players in China Pet Food Market
10. Projected Growth
The Chinese pet food market was valued at USD 2.11 billion in 2018 and is expected to register a CAGR of 9.7%, during the forecast period (2019-2024).Looking for a new partner to help you explore new markets?
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