< Key Hightlight >

MARKET OUTLOOK

According to Triton’s estimates, the pet food market in China is expected to display an upward trend and is estimated to progress in value and volume at a compound annual growth rate of 16.85% and 14.59%, respectively, over the projected period 2022-2026. 

In recent years, pet parents have increased their spending in China. The country’s pet industry is booming with double-digit growth figures. However, the industry is still at its nascent stage, showcasing the potential for higher growth in pet ownership. Additionally, China leads the APAC region in terms of pet ownership, witnessing high spending on pet food. This growth is expected to grow tremendously over the forecast period. 

Furthermore, the major geographical location for pet food production is on the East Coast of China. This is mainly owing to the proximity to raw materials, enabling companies to operate conveniently and efficiently. The top ingredients used for dog food production include beef, grains, and chicken. In this regard, geographical location plays a major role in the production processes. For instance, a large supply of corn and wheat in Beijing and Hebei province makes the production of dry food convenient. Hence, all these factors are widening the scope of the pet food market within China. 

COMPETITIVE OUTLOOK 

Mars Incorporated, Nestle SA, Bridge PetCare Co Ltd, and CrazyDog are some of the key companies in the pet food market.