As scientific pet feeding is becoming more mature, feeding pets with professional commercial pet food is becoming more popular among Chinese pet owners, who fed their pets with leftovers once. In addition, the increased consumption of the main food, snacks, health products, and other high-added value food is expected to enhance the penetration rate in whole pet food consumption. Due to the optimization of the consumption structure in the pet food industry, the overall unit price of pet food increased, leading to higher profits. Since the volume and profit of the pet food industry have increased, the industry market size will maintain growth.
From the perspective of technology development trends, with the entry of international enterprises and strong domestic players, intensive competition will drive innovation and R&D on pet food production, which is also a good chance for Chinese companies’ growth. From the perspective of product structure development trends, the market size of the middle and high-end pet food industry will further expand; the proportion of pet snacks and pet health products will continue to increase, and the proportion of cat food will increase obviously since there are more cat owners than dog owners. From the perspective of market competition trends, in the next few years, foreign and Sino-foreign joint ventures will still be the leading market players in China’s pet food industry. Still, the market share of domestic brands is expected to increase.
