1 in 4 Koreans in the 'Companion Population' Era
Retail Industry Also Focuses on Pet Industry...6 Trillion KRW Expected by 2027
Industry Diversifies from Pet Food to Pet Fashion and Services
As the so-called ‘Petfam-jok (Pet+Family)’ who treat pets like family members increase, the distribution industry is also turning its attention to the pet industry one after another. The intersection between the pet industry and the distribution industry is gradually expanding, ranging from pet food such as feed and snacks to fashion and luxury goods.
As the so-called ‘Petfam-jok (Pet+Family)’ who treat pets like family members increase, the distribution industry is also turning its attention to the pet industry one after another. The intersection between the pet industry and the distribution industry is gradually expanding, ranging from pet food such as feed and snacks to fashion and luxury goods.
According to KB Financial Group Management Research Institute on the 26th, the domestic pet ownership population was estimated to be 15 million as of 2021. This means that one out of every four people in Korea owns a pet. The number of pet households reached 6.04 million. In line with this trend, the pet industry is also growing in size every year. According to data from the Korea Rural Economic Institute, the market size related to pet products and services grew from 1.9 trillion won in 2015 to 3.4 trillion won in 2021, and is expected to grow to over 4 trillion won this year. It is expected to exceed 6 trillion won by 2027.
The increase in the pet population is also related to changes in the population structure, such as the low birthrate trend, the increase in single-person households, and aging. As the culture of ‘Pet Humanization,’ which treats pets like family members, spreads, the pet-related industry is naturally diversifying and becoming more premium.
The pet food industry has long been dominated by global pet food companies centered on pet feed. However, recently, domestic food companies have also entered the market one after another, leading to quantitative and qualitative growth. They judged that the growth potential of the pet food market is high due to the continuous increase in the pet population. Dongwon Group is increasing its market share by offering pet food, snacks, and supplies through Dongwon F&B’s pet food specialized brand ‘Nutri Plan’ and Dongwon Dear Food’s pet lifestyle brand ‘Arreureu.’
Pulmuone’s subsidiary Pulmuone Health & Living also operates the pet food brand ‘Amio,’ introducing functional products such as functional feed and snacks. Harim is also expanding investments related to pet food after launching ‘Harim Pet Food.’ KGC Ginseng Corporation is releasing pet food through Jeong Kwan Jang’s pet health specialized brand ‘Genie Pet.’
The ingredients and types are also becoming more diverse. Daewoong Pet, a pet healthcare specialized company, launched the snack brand ‘Anyworm’ using edible insects and introduced unique snacks made with mealworms. Products with ‘human grade’ certification, made only from raw materials that humans can consume based on food manufacturing technology, are also gaining attention.
The fashion industry is also continuously releasing pet clothing and accessories. LF’s representative casual brand Hazzys recently launched a new pet dog clothing line. It includes classic pique T-shirts, cable knits, and Oxford shirts. The iconic series, Hazzys’ bestseller, has been expanded into a pet dog clothing line, allowing owners and their dogs to create ‘similar looks.’ Save The Duck, an Italian vegan padding brand imported and sold by Shinsegae International, also attracted attention by launching a vegan padding line for pets at the end of last year. The pet dog innerwear released by the underwear brand BYC also received great interest from pet owners.
Luxury brands are no exception. They are actively targeting the pet population who invest generously in their pets by expanding pet lines that reflect their brand characteristics. MCM is offering accessory lines such as harnesses and leashes using its signature Visetos pattern. Gucci is continuously releasing pet collections. In addition to pet supplies, there are pet clothing, food bowls, and dedicated beds featuring Gucci’s signature patterns. Dior also sells leashes, harnesses, and carrier bags.
An industry insider said, “As the pet population and culture steadily expand, related industries are expected to diversify further in the future,” adding, “In addition to traditional industries such as feed and supplies, products and services for pets such as fashion, hotels, and various customized services are expected to pour out.”
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