"Following K-Beauty and Food, a 60 Trillion Won Goldmine: Spotlight on the Growing Chinese Pet Market"

KOTRA Analyzes Growth and Entry Strategies for the Chinese Pet Market
Rising Single-Person Households and Aging Population Drive Greater Recognition of Pets
Case Studies Presented by Sector: Food, Supplies, Services, and Medical Care

Recently, there has been analysis suggesting that the rapidly growing Chinese pet market, driven by changes in population and income structure, is emerging as a new consumer goods niche market following K-beauty and food. China, with its 1.4 billion population, is estimated to have a pet-related market size exceeding 60 trillion won.

The report "Growth of the Chinese Pet-Related Market and Entry Strategies for Korean Companies," released by KOTRA on January 27, provides detailed information by sector for companies hoping to enter the Chinese pet supplies market.

According to the report, the Chinese pet-related market is experiencing a surge in demand for products, technologies, and services due to several factors: the increase in single-person households and aging population in China, rising income levels, and the growing perception of pets as family members.

According to Petdata, a big data platform for the Chinese pet industry, as of 2024, the size of China's pet-related market is 300 billion yuan (approximately 62 trillion won). By sector, the pet food market is 158.5 billion yuan (33 trillion won), various pet supplies account for 37.2 billion yuan (7.7 trillion won), veterinary care is 84 billion yuan (17 trillion won), and services make up 20.4 billion yuan (about 4.2 trillion won). All four sub-sectors have grown by more than 5% year-on-year, demonstrating strong growth potential. The pet market is projected to reach 404.2 billion yuan (84 trillion won) by 2027, an increase of more than 30% from the current level.

The spread of a culture that regards pets as family (pet humanization) is also leading to clear trends of premiumization and segmentation in the market. There is a growing range of products that provide not only health benefits but also emotional (enjoyment) and convenience factors for pets, and products or services originally intended for humans are increasingly being adapted for pets. Pet furniture, health and functional pet foods, pet healthcare platforms, and pet tech products that incorporate artificial intelligence (AI) and digital technology, as well as pet entertainment products designed with pet emotions in mind, are attracting significant attention.

The report covers in detail the market and competition trends, licensing and customs clearance systems, and other aspects for each sub-sector of the pet market (food, supplies, services, healthcare). It also provides information necessary for export marketing, such as promising items by sector, entry strategies and case studies, as well as information on exhibitions and collaborative organizations.

Hwang Jaewon, Head of KOTRA's China Regional Headquarters, stated, "The already massive Chinese pet market is expanding further due to demographic and income structure changes. With the growing recognition of pets, products that incorporate not only health but also functionality, emotional (enjoyment), and digital technology are gaining attention. We will actively support Korean companies to seize new opportunities between high-priced imports and low-priced Chinese products."