Pet Economy in China
The number of pet owners in China has kept growing in recent years, contributing to the surge of the pet economy in China. In the pet food market, the staple food sector is dominated by big imported brands, so most new entrants choose to explore the pet snack sector where the competition is less severe. As for the pet care sector, consumers tend to trust products released by well-known personal care/ skincare/ beauty brands, but some emerging brands still achieve good sales by focusing on niche categories.