China is ranked among the top three countries with the most cats and dogs, although the rate of families raising pets is only 6%. As the popularity of owning pets increases, the pet food market in China continues to perform strongly and recorded totaling 70 billion RMB by the end of 2019, keeping a double-digit growth rate every year.
Chinese young people under 30 are the driving force behind this booming market. As the most digitally savvy shoppers in the world, they look to provide their pets with the very best, and imported goods on cross-border e-commerce platforms are a good option.
Moreover, CR 10 is less than 40% in China pet food sector. With a low concentration rate and significant runway for growth, there are open opportunities for companies looking to set up or expand the pet food business in China.
Background
Speaker
Chris Wang
Ms. Chris Wang mainly focuses on China’s consumer products. With over 7 years in the industry, She has a broad knowledge of Chinese food and cosmetic regulatory and market insights as well as extensive experience in helping international companies to wisely develop their own market entry strategies to China.
Contents
In this webinar, we will lead to the latest overview of the Chinese pet food market situation and mainly explore the following issues:
-What’s driving the pet economy in China?
-Who’s more popular: Local vs. Global?
-Growing market opportunities: segments
-Import guidance
