宠物食品行业深度报告_宠物行业仍处高质量增长期_看好自有宠物食品品牌成长性_46页_3mb

Analysis and Summary of the Pet Food Industry 2025.08.08 Report

Key Findings:

1. Pet Industry Growth and Consumer Spending:

   • China's pet industry is currently in a high-quality growth phase, with significant potential for domestic pet food brands.
   • Pet consumption per animal has increased steadily: cat annual average per pet spending rose by 8% in 2024, while dog spending increased by 3%. This has driven the total pet market to reach 300.2 billion yuan in 2024 (CAGR 7.5% for 2018–2024). The food segment remains the largest, accounting for 53% of urban pet spending.

2. Pet Food Market Trends:

   • Market Scale: In 2024, the cat food market was 144.5 billion yuan (CAGR 10.7%), dog food was 155.7 billion yuan (CAGR 4.6%). Premium food categories are growing faster.
   • Production Technology: Extrusion (puffed food), baking, and air-drying technologies are evolving. Baking and shredded food show faster growth, while puffed food remains dominant in dogs but is widely used in cats.
   • Domestic Brands: Chinese brands like Kebao and Zhongchong are gaining market share (6% and 3% respectively by 2024). However, they still lag behind international players in some regions.

3. Pet Food Demand and Supply:

   • Demand: Rising demand for high-protein, fresh-ingredient foods driven by pet owners' preferences. Cats show higher demand for premium and functional foods (e.g., BARF-style diets).
   • Supply Chain: Online sales dominate (70%+), with e-commerce influencing product innovation. Pricing competition is intense, though premium products command higher prices.

4. Pet Food Risks and Opportunities:

   • Opportunities: Rising pet aging, increased scientific pet care, and unmet domestic needs create demand for therapeutic/pro老年food.
   • Risks: Price volatility in raw materials, increased competition, and food safety remain key concerns.

Summary:
The pet food industry continues to grow in China, driven by increased pet ownership and spending. Domestic brands are capturing more share amid technological advancements and changing consumer preferences. Online channels are accelerating competition, while premium and functional foods offer significant market potential. The adoption of new feeding technologies, such as baking and shredding, is reshaping the market landscape. However, rising competition and cost pressures demand strategic adaptation by firms.

Industry Overview (Pet Numbers & Spending):

• Cat numbers are growing steadily (post-COVID, +0.5% YoY for 2024), while dogs are declining slightly (+1.6%). Cat meat consumption is increasing faster.
• Per-pet spending has risen for both cats (+8% YoY) and dogs (+3% YoY), contributing to market growth.
• Eighty percent of urban Chinese households own pets by 2024, with cats outnumbering dogs due to lifestyle and living space factors.

Main Food Segment:

• Market Share: Food is the largest category (53% in 2024), followed by healthcare (28%).
• Premium Growth: Premium dog food is on the rise, but cat food high-end penetration is lower. Technology innovation is key in overcoming feeding challenges.

Pet Food Supply:

• Process Innovation: Extrusion, baking, and shredding technologies are advancing with increasing freshness and nutritional properties.
• Demand Trends: Rising interest in BARF-style foods, functional nutrition, and therapeutic diets.

Pet Food Risks & Opportunities:

• Risks: Fluctuating raw material prices, increased competition, and food safety issues.
• Opportunities: Growing pet aging, increased scientific feeding practices.