ResearchMoz offers report on China's petfood market competition
Report says Chinese market scale increasing by more than 15 percent annually
ResearchMoz now offers a report on China's petfood market competition, available for purchase online.
The report provides an explanation of how petfood maker Mars entered the Chinese petfood market in 1993 with its Pedigree dog food and Whiskas cat food brands. In March 2001, Chengdu Care-Pet Food Co. Ltd., a subsidiary of Tongwei Group, was established; the production of its first bag of petfood signified that China's local petfood brand entered into the petfood industry. Since then, the report says China's petfood industry has grown and completed upgrading for larger-scale production.
The report says sales revenue in the Chinese petfood market has exceeded 1.5 billion Yuan (US$244.7 million), and market scale is increasing by more than 15 percent on average each year, which is far above the global average growth rate of 4 percent.