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.
Pet owners want a lot from their pet food brands. They want primary proteins that suit what they believe is best for their animal. They want grains or they don't. They want something customized, but it has to be easy to understand.
Constraints and crises, like those experienced in 2020, help drive innovation and sustainability offers context.