The pet food market in China reached US$1.3 billion in sales in 2015, representing 12% year-over-year growth. Research firm GfK is projecting the market to increase another 13% in 2016, hitting US$1.5 billion by the end of the year.
Driven by rising incomes and rates of pet ownership, along with increasing premiumization—the average price of dry pet food in China is over US$5 per kilo, GfK says—this robust growth makes the Chinese pet food market ripe for innovation. Chinese pet specialty retailers are already seeing natural pet food account for 24% of shelf space and 19% of sales, with grain-free products also starting to show up at 9% and 2%, respectively.
Petfood Forum China 2016 will feature industry experts sharing their latest research and insights on pet food innovation. Scheduled for August 17 at the World Expo Exhibition and Convention Center in Shanghai, the fifth edition of this exclusive conference will again be co-located with Pet Fair Asia, one of the largest pet trade shows in China (www.petfairasia.com/en). Pet Fair Asia takes place August 18-21.
In addition to conference session learning, pet food professionals in China and other markets can benefit from networking opportunities at Petfood Forum China, including with leading industry supplier companies.
As of press time, Petfood Forum China 2016 sessions were being planned to address:
- New Chinese pet food regulations, presented by an official with the Quality and Safety Standards of Pet Food (Feed) Project, Ministry of Agriculture;
- An insider’s view of the Chinese pet food market and its future;
- New research into how pet food formats (dry, wet, etc.) may affect specific markers of pet health;
- Case studies on developing formulations, processing profiles and ensuring food safety for newer pet food categories such as ultra-high fresh meat, grain-free and limited ingredient diets;
- The benefits to pets and pet food companies of using plant- and algae-based ingredients;
- A look at how differences in culture might impact creativity and business strategy;
- And other topics.
Find the full Petfood Forum China 2016 schedule, plus up-to-date topics and speakers, at https://goo.gl/G5fMuz.
