South Korea Pet Food Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The South Korea Pet Food Market is segmented by Animal Type (Dogs, Cats, and Other Animal Types), Product Type (Dry Pet Food, Wet Pet Food, Veterinary Diets, Treats and Snacks, and Other Product Types), and Distribution Channel (Specialty Stores, Supermarkets/Hypermarkets, Online Channels, and Other Distribution Channels).

Market Snapshot

South Korea Pet Food
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 8.9 %

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Market Overview

The South Korean pet food market is projected to register a CAGR of 8.9% during the forecast period (2021-2026). The COVID-19 pandemic resulted in supply chain disruptions across the world, which led to low exports and imports of pet food. Online pet food sales increased as consumers are forced to consolidate their shopping trips due to lockdown restrictions. The societal change toward animals is fostering the trend of pet humanization. These factors are driving the market higher, as consumers now prefer specialized or commercial foods. The other important driver for the market is the increase in the elderly and single populations who usually prefer pets for companionship and security. The increase in disposable incomes and the societal acceptance of pets in restaurants and apartments are the other important drivers for the market. The increasing import of pet food from other countries is also driving the market growth. Mars Incorporated, LG UNICHARM. ANF by Texas Farm Products Co. Inc., CJ CheilJedang Corp., and Nestle Purina SA are some of the leading companies in the studied market.

Scope of the Report

Pet food has been gaining enormous popularity in the country, particularly with the advent of different varieties of food available for pet animals. The market operates in the B2C model, and market sizing has been carried out at the consumer level. The South Korean pet food market is segmented by animal type (dogs, cats, and other animal types), product type (dry pet food, wet pet food, veterinary diets, treats and snacks, and other product types), and distribution channel (specialty stores, supermarkets/hypermarkets, online channels, and other distribution channels).

Pet Type
Dog
Cat
Other Animals
Product Type
Dry Pet Foods
Wet Pet Foods
Veterinary Diets
Treats and Snacks
Other Product Types
Distribution Channel
Supermarkets/Hypermarkets
Specialty Stores
Online Channels
Other Distribution Channels

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Key Market Trends

Changing Attitude Toward Pets

Rapid urbanization and changing lifestyles have brought about a renewed interest in pets, especially cats and dogs, in the country. People are increasingly paying attention to pet food and pet care, which led to the increasing pet food spending and product differentiation in the market. According to the Korea Pet Food Association, in 2016, the dog and cat populations were 4.2 million and 1.6 million, respectively, which increased to 5.9 million and 2.4 million by 2019. It is observed that many consumers in the country consult with a specialist at specialty stores or vets about what type of pet food to buy for pets, which indicates the growing health concern over pets and preference for quality food products. 

pet dogs in South Korea

Increasing Import of Pet Food

The growing pet humanization trend and shift in the way pets are being viewed have led to concern over the quality of the food given to the pets. According to the Korea ITC Trade, in 2020, the United States was the largest exporter of pet food to Korea by volume, while China is the largest exporter by value. The United States supplied 22.5% of Korea’s dog and cat food products, amounting to 17,560.0 metric ton, followed by Thailand, amounting to 8,755 metric ton. Consumers have strong brand loyalty toward the US food brands. Nevertheless, the United States is facing increasing competition from other exporters, such as China, Thailand, and Canada. Pet food imports from China increased by 83.0% by 2018.

South Korea Pet Food Market

Competitive Landscape

The South Korean pet food market is consolidated, with the top players occupying a major share in the market. The competition in the market is driven by consumer loyalty. Mars Incorporated, LG UNICHARM. ANF by Texas Farm Products Co. Inc., CJ CheilJedang Corp., and Nestle Purina SA are some of the leading companies in the market. These players are using product launches and mergers and acquisitions as their market strategies to strengthen their position in the market.

Recent Developments

In July 2018, ANF launched a product, Organic 95, a completely organic meal containing organic boneless protein and 5% of essential nutrients. It helps in the muscle development of dogs.

In June 2018, ANF launched '6 free' as dog food. The product is called '6 free' because genetic-modified substances, chemical preservatives, insecticides, hormones, and synthetic coloring agents are not used in the product. The product helps in providing good nutrition and promoting dog health.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Pet Type

      1. 5.1.1 Dog

      2. 5.1.2 Cat

      3. 5.1.3 Other Animals

    2. 5.2 Product Type

      1. 5.2.1 Dry Pet Foods

      2. 5.2.2 Wet Pet Foods

      3. 5.2.3 Veterinary Diets

      4. 5.2.4 Treats and Snacks

      5. 5.2.5 Other Product Types

    3. 5.3 Distribution Channel

      1. 5.3.1 Supermarkets/Hypermarkets

      2. 5.3.2 Specialty Stores

      3. 5.3.3 Online Channels

      4. 5.3.4 Other Distribution Channels

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Mars Inc.

      2. 6.3.2 Nestle SA (Purina)

      3. 6.3.3 LG UNICHARM

      4. 6.3.4 ANF

      5. 6.3.5 CJ CheilJedang Corp.

      6. 6.3.6 Hill's Pet Nutrition Inc.

      7. 6.3.7 Cargill Inc.

      8. 6.3.8 Wellpet

      9. 6.3.9 Diamond Pet Foods

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. AN ASSESSMENT OF THE COVID-19 IMPACT ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The South Korea Pet Food Market market is studied from 2016 - 2026.

The South Korea Pet Food Market is growing at a CAGR of 8.9% over the next 5 years.

Mars, Incorporated, LG UNICHARM, ANF, CJ CheilJedang Corp. , NESTLE SA are the major companies operating in South Korea Pet Food Market.

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