South Korea Pet Food Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.22 Billion |
| Market Size (2029) | USD 1.83 Billion |
| CAGR (2024 - 2029) | 8.38 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
South Korea Pet Food Market Analysis
The South Korea Pet Food Market size is estimated at USD 1.22 billion in 2024, and is expected to reach USD 1.83 billion by 2029, growing at a CAGR of 8.38% during the forecast period (2024-2029).
- The South Korean pet food market is characterized by a growing preference for premium brands offering diverse, high-quality ingredients. This trend reflects the increasing demand among South Korean consumers for nutrient-rich pet food options.
- According to the United States Department of Agriculture's Foreign Agricultural Service, the cat population in South Korea has grown by 4% from 2019 to 2023, surpassing the growth of other pet animals. Consequently, wet cat food, treats, and mixes are anticipated to see strong growth rates. Concurrently, the dog food segment continues to expand its market share, aligning with the overall increase in pet ownership and demand for high-quality pet nutrition in the country.
- The trend of pet humanization is driven by changing societal attitudes towards animals. This shift further propels the market as consumers increasingly opt for specialized or commercial pet foods. Additional market drivers include the growing elderly and single populations, who often choose pets for companionship and security. Rising disposable incomes and increased acceptance of pets in restaurants and apartments also contribute to market growth.
- Government regulations have played a significant role in this market expansion. The pet industry is one of five key areas identified for economic revival in South Korea. In recent years, pet culture has undergone extensive changes. According to industry sources, the South Korean pet business authority developed a five-year plan in early 2020 to improve animal welfare and pet ownership. Hence, such initiatives are projected to further strengthen the regional pet industry.
South Korea Pet Food Market Trends
Increasing pet population and consumer expenditure on premium pet food
Pet humanization is gaining global acceptance in the pet industry as more pet owners seek human-like products and experiences for their animals. In South Korea, rapid urbanization and lifestyle changes have sparked renewed interest in pets, particularly cats and dogs.
According to the Korea Times, 6.41 million households owned pets in 2023, with one in four South Korean adults being pet owners. The number of households with cats and dogs is increasing. A survey by the Korea Pet Food Association revealed that dog owners spend an average of USD 232 annually on pet food and USD 156 on pet snacks. Dog and cat food comprise 99% of pet food sales in Korea.
The growing focus on pet food and care has led to increased pet food expenditure and product diversification. While low-priced pet food remains dominant, premium pet food sales have risen significantly as more owners consider their pets as family members. Consequently, the pet treats category is experiencing substantial growth. Businesses are capitalizing on this trend by introducing high-end pet food and treats made from natural, protein-rich ingredients without artificial colors, flavors, or preservatives. Product development in pet food and treats has also resulted in a diverse range of offerings, including pet probiotics and mealworm-based products.
Increasing Import of Pet Food
Imports constitute over 70% of South Korea's pet food market, as reported by the United States Department of Agriculture (USDA). China leads as the primary supplier with a 30% market share, followed by the United States at 21% and Thailand at 13%. However, 2023 saw a decrease in pet food imports, primarily due to the strengthening of domestic pet food manufacturers producing high-quality products that resonate with consumers.
The premium pet food segment is experiencing the fastest growth in the country. While imported products dominate the market, many Korean companies have recently entered the pet food industry, launching high-quality, competitively priced products to challenge imported brands.
In previous years, imported pet food held a significant market share in South Korea. Pet food producers from Europe and Southern Asia are increasingly challenging the leadership of US and Chinese brands, which currently hold the top positions by volume and value, respectively. China dominates the snack market due to its proximity, while the US, European countries, and Canada benefit from duty-free status and maintain a larger share of the pet food market.
According to a survey by the Korea Pet Food Association, variety and nutritional benefits are the primary factors influencing pet owners' choice of imported pet food. Consumers' low price sensitivity and high brand loyalty towards imported products provide international companies with opportunities to expand their market presence.
South Korea Pet Food Industry Overview
The South Korean pet food market is consolidated, with the top players holding a significant share. Mars Incorporated, LG Unicharm, ANF by Texas Farm Products Co. Inc., CJ CheilJedang Corp., and Nestle Purina SA are the prominent companies in the market. The major players focus on product launches and acquisitions to strengthen their foothold in the market.
South Korea Pet Food Market Leaders
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Mars, Incorporated
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LG UNICHARM
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ANF
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CJ CheilJedang Corp.
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Nestle purina
*Disclaimer: Major Players sorted in no particular order
South Korea Pet Food Market News
- June 2024: Kormotech, Ukraine's leading pet food manufacturer, has expanded into the South Korean market. The company has introduced its super-premium dog and cat food brand Optimeal and premium brand Club 4 Paws, making them available on specialized online platforms in South Korea.
- November 2022: Mars Petcare signed an agreement to acquire Champion Petfood, a global pet food brand with a significant presence in South Korea. Champion Pet Food was a trusted brand in the premium and natural pet food category and saw a lot of consumer footfall. This acquisition aims to integrate Champion Pet Food's expertise in this field country's and Mars's brand loyalty.
- January 2022: Dongwon F&B partnered with Bmsmile, a domestic pet product brand operator, to develop functional moist pet food packed in sealed pouches and cans. The partnership would also help the company expand its presence in South Korea.
South Korea Pet Food Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Pet Ownership and Humanization of Pets
4.2.2 Increased Demand for Premium and Health-Oriented Pet Food
4.2.3 Expansion of E-commerce and Online Pet Care Platforms
4.3 Market Restraints
4.3.1 High Import Dependency and Supply Chain Challenges
4.3.2 Regulatory and Compliance Constraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Pet Type
5.1.1 Dogs
5.1.2 Cats
5.1.3 Other Pet Types
5.2 Product Type
5.2.1 Dry Pet Foods
5.2.2 Wet Pet Foods
5.2.3 Veterinary Diets
5.2.4 Treats and Snacks
5.2.5 Other Product Types
5.3 Distribution Channel
5.3.1 Supermarkets/Hypermarkets
5.3.2 Specialty Stores
5.3.3 Online Channels
5.3.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Mars Inc.
6.3.2 Nestle SA (Purina)
6.3.3 LG Unicharm
6.3.4 ANF
6.3.5 CJ CheilJedang Corp.
6.3.6 Colgate-Palmolive
6.3.7 Cargill Inc.
6.3.8 (Clearlake Capital) WellPet
6.3.9 Diamond Pet Foods
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
South Korea Pet Food Industry Segmentation
Pet food includes pet food, like cats, dogs, birds, and other animals, typically sold in supermarkets, pet stores, etc. South Korea Pet Food Market is Segmented by Pet Type (Dogs, Cats, and Other Pet Types), Product Type (Dry Pet Foods, Wet Pet Foods, Veterinary Diets, Treats and Snacks, and Other Product Types), and Distribution Channel (Specialty Stores, Supermarkets/Hypermarkets, Online Channels, and Other Distribution Channels). The report offers market size and forecasts in terms of Value (USD) and Volume (Metric Tons) for all the above segments.
| Pet Type | |
| Dogs | |
| Cats | |
| Other Pet Types |
| 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 |
South Korea Pet Food Market Research Faqs
How big is the South Korea Pet Food Market?
The South Korea Pet Food Market size is expected to reach USD 1.22 billion in 2024 and grow at a CAGR of 8.38% to reach USD 1.83 billion by 2029.
What is the current South Korea Pet Food Market size?
In 2024, the South Korea Pet Food Market size is expected to reach USD 1.22 billion.
Who are the key players in South Korea Pet Food Market?
Mars, Incorporated, LG UNICHARM, ANF, CJ CheilJedang Corp. and Nestle purina are the major companies operating in the South Korea Pet Food Market.
What years does this South Korea Pet Food Market cover, and what was the market size in 2023?
In 2023, the South Korea Pet Food Market size was estimated at USD 1.12 billion. The report covers the South Korea Pet Food Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South Korea Pet Food Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South Korea Pet Food Industry Report
Statistics for the 2024 South Korea Pet Food market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Korea Pet Food analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
