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South Korea Pet Food Market Size (2024 - 2029)

The South Korea pet food market is experiencing growth driven by trends such as pet humanization and an increasing preference for specialized foods. Factors like a rising elderly and single population, higher disposable incomes, and societal acceptance of pets in various settings are contributing to the market's expansion. Governmental regulations and initiatives aimed at enhancing animal welfare and pet ownership are further bolstering the industry. The premium pet food segment is particularly notable, as consumers are increasingly willing to invest in high-quality products for their pets.

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Market Size of South Korea Pet Food Industry

South Korea Pet Food Market Summary
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

South Korea Pet Food Market 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 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
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South Korea Pet Food Market Size Summary

The South Korean pet food market is experiencing significant growth, driven by trends such as pet humanization and increasing pet ownership among the elderly and single populations. As societal attitudes shift, consumers are increasingly opting for specialized and premium pet foods, reflecting a willingness to invest in high-quality products that enhance their pets' health and longevity. The market is further bolstered by rising disposable incomes and the growing acceptance of pets in urban settings, such as restaurants and apartments. Governmental support and strategic initiatives aimed at improving animal welfare and pet ownership have also played a crucial role in revitalizing the pet industry, positioning it as a key sector for economic growth.

The market is characterized by a strong demand for premium pet food products, with imports accounting for a significant portion of the market share. The United States and China are the leading suppliers, although European and Southern Asian producers are increasingly competitive. The preference for imported pet food is driven by its variety and nutritional benefits, with consumers showing low price sensitivity and high brand loyalty. The market is consolidated, with major players like Mars Incorporated, LG Unicharm, and Nestle Purina SA dominating through strategic acquisitions and product launches. These companies are focusing on expanding their offerings to include high-quality, natural ingredients and innovative products, such as probiotics and mealworm-based goods, to meet the evolving preferences of South Korean pet owners.

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South Korea Pet Food Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Growing Pet Ownership and Humanization of Pets

      2. 1.2.2 Increased Demand for Premium and Health-Oriented Pet Food

      3. 1.2.3 Expansion of E-commerce and Online Pet Care Platforms

    3. 1.3 Market Restraints

      1. 1.3.1 High Import Dependency and Supply Chain Challenges

      2. 1.3.2 Regulatory and Compliance Constraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Pet Type

      1. 2.1.1 Dogs

      2. 2.1.2 Cats

      3. 2.1.3 Other Pet Types

    2. 2.2 Product Type

      1. 2.2.1 Dry Pet Foods

      2. 2.2.2 Wet Pet Foods

      3. 2.2.3 Veterinary Diets

      4. 2.2.4 Treats and Snacks

      5. 2.2.5 Other Product Types

    3. 2.3 Distribution Channel

      1. 2.3.1 Supermarkets/Hypermarkets

      2. 2.3.2 Specialty Stores

      3. 2.3.3 Online Channels

      4. 2.3.4 Other Distribution Channels

South Korea Pet Food Market Size FAQs

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.

In 2024, the South Korea Pet Food Market size is expected to reach USD 1.22 billion.

South Korea Pet Food Market Report Snapshots

South Korea Pet Food Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)