South Korea Pet Food Market 2024 | Growth, Size, and Trends Forecast by 2032
South Korea Pet Food Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 8.7% (2024-2032)
The increasing pet humanization in South Korea is impelling the growth of the market as pet parents are treating their animals as integral family members. According to the latest report by IMARC Group, the South Korea pet food market size is projected to exhibit a growth rate (CAGR) of 8.7% during 2024-2032.
South Korea Pet Food Industry Trends and Drivers:
The increasing pet humanization in South Korea is impelling the growth of the market as pet parents are treating their animals as integral family members. The demand for organic, natural, and grain-free pet food is rising due to the focus of pet parents on the specific health requirements of their pets, opting for foods that address issues, such as allergies, digestive health, and weight management. This shift is increasing the sales of premium products that provide essential nutrition and cater to the overall well-being of pets.
The preference for pet food that mimics human food in ingredients and presentation is also encouraging premium product development, thereby offering lucrative growth opportunities to industry investors. Besides this, pet parents are preferring products that provide extended shelf life without compromising quality, making it easier to maintain a consistent diet for their pets. The demand for durable, high-quality products and convenience-oriented pet food formats, such as ready-to-serve meals and single-serving packages, is further strengthening the market growth.
Moreover, the growing demand for imported pet food products in the country on account of their quality, variety, and perceived nutritional benefits is positively influencing the market. Furthermore, the increasing demand for personalized pet food products to cater to the unique preferences and health needs of pets, coupled with the rising reliance on e-commerce platforms that offer a wide variety of options, is stimulating the market growth.
In addition, there is a rising preference for ethically sourced ingredients and sustainable packaging of pet food products, as people are becoming more environment conscious in the country. The transition towards sustainability is catalyzing the demand for products that align with these values, thereby supporting the market growth. Additionally, manufacturers are investing in research and development (R&D) activities to produce advanced and high-quality pet food products, which is offering a favorable market outlook in the country.
Download sample copy of the Report: https://www.imarcgroup.com/south-korea-pet-food-market/requestsample
South Korea Pet Food Industry Segmentation:
The report has segmented the market into the following categories:
Pet Type Insights:
- Dogs
- Cats
- Others
Product Type Insights:
- Dry Pet Foods
- Wet Pet Foods
- Veterinary Diets
- Treats and Snacks
- Others
Ingredient Type Insights:
- Animal-Derived
- Plant-Derived
- Cereals and Cereal Derivatives
- Others
Distribution Channel Insights:
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Channels
- Others
Regional Insights:
- Seoul Capital Area
- Yeongnam (Southeastern Region)
- Honam (Southwestern Region)
- Hoseo (Central Region)
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Cargill Incorporated
- CJ CheilJedang Corporation
- Hill's Pet Nutrition Inc. (Colgate-Palmolive Company)
- Mars Incorporated
- Nestlé S.A.
- WellPet LLC
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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