Pet Food Market- South Korea

Market Statistics

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:

Pet Food Market Growth in South Korea

Key Factors Driving Market Growth

1. Increasing Pet Humanization:

   1. Pets are increasingly being treated as integral family members.

   2. This trend is driving the growth of the pet food market.

2. Rising Demand for Organic, Natural, and Grain-Free Pet Food:

   1. Pet parents are focusing on their pets' specific health requirements.

   2. The demand is growing for foods that address issues like allergies, digestive health, and weight management.

   3. This shift is boosting the sales of premium products that provide essential nutrition and promote overall well-being.

3. Preference for Pet Food Mimicking Human Food:

   1. There is a growing preference for pet food that mirrors human food in ingredients and presentation.

   2. This preference is encouraging the development of premium products.

   3. These trends offer lucrative growth opportunities for industry investors.

4. Demand for Products with Extended Shelf Life:

   1. Pet parents are seeking products that offer extended shelf life without compromising quality.

   2. These products help maintain a consistent diet for pets.

5. Growth in Durable, High-Quality, and Convenience-Oriented Pet Food:

   1. The demand for durable, high-quality products is on the rise.

   2. Convenience-oriented formats like ready-to-serve meals and single-serving packages are gaining popularity.

   3. These trends are further strengthening market growth.

Influence of Imported Pet Food and Personalization

1. Growing Demand for Imported Pet Food:

   1. Imported pet food products are in demand due to their quality, variety, and perceived nutritional benefits.

   2. This demand is positively influencing the market.

2. Increasing Demand for Personalized Pet Food:

   1. Pet parents are seeking personalized products to cater to the unique preferences and health needs of their pets.

   2. The rising reliance on e-commerce platforms, which offer a wide variety of options, is stimulating market growth.

Focus on Sustainability and Innovation

1. Rising Preference for Ethically Sourced Ingredients and Sustainable Packaging:

   1. There is a growing awareness of environmental issues among consumers.

   2. This preference is driving demand for pet food products that align with sustainable values.

2. Manufacturers' Investment in Research and Development (R&D):

   1. Companies are investing in R&D to produce advanced, high-quality pet food products.

   2. These efforts are offering a favorable market outlook in South Korea.

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:

1. Dogs

2. Cats

3. Others

Product Type Insights:

1. Dry Pet Foods

2. Wet Pet Foods

3. Veterinary Diets

4. Treats and Snacks

5. Others

Ingredient Type Insights:

1. Animal-Derived

2. Plant-Derived

3. Cereals and Cereal Derivatives

4. Others

Distribution Channel Insights:

1. Supermarkets and Hypermarkets

2. Specialty Stores

3. Online Channels

4. Others

Regional Insights:

1. Seoul Capital Area

2. Yeongnam (Southeastern Region)

3. Honam (Southwestern Region)

4. Hoseo (Central Region)

5. Others

Request for customization: https://www.imarcgroup.com/request?type=report&id=17721&flag=E

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

1. Cargill Incorporated

2. CJ CheilJedang Corporation

3. Hill's Pet Nutrition Inc. (Colgate-Palmolive Company)

4. Mars Incorporated

5. Nestlé S.A.

6. WellPet LLC

Key highlights of the Report:

1. Market Performance (2018-2023)

2. Market Outlook (2024-2032)

3. COVID-19 Impact on the Market

4. Porter’s Five Forces Analysis

5. Strategic Recommendations

6. Historical, Current and Future Market Trends

7. Market Drivers and Success Factors

8. SWOT Analysis

9. Structure of the Market

10. Value Chain Analysis

11. 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.

Contact Us:  

IMARC Group 

134 N 4th St. Brooklyn, NY 11249, USA 

Email: sales@imarcgroup.com 

Tel No:(D) +91 120 433 0800 

United States: +1-631-791-1145