Tmall Supermarket, an online food platform, has announced that ist pet food sales increased by 50% 2 years before Chinese New Year on 22 January 2023. High-quality pet food and treats have been very popular bevor New Year’s Eve.
Pursuant to the company, the sales of pet clothes have also risen by 60% one week before New Year. During the Singles’ Day Festival on 11 November 2022 the pet segment has already experienced a 40% increase in revenue.
According to Alibaba, regarding the period from 2016 to 2021the turnover for imported pet food has increased from from less than $100 million to $1 billion in China.
According to a white paper by C2 Capital Partners, premium commcercial pet food has become more popular since Chinese have started to pay more attention on food that supports health and welfare of their pets. Furthermore, the paper has shown an extreme progress across the pet food sector and assumes the growth is caused by increased pet adoption.
Around 60% are female pet parents and 45% are in the beginnig thirties. “For this group of [young] consumers, pets are playing an important emotional role as extended family members,” the paper says. Most pet parents come from middle-class households between RMB4,000 (€549) and RMB20,000 (€2,743).