Petfood Industry - April 2018 - 33
www.PetfoodIndustry.com | 33
The company's philosophy,
however, is one thing that
won't change. "What we
strive to be known for is, first,
our mission: 'Respect all life,
embrace them with love,'"
says Huang. "And second, our
guiding principles of products: Do customers feel our
products worth the money or
worth more than that? Are
they feeling touched or pleasantly surprised?" With their
sales rising each year and their
fingers firmly on the pulse of
e-commerce and its related
challenges, the answer would
seem to be, "yes." ■
The present and future of China's
pet food industry
➥China's pet industry is currently in a period of rapid development after nearly
20 years of gradual development, maintaining an average annual growth of 32.8
percent in the past decade, says Navarch Pet Products International Business Director
According to statistics, the market size of China's pet industry was:
* 2014: RMB71.9 billion (US$1.14 billion)
* 2015: RMB97.8 billion (US$1.55 billion)
* 2016: exceeded RMB100 billion (US$1.58 billion)
* 2020: expected to exceed RMB200 billion (US$3.16 billion)
In the pet care market, the pet food category accounts for the largest market share at
38.35 percent, according to Huang, with pet medical coming in at 25.91 percent, pet
supplies at 23.69 percent, other services accounting for 8.34 percent of the market,
and live pet sales coming in at 3.7 percent market share.
"The pet industry will continue to grow rapidly," says Huang. "Pet medical and pet
care services will have further development."
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