Other Pet Food in South Korea

PROSPECTS

Strong growth underpinned by rising demand for small mammal/reptile food

Small mammal/reptile food recorded the strongest performance of any category in other pet food in 2018 as the numbers of reptiles, mainly turtles and tortoises, being kept as pets continued to soar. The pet reptile population increased rapidly throughout the review period, with particularly strong growth seen during 2017 and 2018.

Online communities offer advice and assistance, making pet ownership easier

One factor spurring growth in South Korea’s other pet population is that people who are interested in keeping small mammals, reptiles, birds and fish as pets now have access to a wealth of information online. There are numerous Korean-language forums offering support, advice and information on how to look after other pets, some of which require a certain level of specialist knowledge to keep them in optimum condition.

Bird food slated for further sales increases over the forecast period

After registering solid and steady growth in sales over the review period, bird food is expected to continue registering increasing sales throughout the forecast period. Birds are still popular as pets in South Korea, especially among those living in apartments in urban areas, where keeping a larger pet such as a cat or dog would be impractical or in many cases not allowed.

COMPETITIVE LANDSCAPE

Daehan Feed maintains its strong leading position in a fragmented category

Daehan Feed stood head and shoulders above its rivals in other pet food at the end of the review period with a value share ten percentage points clear of its closest rival Tetra Werke. The small size of the category and its incipient stage of development mean that there are relatively few players present, with any marketing activity thus having a strong effect on sales.

Shift towards internet retailing channel set to shake up the competitive environment

Internet retailing is already the dominant retail channel for sales of other pet food. and with consumer demand increasingly shifting towards online channels, store-based retailers of other pet food are likely to continue struggling to maintain sales during the forecast period.

Se Wha Pet Food continues to benefit from rising demand for bird food

Se Wha Pet Food remains South Korea’s leading bird food specialist. However, the company continues to struggle due to the widespread shift towards internet retailing, with the wider range of brands available online offering consumers more choice, as well as greater convenience.

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