Pet Products in South Korea

PROSPECTS

Growth of cat ownership boosts demand for litter

The pet products category saw continued growth in 2020, with an increasing variety of products on offer. In cat litter, volume increased rapidly as the number of cats kept as pets increased, but value performance was weaker than that of cat food.

Eagle Vet introduces probiotic offer for dogs

Pet dietary supplements and pet healthcare products also increased gradually in value terms in 2020. As the country’s pet culture matures, consumers are increasingly interested in feeding healthcare products and nutritional supplements to their animals.

Recommendations from vets’ clinics carry weight among pet owners seeking supplements

As the role of veterinary clinics shifts from focusing on treatment to including sales of pet food, vets will recommend more dietary supplements in the process of treatment. Their recommendations will influence consumer interest in dietary supplements and healthcare products in coming years.

COMPETITIVE LANDSCAPE

Sungbo Pet Healthcare gains share to take lead of fragmented environment, Sirius brand gains share and improves category position

Sungbo Pet Healthcare Inc jumped to first place in the rankings in 2019 from third position the previous year. The company developed soft kibble, containing more moisture than dry food, and expanded its offer of nutritional products such as therapeutic pet food.

Aekyung’s Whistle brand benefits from demand for convenience and cleanliness

Following the successful launch of pet care products by a hair care manufacturer, other players in the same industry, for example, Aekyung Industrial, also entered pet care. For example, Aekyung's premium pet care brand 'Whistle' saw sales growth at the end of the review period.

Private label makes gains with comparable quality to branded products, and priority merchandising by retailers

Private label continues to make inroads into pet products, buoyed by the continued growth of e-commerce. Many of the most popular online retailers of pet products, including Coupang LLC and Ticket Monster, now promote their own private label ranges, which offer quality similar to that of the leading premium products, but at far more affordable prices.

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