Pet Products in South Korea

PROSPECTS

Pet humanisation trend boosts growth in pet healthcare and pet dietary supplements

Pet healthcare and pet dietary supplements were the most dynamic pet products categories in 2019. The main reason for this is the increasing interest that people have in the lives and health of their domesticated animals, which is part of the trend towards treating pet dogs and cats, in particular, as fully-fledged members of the family, rather than mere animals.

Products imported from China continue to make inroads in cat litter

With such a wide range of products categorised under pet products, a clear distinction can be made between categories in which high quality and brand name are of primary importance (pet healthcare for instance) and those in which low prices and availability are the most important factors, such as cat litter. Towards the end of the review period, a proliferation was seen in the range of basic low-cost cat litter imported from China.

Wider variety of products to support growth

The widening range of products available in pet dietary supplements and cat litter continues to have a positive effect on value growth in pet products. Cat litter is a category that is particularly polarised between inexpensive products imported from China and premium brands distributed mainly through specialist pet shops and veterinary clinics.

COMPETITIVE LANDSCAPE

Companies are extending their human personal care ranges into the pet care realm

Among the most noteworthy trends in pet products in 2018 was that companies that are present in the manufacturing of personal care products for humans are expanding into the manufacture of similar products that are intended to be used by pets. At the forefront of this trend in South Korea is LG Household & Healthcare, which introduced a range of pet shampoos based on the advanced technology of its human shampoos.

Specialised pet products by domestic players are popular

With demand for pet products increasingly divided into either low-cost, basic products or high-priced value-added items, many of the category’s domestic players are actively introducing pet care products that are in line with those offered by well-known international brands. CHD Medics Co is one player that is moving towards the higher end of the price spectrum, focusing the distribution of its Prunus pet healthcare brand on veterinary clinics.

Private label continues to make inroads into pet products

Private label continues to make inroads into pet products, buoyed by the seemingly relentless rise of internet retailing. Many of the most popular pet products online retailers, including Coupang LLC and Ticket Monster, now promote their own private label products that offer quality similar to the leading premium products, but at far more affordable prices.

Files are delivered directly into your account within a few minutes of purchase.