The Growing Pet Market in China
Euromonitor Research Analyst Shanshan Lu explains how the pet care market in China has been steadily growing since the end of the economic recession has been reached. Since China has reached a slight positive turn in its economy, pet owners are becoming more confident and are starting to spend more on their pets – whether the products are necessary or luxury items.
The pet care industry in China is being increasingly regulated. For example, 2010 is the first year that China is requiring all veterinarians to pass an examination in order to obtain a license. Not only does this create a professional atmosphere for veterinarians, but it also creates trust between pet owners and vets.
The competition for market share in the pet care industry is becoming more and more dynamic. International leading players are competing to expand their distribution networks, and national brands are offering products at competitive prices to secure brand loyalty.
Internet retailing is also becoming more prevalent in China, with online distribution growing steadily over the past five years. Local brands have already launched online stores, with international brands likely to follow.
Pet care in China is expected to maintain its healthy growth over the upcoming years, and China will remain an attractive market to all manufactures and distributors of pet care and pet food products.
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