China's bullish pet economy shines at import expo
SHANGHAI - At the exhibition area of the seventh China International Import Expo (CIIE), a large Japanese-style pavilion featuring two eye-catching giant cartoon mascots has drawn the attention of many curious onlookers.
A black-and-white "cow cat" and a gray-and-white "cheese-colored cat" with glasses lounge atop the structure, playfully sticking out their tongues. Beneath them is a 400-square-meter display space.
The huge "cat's home" is the pet pavilion set up by the Japan External Trade Organization (JETRO).
Aiming to tap into China's growing pet market, 54 Japanese companies and organizations related to the pet industry are showcasing 850 products and services here, covering all aspects of pet care -- from clothing and food to housing and travel for cats, dogs and more.
For many of these businesses and products, the CIIE marks their first appearance outside Japan.
Leading the pack is Buddy Cloud Inc, a Japanese startup that views China as a crucial "incubation hub" for innovation. The company introduced a pet urine-test-strip paired with an online consultation service, which was launched in Japan in August and is now making its international debut at the expo.
Priced at around 80 yuan ($11.2) per at-home test, it allows users to upload photos of the results to a mobile application to receive readings on protein levels, white blood cells, glucose and pH.
"Chinese consumers are highly adept at using online services, and at-home pet testing could see faster adoption in the Chinese market," said Shun Fujii, CEO of the company.
Celebrating its seventh consecutive year at the CIIE, JETRO has observed closely the evolution of the Chinese consumer market.
"We noticed that the average age of pet cats and dogs in China is between three and four years old, while in Japan, it's between six and seven years," said Hiroshi Takayama, deputy president of JETRO Shanghai. This suggests that many people in China are just beginning to adopt pets, and the pet market is still in its growth phase.
According to the organization, Chinese customers' interest has expanded from products like sake, plum wine, shochu and specialty soy sauces for various cuisines, to outdoor gear for activities like skiing and camping, and now to pet products and services -- all reflecting Chinese consumers' growing pursuit of wellness and an enhanced quality of life.
According to an industry report, the number of pet dogs in China reached 51.75 million in 2023, while pet cats numbered 69.8 million. The urban pet (dogs and cats) consumption market grew to 279.3 billion yuan in 2023, up 3.2 percent from 2022, and is projected to climb to 361.3 billion yuan by 2026.
Zhou Ting, a visitor from Shanghai, who bought a pet toothbrush at last year's CIIE, was once again amazed by this year's diverse array of products.
Her 3-year-old son and their 7-year-old corgi are best friends, celebrating birthdays, camping and traveling together -- even wearing matching coats. "I hope my dog can stay healthy and happy, and keep my child company for as long as possible," Zhou said.
Like Zhou, a growing number of Chinese people are embracing the companionship of pets, treating them like "children" and wanting them to enjoy a similar lifestyle.
Korean company Young In Bio is sniffing out opportunities in the promising market of pet food resembling human food.
During this year's CIIE, the company debuted specialized instant ramen for pet dogs in the Chinese market, catering to pet owners who want their pets to enjoy the same types of food they do.
"We've brought five flavors of ramen, including chicken, vegan, seafood, cheese and black bean sauce, which have been incredibly popular," said a staff member surnamed Yin. "Today is the last day of the expo, and we're down to just these last few packs in only two of the flavors."
"Since the Republic of Korea is known for its ramen culture, we thought this would add a sense of ritual for pet owners' daily lives and be effective for online marketing, especially on platforms like Instagram," said Choi In Jeong, the company's representative director.
"Last year, we entered the US market, exporting over a dozen containers of products within a year," Choi said. "And we dream bigger in the Chinese market."
The company is expected to formally enter the Chinese market early next year and establish a production line in China, which will further reduce product prices.
Amano Shinya, the president of JETRO Shanghai, believes that Chinese consumer demand is becoming increasingly diverse, with growth across niche sectors. For companies, accurately capturing market demand is essential.
This, he added, underscores the significance of China's commitment to holding the CIIE and continually expanding its opening up.
No comments:
Post a Comment