Recently, the "2023 Pet Industry White Paper" was jointly released by Ocean Engine (an advertising platform in China) and Euromonitor International (a company that provides industry information and data).
Recently, the "2023 Pet Industry White Paper" was jointly released by Ocean Engine (an advertising platform in China) and Euromonitor International (a company that provides industry information and data). Combining Douyin pet industry ecosystem with Euromonitor consumer research data, the report provides detailed insights into the online marketing and growth of the pet industry and deeply analyzes the development status and trends of China's pet industry from the following three aspects.
Reference source: [Ocean Insights]
1. China's pet industry has experienced three core stages of development over the past few decades, and is currently entering a period of orderly growth driven by the upgrading of national pet consumption. Data shows that core drivers of the rapid development and evolution of the Chinese pet industry include economic growth, changes in population structure, shifts in pet-keeping attitudes, and internet development.
2. In 2022, the market size of China's pet industry reached 84.7 billion yuan, making it the second largest pet market in the world. Compared with mature foreign markets, the average household consumption in China is relatively low, suggesting greater development potential in the future.
3. Overall, the pet food sector is the mainstream of the pet industry and continues to lead the industry's rapid development. In the pet food market, the cat market's size and growth rate both exceed those of the dog market. China has entered the age of the "cat economy" with dry food remaining the mainstream, while wet food and snacks are growing rapidly.
4. Sales of pet supplies are steadily increasing. In 2022, the size of the pet supplies market reached 34 billion yuan, accounting for 40% of the market share. The competition in this market remains fairly dispersed, and the market is still an untapped blue ocean for many companies.
The report profiles Douyin's pet users as the core target audience, and from the perspectives of "people, goods, and markets", makes the following judgments about the trends in China's pet industry
Trend 1: The pet industry is attracting more females, Generation Z, and people from top-tier cities, and various sub-sectors are showing multi polarization.
Trend 2: The population of pet owners is expanding, with Douyin becoming the main platform for consumers to learn about and purchase pet-related products.
Trend 3: Pet food ingredients are becoming more natural and healthy, with "element" type ingredients becoming more common in pet food formulations.
Trend 4: Pet food efficacy is further subdivided, and the attention of pet food with "mental health" related benefits is increasing.
Trend 5: Consumers' awareness of pet hygiene is elevated, and pet grooming products combine medical and healthcare requirements with beauty needs. The use of insect repellents is growing, with like flea and tick dog collars becoming a typical innovative practice.
Trend 6: Technology liberates hands. Smart pet products are becoming fully integrated into daily life and freeing up time for pet owners.
Trend 7: One-stop online shopping has become mainstream, and Douyin has become a central hub for users to shop.
Trend 8: Interactive marketing strategies can deepen user engagement and amplify brand value.
In the last part of the report, based on the detailed analysis of the industry's current state and development trends in the first two parts, it proposes a 3C strategy guide for the operation of Douyin's pet industry from three aspects - consumer, commodity, and content.
Focus on three main types of user groups and convey core values accurately. Brands must pay attention to the core purchasing factors of these three main groups of users and cater to their core needs.
Sharpen insights into demand trends and expand product lines. Pet brands need to enter the mid-to-high-end market, promote upgrading of products or brand elevation, seize the chance provided by pet food efficacy transitioning to the up-market segment, and use large package sizes to meet users' cost-effective needs.
Deepen relationships with users through scenario-based and vertical content creation. Specifically, brands must craft content strategies based on user usage scenarios, balance demand interception and supply for different content tracks, grasp the characteristics of popular breeds and create vertical content that appeals to users, and leverage hot topics to increase exposure by breaking out of existing limitations.
At the end of the report, taking 5 brands such as McFoodie as representative cases, it analyzes their marketing communication strategies on the Douyin platform. In today's increasingly competitive economic environment, this industry report can help pet industry practitioners to win the market during the industry's upgrade phase.
We can analyze the data and insights presented in this authoritative industry report to understand and grasp the new trends in the pet industry, capture market demands proactively, showcase our unique advantages, and adjust strategy promptly when necessary to embrace new opportunities and challenges.