One out of every four South Korean households owns at least one pet. According to Korea Pet Food Association, the dog and cat populations in 2016 were of 4.2 million and 1.6 million, respectively, and raised up to 6 million and 2.6 million in 2020.

Rapid urbanization and changing lifestyle have brought about a renewed interest in pets in the country. These values demonstrate the changing attitude of the South Korean population and why the pet food market is projected to grow over the coming years along with its pet population.

The COVID-19 pandemic slightly affected the pet food value sales and positively impacted pet adoptions in South Korea. Overall, the pet food market sales bounced back once the economy recovered.

The South Korean pet food market is segmented by animal type (dogs, cats…), product type (dry pet foods, wet pet foods, veterinary diets, treats and snacks…), price, ingredients used, and distribution channel (specialty stores, supermarkets, online channels…).

The dog segment dominates the market, holding 70% of the market share, as dogs are the most popular pet in the country. Dry dog food is the most sold segment. While economic pet food currently dominates the market, premium pet food sales have been increasing rapidly. Online pet food sales are growing significantly linked to lockdown restrictions and the discounts available.

The trend of pet humanization, as well as the growing income, are driving the market further, with consumers preference towards high-quality and specialized foods.

Capitalizing on this trend, companies are launching premium pet foods, made from organic, protein-rich ingredients of plant or insect origin, without GMO, chemical preservatives nor synthetic pigments. Furthermore, therapeutic, or functional foods, including probiotics and other natural additives, are being launched yearly.

The pet food market in South Korea is fragmented among large multinational players and small domestic manufacturers, although is mainly dominated by well-known and mostly foreign brands.

According to a survey by the Korea Pet food Association, pet owners make the purchasing decision for imported food based on two reasons, the diversity, and nutritional benefits, and show low sensitivity to the price, because there is a high level of brand loyalty, leaving foreign brands more room to explore the market.

Many South Koreans prefer US brands, and the US is the largest exporter of pet food in terms of import volume. China and Thailand are growing competitors. The United States supplied 22.5% of South Korea’s dog and cat food products, amounting to 17,560 ton, followed by Thailand, which supplied 8,755 ton.

South Korean companies are gaining market share by introducing high-quality and lower-priced products to compete with imported food, including function/attribute specific products.