About Pet Fair Asia 2024：

The 26th edition of Pet Fair Asia will take place in Shanghai from 21st to 25th August 2024 at Shanghai New International Expo Centre (SNIEC). This year, the show is set to reach the largest scale up to date, covering a total exhibiting area of 300,000 sqm around 17 halls plus Pet Fair Asia Supply area and gathering well over 2500 exhibitors from China and all over the world. Pet Fair Asia is the global pet industry’s flagship exhibition in terms of scale, lineup and theme.

Table of content

1. The China pet market and its potential
2. The expanding pet product category
3. Daydream: B2B Tailor-made Projects in Europe / Asia / North America
4. Source

1. The China pet market and its potential

According to the “2023-2024 China Pet Industry White Paper,” the China urban pet (dogs and cats) consumption market in 2023 reached 40 billion USD, has become the world’s second-largest pet consumption market, second only to the United States.

Figures: In 2023:

  • Pet dogs’ estimation: 51.75 million
  • Average annual expenditure per dog: 408 USD
  • Pet cats’ estimation: 69.8 million
  • Average annual expenditure per cat: 265 USD.

2. The expanding pet product category

2.1 Pet food

2.1.1 Wet food

In 2024- Pet Fair, wet pet food emerged as the most popular product category, and it is gradually evolving from a snack (supplementary food) to a staple food.

The ‘Cat economy’ sees fastest growing wet food market share.

Preservation Needs: The high moisture content of pet wet food (generally between 70-85%) makes preservation a major challenge.

Natural preservative suppliers, as some natural preservatives like vitamin E and rosemary extract are more favored by pet owners compared to traditional preservatives (sodium benzoate …)

Nutritional Supplements: Vitamins are common additives in pet food: For wet food, the water solubility and absorption rate of these components are given greater importance. Some highly water-soluble fibers, such as resistant dextrin, inulin, and fructooligosaccharides, can effectively improve pet gut health and better used in wet food (vs dry food).

In wet food production, high-temperature sterilization is usually performed after cooking, which positively impacts the sales of more stable vitamins that use encapsulation technology.

2.1.2 Dry food

Personalized Nutrition Plans: Offering personalized nutrition plans based on a pet’s age, size, breed, activity level, and health status is a market trend. Brands are introducing dry foods with specific functions, such as weight management, sensitive digestion, joint health, and skin care, to meet the needs of different pets (utilization: probiotics, prebiotics, vitamin D, minerals, glucosamine, …).

Focus on Managing Pet Health Issues: To manage pets obesity, some manufacturers are offer dry foods with lower fat content and higher protein.

And some manufacturers are exploring more complex fat combinations, such as poultry fat + fish oil + livestock fat, to address the issues of single-source fats.

Protein source substitution is also a common health management solution this year, replacing traditional protein sources (eg. duck meat to reduce allergies).

2.1.3 Nutritional Supplements

The market for pet nutritional supplements and diagnostic methods has grown rapidly in recent years.

Human Nutritional Supplements: Some ingredients traditionally used for human health are actively entering the pet market (eg. sodium hyaluronate, …)

Enhancing Pet Well-being: In addition to traditional vitamins and minerals, supplements aimed at improving pet well-being are gaining popularity. Nutrition suppliers mentioned that the rise in remote work of pet owners since the COVID may lead to increased stress in pets, causing issues such as over-excitement or insomnia. As a result, products that help alleviate stress, such as melatonin, L-theanine …

Senior Pet Supplements:  In addition to common joint health supplements like glucosamine, chondroitin, and Omega-3, milk thistle extract which traditionally used for liver health in humans and cranberry extract for improving urinary health.

Liquid Pet Supplements: To address the challenge of “difficult medication” for pets, many manufacturers are introducing liquid nutritional supplements such as sprays, gels, and drops, in addition to traditional chewable tablets, pills, and powders.

3. Daydream: B2B Tailor-made Projects in Europe / Asia / North America

Since 2000, Daydream in Asia, Europe, North America:

  • Market & Business Strategy
  • New Business Development
  • Sustainability
  • Business Improvement for Market and Sales (Market Segmentation, Client Segmentation, Channel-to-market, Business & Go-to-market Plan, M&A Scouting, Capex project…)

Daydream has performed multiple projects for B2B Food & Feed companies.

Daydream facts & figures:

  • Over 120 B2B clients
  • Three offices: Cologne for Europe, Philadelphia for Americas, Shanghai for Asia
  • One unique best-in-class methodology and a team of engineers and PhDs
  • A unique methodology & experiences
  • A large network and knowledge

4. Source

  • 2023-2024 China Pet Industry White Paper
  • Paidu Pet Industry Big Data
  • 2023 China Pet Food Consumption Report
  • China Pet Health Consumption White Paper
  • Gambol Pet Prospectus
  • Wanlian Securities Research Institute