South Korea Pet Food Market Report and Forecast 2024-2032

South Korea Pet Food Market Size

The South Korea pet food market reached approximately USD 899.92 million in 2023. The market is projected to grow at a CAGR of 7.70% between 2024 and 2032, reaching a value of around USD 1,762.61 million by 2032.

South Korea Pet Food Market Outlook

• China is the top supplier of pet food in South Korea with the United States following close second.

• As per the industry reports in 2023, the pet food export in South Korea witnessed an increase of 56 per cent on year through September.

• The agricultural ministry of South Korea announced in August 2023 that it aims to expand the pet sector to USD 11.47 billion by 2027.

South Korea Pet Food Market Growth

The growing ownership of cats and dogs, rise in disposable income, and increased humanisation of pets are the crucial factors aiding the market growth. A large number of pet owners treat their pets as family members and are willing to spend extra on premium quality pet food products. Moreover, pet food products that meet the specific dietary requirements of a pet such as those which are gluten-free or hypoallergenic have fuelled the sales of pet food in the country.

There is also a surge in the demand for innovative products in South Korea that can offer additional nutrition or address the specific needs of pets. For example, several market players are offering probiotics to enhance digestion, and dental treats that can offer dental care to pets. Sustainability is a prominent trend influencing the pet food market expansion as pet owners become more conscious of their choices and prefer ethically sourced and organic pet food products. There is also an increased demand for sustainable packaging solutions that do not cause environmental pollution.

The South Korean government is focused on expanding and creating a favourable landscape for the pet sector. The Ministry of the Country announced in 2023 that it aims to establish a One-Welfare Valley under which companies can test their pet care products and services such as pet food on pets under regulated conditions in provided facilities. It is also planning on offering low-interest loans to pet product companies to aid with their research and development efforts.

South Korea Pet Food Industry Segmentation

“South Korea Pet Food Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Pet Type

• Dog Food

• Cat Food

• Others

Market Breakup by Product Type

• Dry Pet Food

• Wet and Canned Pet Food

• Snacks and Treats

Market Breakup by Pricing Type

• Mass Products

• Premium Products

Market Breakup by Ingredient Type

• Animal Derived

• Plant Derived

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets

• Speciality Stores

• Online

• Others 

South Korea Pet Food Market Share

Based on pet type, dog food dominates the market. The growing popularity of dogs as household pets and the rising cost of good dog food are credited with this, as more dog owners are becoming concerned about their dogs' health. Dogs are carnivores’ animals and typically eat meat-based foods. The demand for goods with more meat and less starch has thus increased because dogs have a comparatively low requirement for carbohydrate content.

Leading Companies in South Korea Pet Food Market

The market players are expanding their production facilities to stay ahead of the competition.

• Mars Inc.

• Nestlé SA 

• Hill's Pet Nutrition, Inc. 

• Unicharm Corporation 

• Cargill, Incorporated  

• Happy Dream Company Co. Ltd.

• ATBIO 

• Bowwow Korea Co., Ltd 

• Others

Key Highlights of the Report