Recently, the topics of "pet boarding during the Spring Festival can cost up to 1,000 yuan per night" and "a girl in Nanjing prepares New Year's Eve dinner and couplets for her cat" have become trending topics, sparking heated discussions among netizens. "Pet transport," "pet boarding," and "pet New Year's Eve dinner" have become some of the hottest consumer topics.
On January 16, 2023, JD.com released a report showing that during the Spring Festival, sales of pet transportation services increased by 95% compared to the previous period, while sales of airline-issued pet carriers and portable bags increased by 72%, and pet travel mugs increased by 70%. Meanwhile, pet New Year's Eve dinners also became a new trend, with sales increasing by 64% year-on-year. Pet food and supplies continued to be bestsellers during the Spring Festival shopping season, reflecting the growing number of pet owners and strong demand for pet-related products.
According to the "2022 China Pet Fish Oil Capsule Market Research Report" released by iiMedia Research, a global third-party data mining and analysis institution for the new economy industry, the Chinese pet economy market size reached 221.2 billion yuan in 2019 and is projected to reach 811.4 billion yuan by 2025, with an average annual growth rate exceeding 20%, making it one of the fastest-growing industries in China in recent years. From 2015 to 2021, the number of pet-owning households in China increased 2.6 times, and the pet food market size increased 5.6 times. With the upgrading of refined feeding concepts, the pet food industry is expected to usher in explosive growth. The pet industry is becoming increasingly diversified, and pet snacks and health products are gradually becoming daily options for pet owners when purchasing pet food. In addition, the strong demand for pet health products is driving the rapid development of the pet fish oil sector.
With pet health receiving increasing attention, pet fish oil is poised for rapid growth.
With the rise of the pet economy and the promotion of scientific pet care concepts, "family-style pet ownership" is becoming a trend, and the emotional attributes of pets are increasingly prominent. Pet owners are paying more attention to their pets' nutrition and health, and their consumption demands are becoming more professional and personalized. These demands are driving the segmentation of the pet health care industry. Data shows that 71% of pet owners use products for strengthening the body, 63% for alleviating symptoms, 52% for promoting healthy coats, and 46% for regulating digestive health. More and more food products are incorporating various health ingredients to highlight product differentiation, leading to more precise segmentation of the pet product market and fostering the emergence of new consumption concepts.
The rapid growth of pet coat care products in 2022 has created a development opportunity for pet fish oil. Deep-sea fish oil is rich in polyunsaturated fatty acids DHA and EPA, which have functions such as preventing cardiovascular and cerebrovascular diseases and improving brain function. It can improve pet coat, promote the development of pet brain nerves and tissues, and maintain the cardiovascular and cerebrovascular health of pets, thus becoming increasingly popular.
As pets' emotional connection to their owners becomes increasingly prominent, pet owners are more willing to spend money on their furry friends, creating a growth opportunity for pet fish oil. Report data shows that the Chinese pet fish oil market reached 430 million yuan in 2022. As a new and promising sector, pet fish oil is expected to continue expanding, with the market size potentially reaching 960 million yuan by 2025.
Surveys show that pet fish oil products on the market are mainly divided into two categories: whole bottles and capsules. Capsule products, with their portability, ease of storage, and precise feeding capabilities, meet the diverse feeding needs of pet owners and have seen strong sales in the past two years. Research data shows that in 2022, 33% of pet owners purchased pet fish oil capsules more frequently, exceeding the number of pets who lost their pets to other products, indicating considerable overall growth potential for pet fish oil capsules.
With the rapid expansion of demand in the pet market, pet food has become a business worth hundreds of billions of yuan. Brands have rushed to capitalize on this trend, creating a "fish oil craze" in the industry and intensifying competition.
With multiple brands entering the pet fish oil market, JueMei pet fish oil capsules ranked first in sales in 2022.
Since 2021, the demand for pet fish oil capsules has surged, with more and more brands starting to develop this new product category. In September 2021, MAG launched its new U+ series MAG ultra-concentrated natural fish oil, achieving a significant improvement in fish oil concentration and quality through five key features. JueMei fish oil prioritizes the selection of raw materials, using deep-sea fish oil sourced entirely from Peru, one of the world's four major fishing grounds, and employing human-grade feed ingredients. Astaxanthin has long been recognized as a strong antioxidant; JueMei, in collaboration with professional research institutions, addressed the pain point of fish oil's easy oxidation leading to souring and spoilage by innovating its formula and packaging preservation methods for fish oil anti-oxidation technology, becoming the first brand in China to launch pet fish oil soft capsules.
Jumei is one of the earliest brands in China to produce and sell fish oil capsules. Its early start gives it a first-mover advantage, making it the pioneer of the pet fish oil capsule category nationwide. The report shows that in 2022, Jumei Pet Care accounted for 34.5% of the total sales volume of fish oil capsules in China, ranking first in the industry and demonstrating rapid growth.
The pet market has enormous potential, and facing an increasingly segmented market, pet companies need to become more professional and brand-oriented. JueMei Pet Industry, as a leading player in the fish oil capsule industry, boasts high user satisfaction and strong customer loyalty. Its comprehensive fish oil capsule product portfolio, well-established operational channels, and rich product operation experience have earned widespread recognition from pet owners.
Research shows that Jumei Pet Food, as a leader in the pet food industry, has achieved high brand awareness in China. In recent years, with the rise of new media platforms such as Douyin and Xiaohongshu, various categories of pet food have entered the public eye and are becoming increasingly popular. To allow consumers to purchase their desired products through different channels, Jumei Pet Food has developed a multi-channel strategy, encompassing traditional e-commerce, live-streaming e-commerce, private domain traffic, and offline stores, meeting diverse consumer purchasing needs. Jumei Pet Food also possesses comprehensive competitive advantages in R&D, production, distribution channels, and branding, and continues to provide consumers with new pet products.
Due to demographic changes, increased emotional needs and social pressures, and rising loneliness, pets have been given the emotional role of friends and family. my country's pet industry is currently in the initial stage of growth, with pet food consumption being the first to develop due to its high frequency and large volume. As pet owners' demands increase, pet food continues to diversify.
The "pet economy" continues to boom, with more and more pet owners paying attention to the nutritional composition and brand awareness of health products, leading to a gradual increase in spending on pet health supplements. In this thriving blue ocean market, JueMei Pet Industry's fish oil capsules hold a prominent market position. However, facing an increasingly competitive market landscape, the company needs to continuously focus on product innovation, channel updates, and brand building, actively responding to the increasingly segmented and differentiated consumer needs of pet owners to seize more market share and continuously accumulate brand value.
