Hosted in the world’s third largest pet market, the 122nd China Import and Export Fair (Canton Fair) has reported a 3.6 percent year-on-year increase of buyers with total transaction volume growing by 8.2 percent year-on-year. Exhibitors at the pet products and food sector have seen significant increases in the number of inquiries they received at the tradeshow, reflecting the considerable growth of global as well as Chinese pet market.
The global pet market has reached 105 billion yuan (US$15.86 billion) since 2015, achieving 5.06 percent compound growth over the past five years. At the 122nd Canton Fair, the pet sector featured a diverse array of pet products that were showcased in groups so that buyers could compare quality and price.
Maggie Pu, Deputy Director General of the Foreign Affairs Office of the Canton Fair, noted that the Canton Fair has created a positive cycle in the pet market where products encourage needs and needs drive innovation. "The booming pet market has encouraged many companies to bring new products to the Canton Fair, including automatic feeders and automatic cat teasers, as well as cat and dog beds made of environmentally-friendly materials," said Pu.
Growing Market Drives Innovation
The 122nd Canton Fair has unveiled a wide range of creative pet products. DoggyMan Trading (Shanghai) Co., Ltd. brought gym equipment that allows pets to exercise alongside their owners. The product helps customers walk their dogs indoors on rainy days, serving as fitness equipment for both owners and pets.
"We want to try out new products that are very rare at Canton Fair. As the market for pet consumer goods continues to expand, more categories of products will be created in the near future," said the company’s representative, Zhang Hongliang.
Shanghai Xinjian Pet, which has clients in more than 10 countries and regions, showcased a popular rope toy with a Christmas-themed design that enables pets to play, grind their teeth and develop their intelligence.
Pet Market’s Global Reach
China Pet Foods brought their pet food, cat litter and snack biscuits to the 122nd Canton Fair. The company’s key customers are mainly from South America, Africa and Asia where the market has been booming for the past two years.
Zhuang Mingyun, General Manager of Wenzhou Yuanfei Pet Toy Company, whose company has achieved average annual growth of 15 percent, and 40 percent growth this year, has been attending Canton Fair since 2006. "Our key clients mostly come from the US, Europe and Japan," said Zhang. "Coming to Canton Fair to meet more pet product vendors is very helpful to our business."