Recent studies predict that the global pet market will reach $493 billion by 2030. Economic growth, aging populations, and increasing single-person households are driving the rise in pet ownership, boosting the pet food market. South Korea's pet food market expanded from 415.4 billion won in 2010 to 1.761 trillion won in 2022, and is expected to hit 2.492 trillion won by 2028.

The cat food segment shows notable growth, with production increasing by an average of 59.9% annually from 2016 to 2022. Pet food exports also surged from $12.57 million in 2011 to $149.75 million in 2023. Domestically, the top five companies account for 43.9% of the market, with online channels leading in distribution.

This shift reflects growing consumer demand for healthier and safer pet food options as pets are increasingly seen as family members.

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