South Korea Animal Supplement Market

South Korea Animal Supplement Market reached US$ 200.56 million in 2023 and is expected to reach US$ 282.58 million by 2027, growing with a CAGR of 9.16% during the forecast period 2024-2027.

South Korea has witnessed a rapid increase in pet ownership, with dogs and cats being the most popular pets. This demographic shift is driven by changing lifestyles, urbanization and a cultural shift toward viewing pets as companions and family members rather than mere animals. The animal supplement market in South Korea offers a diverse range of products tailored to meet various pet health needs. Manufacturers innovate to introduce new formulations, ingredients and delivery methods that enhance product efficacy and appeal to discerning pet owners.

There is a growing awareness among South Korean pet owners about the importance of maintaining their pets' health and wellness. Pet health awareness campaigns, veterinary recommendations and access to information through digital platforms contribute to this heightened awareness.

Despite the positive growth trajectory, the animal supplement market in South Korea faces challenges such as price sensitivity among consumers, competitive pressures and regulatory complexities. Price sensitivity can impact purchasing decisions, particularly in a market where consumers prioritize value and affordability.

The animal supplement market in South Korea is poised for continued growth driven by increasing pet ownership, heightened awareness of pet health and regulatory adherence to quality standards. As pet owners continue to prioritize their pets' well-being, the market offers opportunities for innovation, market expansion and meeting evolving consumer preferences in the dynamic landscape of pet care products.

Market Drivers

Significant Increase in Pet Ownership

Supplements often complement veterinary care, addressing gaps in nutrition or providing additional support for pets with specific health conditions. As more pet owners prioritize comprehensive healthcare for their pets, the demand for supplements recommended by veterinarians increases.

The growing pet ownership demographic encourages innovation in product offerings. Companies develop a variety of supplements tailored to different pet species, breeds, sizes and health needs, catering to a diverse and expanding market. Owners are more willing to invest in supplements to ensure their pets' health and longevity, mirroring trends seen in human health and wellness markets.

Moreover, more pet owners mean a larger potential market for animal supplements. As the number of pet-owning households grows, so does the overall demand for products that enhance pets' health and well-being. For instance, according to the Korea Times, 2024, estimated that, about one out of four Koreans raised pet animals and they spent 150,000 won ($123) per month on average.

Additionally, imports are estimated to account for over 70% of the pet food market in Korea, according to the United States Department of Agriculture(USDA). The United States and China are the major importers to the country, the former leading by about 27%.

Therefore, the significant increase in pet ownership in South Korea acts as a foundational driver for the growth of the animal supplements market. It expands the consumer base, enhances awareness of pet health needs, fosters innovation in product development and aligns with broader societal shifts towards proactive pet care practices. These factors collectively contribute to a robust and expanding market for animal supplements in South Korea.

Regulations Governing Pet Supplements in South Korea

Regulations in South Korea mandate that pet supplements undergo rigorous testing and approval processes to ensure their safety and efficacy before they can be marketed and sold. This regulatory oversight helps to build consumer confidence in the quality and reliability of supplements available in the market.

For instance, the Ministry of Agriculture, Food and Rural Affairs (MAFRA) oversees the regulation of pet supplements under the ""Act on the Registration and Evaluation of Chemical Substances"" and the ""Act on Animal Protection and Management."" These laws mandate that manufacturers provide evidence of safety and efficacy through clinical trials and scientific studies.

Additionally, regulatory frameworks in South Korea prohibit misleading claims and unsubstantiated health benefits in advertising and product labeling. This restriction fosters a competitive environment where manufacturers must differentiate their products based on credible scientific evidence and efficacy. An example includes regulations stipulating that all health claims made about pet supplements must be supported by scientific data and approved by regulatory authorities.

Moreover, by enforcing strict regulations, South Korean authorities indirectly contribute to consumer education and awareness regarding the importance of pet health and nutrition. Pet owners are more likely to trust supplements that have been vetted and approved by regulatory bodies, leading to increased adoption of these products as part of routine pet care.

The regulatory framework governing pet supplements in South Korea serves as a cornerstone for driving the animal supplement market by ensuring product safety, fostering innovation, promoting transparency in labeling and advertising and enhancing consumer confidence. These regulations create a conducive environment where manufacturers can thrive by delivering products that meet high standards of quality and efficacy, ultimately benefiting both pet owners and the broader pet care industry.

Market Restraints

Price Sensitivity Among Consumers

Price sensitivity directly influences consumers' perceptions of value and affordability when considering animal supplements. In South Korea, where pet ownership is increasing but economic factors can vary, pet owners may prioritize necessities over supplemental products perceived as non-essential.

For instance, during periods of economic uncertainty or when facing financial constraints, pet owners may hesitate to spend on supplements that are priced higher relative to their perceived benefits. This reluctance can lead to delayed or reduced purchases, affecting overall market demand. Additionally, price sensitivity can make it challenging for manufacturers and retailers to differentiate their products solely based on price. While competitive pricing strategies can attract cost-conscious consumers, they may also erode profit margins if not managed carefully.

For instance, manufacturers may face pressure to lower prices or offer discounts to remain competitive, especially in a market where price comparison and consumer price sensitivity are prevalent. This competitive pricing environment can limit investment in product innovation or marketing initiatives that differentiate supplements based on unique benefits or premium ingredients.

To mitigate the impact of price sensitivity, manufacturers and retailers can employ strategic educational and marketing strategies. Educating consumers about the long-term health benefits of supplements, demonstrating value through product efficacy studies or testimonials and offering promotions or bundled pricing can help alleviate concerns about price while highlighting the value proposition of supplements. Thus, the above factors may hamper the market growth.

Market Segment Analysis

The South Korea animal supplement market is segmented based on animal type, ingredient, form and distribution channel.

Economic Significance of Livestock Farming Drives the Segment Growth

The livestock animal segment is expected to dominate the market during the forecast period 2024-2027. Livestock farming is a vital part of South Korea's agricultural sector, contributing significantly to the nation's economy. The country has a substantial population of livestock, particularly in poultry, swine and cattle farming. The demand for animal-derived food products, such as meat, milk and eggs, is strong, driven by domestic consumption and food security concerns.

For instance, according to the Institute of Animal Law of Asia, the livestock sector in South Korea is continually growing. In the livestock farming industry, cattle is the dominant type of farming in the country. In 2021, it was estimated that there were approximately 94.5 thousand cattle farms in South Korea, which included beef cattle and dairy cattle. Cattle farming was followed by pig farms (5.9 thousand).

South Korea’s livestock industry is highly industrialized, emphasizing efficiency and productivity. Supplements are crucial in enhancing feed efficiency, boosting growth rates and improving reproductive performance, which is vital for the profitability of large-scale operations. Supplementation with vitamins, minerals, amino acids and probiotics helps livestock grow faster and more uniformly, ensuring maximum productivity.

Sustainability Analysis

Sustainability is an increasingly important factor in the South Korean animal supplements market, driven by the need for environmentally friendly farming practices and efficient resource use. Livestock farming contributes to environmental issues such as greenhouse gas emissions, water consumption and land degradation. Animal supplements help mitigate these impacts by improving feed efficiency and reducing waste.

For instance, in cattle farming, supplements like methane inhibitors and rumen modifiers help reduce methane emissions from ruminants, which are a major source of greenhouse gases in agriculture. This aligns with South Korea’s commitment to reducing carbon emissions under global climate agreements.

Supplements optimize the nutritional intake of livestock, leading to better feed conversion rates. This reduces the amount of feed required to produce the same amount of animal protein, conserving natural resources and reducing the environmental footprint of farming. Like, enzyme supplements in poultry and swine diets enhance digestion and nutrient absorption, which reduces the amount of feed needed and minimizes waste, lowering the environmental burden of feed production.

South Korea’s focus on producing premium, high-quality livestock products like Hanwoo beef has led to increased use of supplements that enhance animal welfare and product quality while minimizing environmental impacts. For instance, omega-3 supplements in cattle feed not only improve meat quality but also promote sustainable farming practices by ensuring healthier livestock that require fewer medical interventions, contributing to overall sustainability in the sector.

Unmet Needs

There is a growing demand for supplements that address specific health conditions prevalent among pets in South Korea, such as allergies, digestive disorders and age-related ailments. Currently, there is a gap in the availability of tailored formulations that effectively target these conditions with scientifically validated ingredients.

While there is increasing consumer preference for natural and organic ingredients in pet supplements, the market in South Korea still lacks a wide range of options that meet stringent organic certification standards. Pet owners seeking supplements free from artificial additives, preservatives and GMOs often face limited choices.

There is an opportunity for manufacturers to innovate in delivery systems for animal supplements to enhance efficacy, palatability and ease of administration. Current options predominantly include tablets, soft chews and powders, but there is potential for advancements in controlled-release formulations or novel delivery methods such as microencapsulation or transdermal patches.

Pet owners often seek reliable information and guidance on selecting the right supplements for their pets' specific health needs. There is a need for educational resources that empower consumers with knowledge about supplement ingredients, dosage recommendations, potential interactions and expected health benefits.

Addressing these unmet needs presents significant opportunities for growth and innovation in the animal supplements market in South Korea. By focusing on tailored health solutions, natural and organic options, innovative delivery systems, transparency in sourcing and educational support, manufacturers can effectively meet evolving consumer demands and differentiate their products in a competitive marketplace.

Market Competitive Landscape

The major global players in the South Korean market include KOREA PET FOOD CO., LTD. (THE DOG n CAT), Careside Co., Ltd., Centinal Group South Korea, PUPPYKITTYRANG CO., Labtopia Co., Ltd. and among others.

By Animal Type
• Livestock Animals

o Cattle

o Poultry

o Swine

o Horses

o Others
• Companion Animals

o Dogs

o Cats

o Birds

o Other Small Mammals

By Ingredient
• Vitamins & Minerals
• Amino Acids
• Omega Fatty Acids
• Probiotics & Prebiotics
• Botanicals
• Others

By Form
• Powder
• Liquid
• Tablets/Capsules
• Injections

By Distribution Channel
• Online Retailers
• Specialty Pet Stores
• Veterinary Clinics
• Convenience Stores
• Supermarkets/Hypermarkets
• Pharmacies and Drug Stores
• Other Distribution Channels

Key Developments
• In March 2021, South Korean biopharma firm Green Cross LabCell established a pet healthcare unit, the company announced. The new entity, Green Vet, plans to introduce healthcare solutions and products that address various issues regarding the overall life quality of companion animals in addition to essential medical support.

Why Purchase the Report?
• To visualize the South Korea animal supplement market segmentation based on animal type, ingredient, form and distribution channel, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of the South Korea animal supplement market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The South Korea animal supplement market report would provide approximately 27 tables, 33 figures and 198 pages.

Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies