Hong Kong Pet Market

While the birth rate of Hong Kong in 2022 had an alarming decline of almost a 40% from 52,900 in 2019 to 32,501, the pet care industry is one of the city’s few bright spots as according to Euromonitor in 2023, Hong Kong is the number one ultra -premium pet market in Asia after Taiwan, Japan, and Singapore as pet food sales rose up to US$723.6 million in 2022.  

While pet care has been growing consistently, this trend escalated in 2020 during COVID up till the end of 2021. The most visible growth area is in the dog and cat premium food category as it makes up almost 75% of Hong Kong’s market.  In comparison, the premium sector for Japan, Taiwan and Singapore ranges from 55% and 60%. This growth is staggering as Japan and Taiwan have a higher number of pets per household compared to Hong Kong at one per household yet both countries’ per capita spend is approximately half that of Hong Kong’s.  

Hong Kong’s pet care per capita spending is hovering around US$140 and pet owners continued to splurge on pet products despite high- inflation and rising cost of living as pets are considered as an extension of the family.  This consumption habit is so ubiquitous that retailers like Watsons have now jumped on the bandwagon to launch Watsons Pets to capture the pet care market.  

Despite its size, numerous high-end U.S. pet food exporters have found Hong Kong to be an important market where pet owners are willing to spend and receptive towards high quality sophisticated products. Pet owners are well-versed in latest food trends transition to raw food, grain-free and high-quality protein diets.  

Other than pet food, pet owners are also turning to nutritional supplements to help enhance the quality of their pets’ lives.  According to one of HK’s largest e-commerce sites for pet supplies, 12% of their sales now from supplements. Some popular pet supplements include those that address mobility, digestion, coat support, immunity, and general health issues.  In short, pet owners here in Hong Kong are vested in helping their pets live a long time.

U.S. pet exporters seeking more information may contact us at Office.HongKong@trade.gov.