Domestic brands are rising.
Be
Wen | Huashangkiko
Dog, cat, increasingly becoming a “renewable good party” of the city.
I don’t know when, pets have become the real “companion” of “workers”. A friend, in order to treat the dog, a few thousand pieces; how many social animals are willing to do the kitten shovel.
[Pet economy hot high-rise capital creates a “aircraft carrier”]
During the National Day Golden Week, the pet hosted service in the first and second-tier cities was extremely hot. The price was 50-300 yuan / day, and some stores also provided travelers and pet dynamic video broadcast services.
The huge pony group has brought the speed of the pet economy and has now reached 300 billion.
“2019 China Pet Industry White Paper” shows that since 2010, the annual complex growth rate of my country’s urban pet industry market has reached 34.55%.
Ai Rui consulting predicts that the number of pet industries in the 2023 pet industry will reach 445.6 billion yuan, indicating that it is a new mineral for business opportunities.
If the market has a tone, capital must be a “catch”.
With the pole of pet tracks, the top-level investment institutions such as the high-level market in the first-level market, the top-level investment institutions such as KKR have already been dispatched, and they are struggling to lay a high quality standard.
One of the largest capital companies in Asia, in the field of pet industry.
At the workshop of “China Social Aging”, the workshop is “Chinese Society”, when everyone is thinking of the nursing homes, Zhang Lei is thinking in reverse thinking, older life needs more companionship. The expansion of the group will accelerate the development of the pet industry.
Since then, Gao Yu began the way of mad-style pet investment.
Only the three years of 2016-2018, Zhang Lei smashed at least billion dollars, cast more than 100 pet companies, which can be called “crazy.”
In 2016, Gao Yu acquired German pet brand Junbao Gimborn, which was mainly engaged in cat sand, pet food, official entry.
In 2017, Higher and Squiked Capital contracted $ 233 million, investing in a company called VET First Choice, and its main business is to provide online pharmacies and home delivery services for veterinarians.
According to relevant industry data, my country’s 2020 pet medical (medical model) market has reached 53.277 billion yuan, an increase of 38.5% over 2019.
In the same year, Gao Yu also set up a special fund for pet investment, and has invested three overseas pet brands.
Zhang Lei has said that investment VET First Choice is mainly in order to carry out international business, but the most important market is still in China.
IT orange data shows that the equity of high-hit is 100% for most pet hospitals, and others are all over 50% of the bin. Among them, more than 80% are pet hospitals, including pets, Barbecang (cloud pet), Anan pet, naughty family, Aino, pet, Naja, Ebell, Le Wum, Ruipeng Group, etc.
The high is so deeply involved in the asset integration of the pet medical industry.
According to the petwater 2018 statistics, China has more than 17,000 pet hospitals in China. Among them, the market share of high-rise capital, Rui Peng Group and the Switch Group ranked top three.
Zhang Lei, who has always emphasized “Think Big, Think Long”, naturally turned its attention to the Rui Peng Group as the Market of the Elderly.
In August 2018, Rui Peng and Gao Yu Capital, just completed the new three board, announced a strategic cooperation. After 5 months, the “New Ruigpeng Group” formed by both parties was formally established.
After the integrated new group, there are more than 1,300 pet hospitals, and it has become the largest and large capital strength of China, and is called the pet medical “aircraft carrier”, the valuation exceeds 10 billion.
This race of track, not only shocked the entire industry, but also indicates that the pet economic boom is unstoppable.
[First advantage, obvious Macs, Standard]
The global pet industry, germination in the UK industry revolution, and entered the high-speed development during World War II.
Taking the United States as an example, its pet industry has been raised in 100-200 years, and has become the world’s largest national pet economy.
In 1994, the total amount of US pet consumption reached $ 17 billion; the total expenditure of US pet consumption reached 103.6 billion US dollars in 2020, accounting for 40% of the global market, and the penetration rate was maintained at around 67%, which was significantly higher than other countries.
As the largest pet consumer market, its main feature is that the crowd demand is strong.
Even during the 2008 financial crisis, the overall consumption expenditure of the United States declined, but the pet consumption expenditure is still rising; in 2010 in the macroeconomic performance, the US entertainment consumption fell by 7%, food consumption decreased by 8%, clothing and service consumption 1.4%, and pet consumption increased by 6.2%.
Ning Kenqin hit home, and he couldn’t suffer “small master”. The family position of pets is at a glance.
After long-term market evolution, the pet economy has become an important part of the development of the national economy of developed countries, and pets have also become a popular market consumption.
A huge and stable consumption environment created the professional industrial chain of European and American markets, forming a mature industry system for pet supplies, pet food, pet breeding, pet medical, pet training, and pet insurance and other mature industries.
Foreign channels and brand wholesalers, and therefore mastered long-term stable sales channels, they do not open the factory for production, but procurement through the global supply chain.
This kind of industrial characteristics have carses the trend of high market concentration, and the big brand is a market share of absolute advantages.
For example, the manufacture of the deceaseric rack, known as the “food industry P & G” Mac.
In 1930, the founder Frank was very satisfied with the victory of the Chocolate track.
But his son Freste is a wild business. He has made his father’s indiscriminate nose and constantly urged his father to expand, build his own supply chain, and beyond the first year of the industry as soon as possible.
But the father did not agree, and will provide a good time for chocolate materials as partners rather than competitors. In addition, the son’s style is radical, not being loved by the father, the contradiction between the two sides is getting exposed, and finally Frestt is “expels from home”.
Farstone failed in the family, but he had to stand on the door, but he accidentally took a Mac’s brand to Europe.
In 1934, Frester saw the pets at the time usually eat the leftovers of people, and the pet food has not been popular in the UK. He found the business opportunity of this track, and then bought a dog food plant called Chappel Bros.
Freidence Macse Food Company with a first-fledged advantage and rich food industry business experience, soon, with “Bao Road”, “Wei Jia”, cat dog food brand, occupied the market mind. Four years later, it became the third largest pet food manufacturer in the UK.
Frestt also borrowed new capital, in the market, wearing phenoli, and eventually retransciting the control of family Mac.
After becoming the world’s largest pet food manufacturer, Macashi also acquired the world’s third royal pet food, and acquired the fourth largest pet food in the world from P & G Company, completely consolidating the first position. .
In 2019, the Macher’s business in the Industrial Veditude was proud of the spring breeze.
According to statistics, there will be a “treasure road” and “Weijia” in the world, and there are 5-6 of 10 pets in 10 pets.
And Mac’s pet brands have expanded 50 feeds and nutrition products containing various pets, dogs, horses, fish, birds, including “Royal”, “You Card”, “Love Mus”, “CESAR” Waiting for a well-known brand.
Macs in the global market naturally will not ignore the huge Chinese market.
In 1993, Macashi Food (China) was established and the first China’s first pet food factory was established in Huairou in 1995.
The entry of the international pet food brand directly opened the prelude to the development of China’s pet industry, but it also formed a pattern of foreign brands to occupy the market head.
At present, the first domestic pet food market share is Macashi, the share reaches 25%, followed by the Royal Royal Royal and Puina (Nestlé), each accounting for approximately 21%.
From this, it is calculated that only three of the three market share of China’s pet food is high, and it is called Chinese pets.
[Domestic brand tried to bend overtaking]
Once the pet consumption is formed, its long-term, stable and high-priced demand will fully nourish a rich and complete industrial chain.
This is undoubtedly a “Qian Jing” attractive opportunity for Chinese companies and brands.
However, the wave is more like a foreign brand, and domestic companies have not truly caught the first echelon.
In 2010, my country’s pet market consumption is only 14 billion. Prior to this, China’s pet market has experienced a long start period.
In 1992, China Protection Small Animal Association was established. Since then, “protecting animals”, “animal is human friends”, etc., began to spread in society. Overseas students, also returned to China with a lifestyle with pets, and the domestic pet industry began to bud.
Entering the millennium, the population aging and the number of liveers have increased significantly.
The seventh population census data shows that my country’s 60-year-old and above population is 264 million, accounting for 18.70%, and the population of 65 years and above is 190 million.
Previously, the National Bureau of Statistics announced the preliminary prediction of the data in 2030 or will reach 150 million -2 billion people, alone, or will exceed 30%, of which 20-39 years old alone or will increase to 40 million -70 million People, the increase is approximately 1-2 times.
It can be said that the pets have become an important spiritual pin consumption object, whether for the elderly who are not often around them.
The income of resident income brought by economic growth, as well as the change in the concept of Internet dissemination, driving the development of pet consumption into the fast lane.
Data show that China’s single-pet year consumption amount has increased from 4348 yuan in 2017 to 6653 yuan in 2020, and it is expected to continue to grow. However, compared to the $ 0.52% of the $ 0.52% of the US family consumption, my country is only 0.29%, still needs to be improved.
Different from European and American developed countries, the sales channels of Shangchao, Chinese pet breeders are more inclined to buy pet supplies in e-commerce channels.
In addition to the faster development of e-commerce developers, my country’s pet market has a short history, and offline retail channels are not mature, there is a problem of layout dispersion, low market concentration.
At present, the domestic pet supplies industry is mainly composed of three types of market participants:
Have a very good marketing advantage, but it is not self-built production plant, relying on the pet brand operator of the supply chain procurement.
A large number of small and weak workshop pet products;
And health suppliers with better R & D, design, production capacity, mainly sell products to domestic and foreign brand operators, a small number of self-owned brand products, including Yiyi shares, Wuhu , Jiangsu Zhongheng Pet, etc.
This pattern is like the universal dilemma of low-end manufacturing industry, which not only leads to highly assimilation in the pet supplies industry, and the brand premium is small, and hundreds of independent brands and manufacturers have fierce competition. The domestic head enterprises only account for less than 1%. Market share.
However, in the sleep, there is still a transfer.
The pet food industry is the first segmentation industry with pet economic development, and is also the largest consumption.
Japanese pet food raises the initial period and is also controlled by foreign brands. However, with the development of Japan’s domestic brand, there are currently a pet food TOP 10 brand, 7 are Japanese domestic brands, accounting for 30.4%.
This means that the chance of the domestic brand corner overtaking in the pet food industry is large.
In particular, in the emerging pet snack market, due to the production process, the production standard is different, the threshold is low, which is significantly higher than the international giants, domestic enterprise cost advantages, and strong market competitiveness.
At present, the pet food industry has two A-share listed companies: medium pet shares and Pediti, the two companies that are the first to be listed in the pet industry.
Both are all in the overseas pet food brand, and the medium pet shares do better in their own brands, covering the two major categories of pet snacks and main grains, Patty main pet bite and other snacks.
The head pet food company that is not listed has also gained a lot of capital.宝 集 (Brand McGaddy), crazy puppies, bean chains, bubbles, etc., which have gained investment in KKR, deep venture, Fosun and other well-known investment institutions.
Among them, the mid-pet shares steadily stabilized and established a sound brand and gradually expand domestic channels.
For example, the company has established a variety of brands such as “Naughty Wanpy”, high-end Fang Fang brand “Dr.hao”, high-end pure meat brand “true pure” and other independent multi-brand matrices. This allows companies to have a place in the market of different audiences.
Online channels, the medium pet shares have established sales networks in 31 provinces and cities across the country. In order to thicken professional channel resources, the medium pet shares will be opened in November 2019, and the depth binding of Ruipeng in November 2019.
Online, the mid-pet shares are committed to strengthening the investment of the e-commerce operation team, which not only has established an e-commerce center in Hangzhou, but also added Hefei Jun Mu, intelligent cloud, and acquires Weihai powder orange. On the other hand, the company continues to increase the strategic cooperation with Alibaba, Suning and other platforms.
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Through the misplaced competition with foreign brands of monopolistic pet owners, the accurate mid-pet shares are positioned, and its performance also presents a significant continuous rise.
From 2013 to 2019, the revenue rose from RMB 1.716 billion, returned to the net profit from 016 million yuan to 0.7 billion yuan.
In market sales, domestic pet snacks have begun to show strong brand vitality.
2021 618 Tmall Pet Snack Brand Sales Rankings in front of the top ten, domestic brands occupy 8 in dogs and cat snacks each occupied 8 and 4; Jingdong sales list, the top five in the top five, domestic brands in the dogflood and cat snacks Take 4 and 2.
This data means that the domestic brand’s pet snacks have obtained the double affirmation of business performance and consumer trust.
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However, the degree of change in the zero food list is higher than that of the main food, but also the single loyalty of the pet owner for the lower level of zero food class.
In the 2020, my country’s pet food TOP 10 brand, Macashi and Nestle have two surprises, which are 11.4% and 2.2%, respectively. Other 8 brands are domestic brands, but the total market share is only 17.5%.
Although Nestlé’s shortage brand is not much, its layout is generally larger in the high-end and ultra-high ends.
In April this year, Nestlé announced that after 200 million pet food production capacity of Tianjin Factory last year, the investment was increased by 23 billion yuan. In less than a year, two investment plans were announced, with a total of more than 800 million yuan.
Its relevant person in charge explained: “The time in the epidemic last year, the global Nestlé Purina pet food is very good. China is a market with the highest growth rate in China.”
It is not difficult to foresee the high-end brand of the main pet food in Nestlé, which will be increasing to the Chinese market.
How to take the form of foreign brands to occupy the market head, take the initiative to upgrade the brand, seize the share, become a Chinese pet industry, must face and in-depth future challenges.
Reference:
[1] “The pet economy is in power, who will become the future of the king? ” Equity Research
[2] “1 year is two hundred billion, pet market broke out: Gao Yi quietly cast more than 100 companies” investment world
[3] “Pet industry special report seven: What is the performance of domestic pet food brands 618? “Equity Research
[4] “Macashi: Food Procter & Gamble Wealth Myth” 石 商业 评论
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