According to data submitted by the Ministry of Agriculture, Food and Rural Affairs to Rep. Kim Sun-kyo of the People Power Party, a member of the National Assembly's Agriculture, Food, Rural Affairs, Oceans and Fisheries Committee, the domestic pet food market is estimated to have grown 67.4% in five years, from $1.0648 billion in 2020 to $1.783 billion last year. Applying last year's exchange rate, that equals 2.5 trillion won.
The problem is that even as the market expands, the government lacks basic statistics. According to Kim's office, the ministry answered "no relevant data" when asked about the import share of the domestic pet food market. Kim criticized the response, saying the ministry "does not even have the basic statistics needed to assess industrial competitiveness, such as the market shares of domestic and imported products."
Trade figures show the pet food market runs a chronic deficit. Pet food imports totaled $342.5 million last year, more than double the $160.5 million in exports. The pet food trade balance has been in deficit for 11 consecutive years since 2015. Critics say the government has failed to nurture the sector as an export industry despite pouring in budget funds. Spending on turning the companion animal-related industry into an export business rose from 1.84 billion won in 2024 to 9.095 billion won last year.
"We need to properly build basic statistics and analysis of industrial competitiveness in line with the fast-growing companion animal market, and draw up a comprehensive development strategy that includes the use of domestic raw materials, R&D, product premiumization and expanded overseas sales channels," Kim said.
