Summary of the Pet Industry Conference Insights Industry Overview - The pet food market is experiencing a consumption upgrade, with puffed food remaining dominant while high-end products like freeze-dried and baked foods are growing rapidly. The market potential for segmented demands based on pet type, age, and functionality is significant, with a trend towards scientific and refined pet care [1][4]. Key Trends in Pet Food - High-end low-temperature baked food is becoming a flagship product, with functional and segmented auxiliary product lines expanding. Brands are focusing on health and economic aspects of pet nutrition, with a notable reduction in novelty products and an increase in functional foods tailored for specific pet needs [2][4]. - The market for pet food is seeing a shift towards higher-end products, with baked and freeze-dried foods showing the highest growth rates. The demand for pet food is increasingly segmented by type, age, and function, reflecting a trend towards scientific pet care [1][4]. Pet Snacks and Supplies Market - The pet snacks and supplies market emphasizes interactivity and anthropomorphism, with emotional spending becoming evident. Brands like Maifudi are launching products such as ice cream and pet snack cakes to meet emotional needs of pet owners [1][5]. - New channels like Douyin live streaming are significantly boosting the rise of domestic brands, attracting younger consumers and increasing their preference for local products [1][6]. Competitive Landscape - The competitive landscape in the pet industry is becoming more concentrated, with leading brands experiencing faster growth. Brands with strong supply chains and financial backing are increasing their market share, while weaker brands are exiting the market [1][8]. - In 2024, baked food saw the fastest growth, with brands like Xianlang and Fuleijiate showing remarkable performance, indicating the importance of product innovation and marketing [1][8]. Domestic Brand Performance - Domestic brands are expected to maintain over 30% growth in the coming years, with profit growth potentially outpacing revenue growth. Brands like Guobao are projected to see net profit levels rise significantly, indicating a phase of simultaneous volume and profit growth [1][9]. - If performance expectations are met, brands like Guobao, Yongtong, and Petty are likely to exceed forecasts in 2025, reflecting a positive industry trend [1][9]. Long-term Outlook - The Chinese pet food industry is expected to see the emergence of large-scale enterprises with market values exceeding 100 billion, particularly in the essential food segment. The current high industry sentiment and broad development space support this optimistic outlook [1][11].