According to the population trends in March 2024, the total fertility rate for the first quarter of the year dropped to 0.7 for the first time. The number of births in March recorded the lowest in 43 years since the compilation of statistics in 1981.
Due to the continuous trend of low birth rates, cases of Obstetrics and Gynecology Hospitals closing down are increasing. Seongnam’s Kwak Clinic, Jeil Hospital, the very first Obstetrics and Gynecology Hospital to open its doors in Korea, and Gwangju’s Munhwa Women’s Hospital are among the hospitals that closed their doors.
In the midst of this, the number of households raising pets is increasing. It was found that the market share of dog food has exceeded twice that of baby formula and baby food this year.
According to the tally of the e-commerce company G-Market on the 2nd, the sales gap between dog food and baby formula and baby food has widened this year.
In 2021, dog food sales surpassed baby formula and baby food sales for the first time.
If the total sales of the two items are considered to be 100, the sales proportion of dog food was 48% until 2020. However, after the significant rise to 61% in 2021, the sales gap between the two items continued to widen by more than 10%. It then soared to 69% from January to May this year.
The sales of dog treats have also increased from 54% in 2020 to 61% last year. The sales of dog treats from January to May this year reached 63%, hitting a record high.
These consumption patterns make the current low birth rate situation and the increasing trend of the pet population in Korea immediately perceptible.
As compiled by the Ministry of Agriculture, Food and Rural Affairs, the number of registered pet dogs nationwide increased significantly by 44.6% from 2.1 million in 2019 to 3 million in 2022.
In addition, in December 2023, the sales of pet strollers surpassed the sales of baby strollers for the first time.
When calculating the total sales of pet strollers and baby strollers as 100, the sales of pet strollers increased from 33% in 2021 to 36% in 2022 and surged to 57% in the first to third quarter of this year.
On the contrary, the sales of baby strollers dropped from 67% in 2021 to 64% in 2023, and to 43% this year.
Comments0