WePet International Holdings Limited (“WePet” or the “Group”), a subsidiary of Suga International Holdings Limited (“SUGA”), has participated in Pet Fair Asia for the third consecutive year. During the event, WePet’s new pet food brand “TeenyTiny” (小小寵糧) was introduced to pet lovers in Mainland China. The new brand is aimed at grasping the enormous opportunities in the middle segment of the pet food and accessories market of Mainland China by taking a holistic approach.

 

According to data from the 2019 Chinese Pet Industry White Paper, issued recently at Pet Fair Asia, the size of the pet products market in urban regions of Mainland China exceeded RMB200 billion in 2019, representing growth of 18.5% when compared with 2018. Such growth is expected to continue at a CAGR of over 20%, and the market size is expected to reach RMB472.3 billion by 2023.

 

In view of such enormous market potential, WePet has not only introduced its own Brabanconne premium brand, which features overseas produced pet food products, but has also launched “TEENYTINY” pet food products. Such products are made in Mainland China, offer high transparency and comply with strict food requirements, hence they represent healthy and safe options for pet owners in the middle-range market segment. With regard to transparency, “TEENYTINY” discloses all of the ingredients used, so its formulas are fully transparent. In terms of nutrition, its pet food is free from chemical additives and attractants, and complies with European and US nutritional requirements. As for safety, the products have relevant liability insurance, and have passed regular food safety tests conducted by the Group’s laboratory at the Food Safety and Technology Research Centre of The Hong Kong Polytechnic University. This ensures that “TEENYTINY” meets the food safety standards for humans, stretching from raw material to production, so that consumers have greater peace of mind. The samples of “TEENYTINY” launched during Pet Fair Asia were well received. Such products will be officially launched nationwide in October.

 

Mr. Anthony Ng, CEO of WePet, said, “In light of increasing concerns about pet food safety as well as a more sophisticated trend towards raising pets, the market has greater needs for mid to high-end pet products. As such, we have actively mapped out our approach to penetrate the domestic market, including expanding our product series to suit consumers from different social backgrounds. We have also enhanced marketing and promotions to strengthen our brand name so that more pet owners can access quality products for their pets.”