Storyline: China's pet food market unleashes huge potential [Voice_over] As pet ownership in China continues to grow, so does the country’s pet food market, fueled by devoted owners splurging on premium nutrition for their furry friends. According to the Asia Pet Research Institute, China was home to 187 million pet dogs and cats last year, driving the total pet market value to over 42 billion U.S. dollars. Most pet parents in China say food represents a substantial portion of their total expenditures. [Sound_bite] Pet owner in Beijing: "We often buy things like clothes and treats for our dog. But the main thing is dog food, which we're very particular about. We focus on the composition, making sure it has a high meat content and checking the ratio of vegetables." [Voice_over] With such an expanding market, more Chinese companies are getting into the pet-food industry. Staff at this pet product store in Beijing say domestic brands are becoming more popular, known for their product diversity and economic prices. [Sound_bite] Yu Na, staff member, pet product store in Beijing: "Domestic brands are formulated with nutritional components, like the calcium-to-phosphorus ratio, that are better suited for the Chinese market. The packaging, the variety of flavors, and the selection of meats are all more diverse than imported options. The meats are richer and more varied, giving consumers more choice." [Voice_over] Projections from online market data company Statista show that revenue in China’s pet food market will reach 9 billion U.S. dollars this year, with the market expected to grow by over 9 percent annually through 2030. [Restrictions : No access Chinese mainland]