Do you have a pet? It is understood that at present, the number of pet cats and dogs in my country ranks first in the world. It is estimated that China will have 248 million pet cats and dogs in 2024, far surpassing the US’s 172 million pets. This highlights the Chinese pet market Attractiveness to global pet product manufacturers. In addition, with the increase in the number of unmarried singles and the decline in the birth rate, some insiders predict that this year, the Chinese are expected to spend 20.2 billion yuan on pets, an increase of 19% from 2018. With the increase of the pet consumption industry year by year, the pet industry has become an entrepreneurial outlet. What about the future market development of the pet industry?
Population distribution of pet cat and dog owners in China
Almost half of pet cat and dog owners in Chinese cities are born in the 90s, and nearly half of pet owners in Chinese cities are born in 90s. #88% are women, and about half are single. Pets such as cats and dogs are playing an increasingly important role in people’s lives.
Pet industry market status and industry scale
Pets in China emerged in the 1990s. After the 21st century, the number of pets in my country has grown rapidly. Pets have not only entered people’s daily lives, but also enlightened the pet economy and initiated the development of related industries. Since the 10s, the pet market has gradually formed an industrial chain, from upstream products to downstream services, including pet food production bases to their breeding, medical treatment, and beauty.
In the pet industry industrial chain, it mainly includes three links: living body trading, pet food and supplies, and pet service industry. The expenditure on pet food and supplies dominates the entire pet expenditure, and the pet service industry has become more and more diverse as the pet consumer market matures.
As the center of the pet industry, pet supplies have successfully attracted a large number of entrepreneurs. There are more than 4,000 pet companies in my country. Only 10% of large and medium-sized companies have fixed assets of 10-50 million yuan. Small companies with fixed assets of less than 10 million yuan account for 90%. Most of these companies are private enterprises.
Analysis of the development prospects of China’s pet market industry
With the development of social economy and the acceleration of urbanization, the continuous improvement of people’s spiritual and material lives, the acceleration of social aging, and the emergence of objective factors such as the popularity of only-child families and DINK families, pets gradually enter ordinary people’s homes. , Became people’s leisure companion and emotional sustenance, and the pet industry was born as a result.
But at the same time, pet trading belongs to a special industry. Judging from the current situation, there are many problems such as disorderly market competition, unscientific and low-level pet breeding, a large number of pets but insufficient boutique products, non-standard pet management, and weak legal concepts of related personnel. , Which severely restricts the healthy development of the pet industry, so the supervision of the pet industry needs to be strengthened.
China’s pet market will exceed 300 billion in 2023
Statistics show that the market size of my country’s pet industry in 2017 was 134 billion yuan. The CAGR reached 38.94% in the past ten years; the US pet market in the same period was US$69.51 billion, about 3.5 times that of the Chinese market.
As of the end of 2018, the market size of my country’s pet industry has reached 170.8 billion yuan. The scale of pet consumption in 2019 may reach 20.2 billion yuan, and the average annual compound growth rate in the next five years (2019-2023) is about 13.78%. It is predicted that the market size of my country’s pet industry will exceed 300 billion yuan in 2023, reaching 321 billion yuan.
Analysis of the development status of China’s pet industry in 2020: pet owners tend to be younger
Since the end of the last century, the concept of pets has quietly emerged in China. After more than ten years of industry development, it has gradually attracted the attention of all sectors of society. At present, a series of commercial activities such as production, sales and service around pets appear on the economic stage of China as a new industry. As the number of pets increases and the consumption power of pet owners increases, the pet market in China will develop further. In 2019, the size of China’s pet market reached 202.4 billion yuan, and it is estimated that by 2023, the size of China’s pet market will reach 472.3 billion yuan.
Pet owners tend to be younger
According to the data of the “2019 China Pet Industry White Paper” released by Goumin.com, there were 61.2 million urban pet owners (dogs and cats) nationwide in 2019, an increase of 4.72 million over the previous year; in 2019, the number of urban cat owners in the country was 24.51 million People, an increase of 8.6% year-on-year, the number of dog owners was 36.69 million, an increase of 8.2% year-on-year. In 2019, 17% of all pet owners in cities and towns have pet dogs and cats at the same time. In 2019, the national penetration rate of pet (dog and cat) households in urban areas was 23%, an increase of 4% over 2018. The increase in domestic families with few children and DINK families, the accelerated aging of the population, and the increase in the number of empty-nest youths are the main reasons for the rapid increase in the number of pets kept in my country.
Data shows that the number of female pet owners is significantly higher than that of male pet owners. In 2019, the proportion of female pet owners is as high as 88.4%. In terms of caring for pets, women are also more patient and loving. In terms of age, the post-90s population has increased by 2.2% compared to the previous year, among which the post-95s accounted for 35.6%, indicating that more and more young generations are pursuing the quality of spiritual life.
From the perspective of the income status of pet owners, the proportion of pet owners in low-income groups is relatively high, indicating that pet owners are gradually becoming more popular. Pet owners with a monthly income of less than 4,000 yuan accounted for 49.6%, pet owners with a monthly income of 4,000-1,000 yuan accounted for 26.2%, and those with a monthly income of more than 10,000 yuan accounted for more than 20%. In the future, pet owners will gradually tend to have higher incomes, and pet owners have strong economic strength, which constitutes the basis for the upgrade of pet consumption.
Beishangguang’s favorite pet
From the perspective of urban distribution, the proportion of pets in first- and second-tier cities has reached 65.6%. In terms of pet grooming, pet clothing, and pet medical care, consumption acceptance in developed cities is even higher. However, with the improvement of my country’s economic level, the per capita disposable income of urban and rural residents is increasing, and the e-commerce giants have “channels sinking”, the society’s caring atmosphere for pets is becoming stronger, and the pet economy in cities below the third tier will usher in A wave of rapid growth.
From the perspective of the age distribution of pet owners in different cities, the post-90s and post-95s in the first-tier cities account for a relatively high proportion of 49.8% and 50.1%, respectively, and the pet owners in the first-tier cities are younger.
According to the data of the White Paper on China’s Pet Industry in 2019, cities with higher economic levels in the eastern coastal areas are more inclined to raise pets; in 2019, Shanghai, Beijing, and Guangzhou are still the main cities for pet raising, accounting for 19.8%, 1.0% and respectively. 6.5%, followed by capital cities with more developed economies.
Post time: Aug-14-2021