China's Pet Industry Enters The Period of Rapid Development

Source:iResearch May 30,20198:49 AM
China's pet industry started late but it is developing at an amazing speed.The deepening of reform and opening up and the development of the economy drive the transformation and upgrading of consumption in China. China's pet industry began to rise in the 1990s. Nowadays, with the improvement of living standards, keeping pets gradually become more common and the number of pets keeps increasing.

The pet industry is a "slow track" of investment. Opportunities are concentrated in the market structure transformation related to domestic substitution. In the future, Chinese pet industry will grow stably.

Only a small share of Chinese families keep pets.In 2017, only about 17% Chinese families keep pets (all kinds of pets included). The share is 68% in the United States and 57% in Australia.
The per capita pet dog or cat in China is low.The total number of pet cats and dogs in China is 87.46 million, lower than 180 million in the United States. The per capita pet dog or cat in China is even much lower, indicating that China's pet industry has huge space for development.

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