Pet Industry Operation and Consumer Market Situation in China in 2024

I. Current State of China's Pet Industry

Single Economy?Since 2013, the number of registered marriages in China has been declining year by year. In 2023, the national marriage registration figure reached 7.68 million couples, marking the first rebound in a decade. The fast-paced nature of work and life indirectly affects the proportion of singles in urban areas. Single individuals tend to place greater emotional reliance on pets, viewing them as important members of the family. The single economy has driven the rapid development and consumption upgrade of the pet market.

Silver Hair Economy?Since 1982, the population aged 65 and above in China has generally been on the rise, reaching 216.76 million in 2023. Many elderly individuals, due to the absence of their children, experience loneliness in their later years, and keeping pets can enhance their sense of happiness.

II. Core Data of China's Pet Industry

Scale and Forecast of China's Pet Economy Industry?The scale of China's pet economy industry reached 592.8 billion yuan in 2023, with a year-on-year growth of 20.1%. By 2028, the market size is expected to reach 1150 billion yuan. As people's perception of pets shifts from emotional support to family members, their spending on pets continues to increase. This trend drives consumption growth across various aspects of the pet industry, including food, supplies, medical care, and entertainment, opening up broad growth prospects for China's pet economy industry.

Ranking of Pet Brands During China's "618" Shopping Festival?During the 2024 "618" shopping festival on Tmall, the live streaming sales revenue of pet brand stores grew by more than 50% year-on-year. Over 50 livestreaming rooms generated sales of over 1 million yuan, and over 200 livestreaming rooms saw growth rates exceeding 100%. Domestic brands like Myfoodie are increasingly favored by Chinese consumers.

Scale and Forecast of China's Pet Food Industry?The scale of China's pet food industry reached 190 billion yuan in 2023. With the development of society and the growing promotion and popularization of pet ownership concepts, the pet industry, with its high growth potential, has become a blue ocean market. The characteristics of pet food, including high frequency and large consumption volume, have attracted many start-ups to enter the market, leading to a gradual increase in the market share of domestic brands and a decline in the market share of overseas brands. By 2025, the scale of China's pet food market is expected to reach 267 billion yuan.

Scale and Forecast of China's Pet Supplies Market?The scale of China's pet supplies market continues to expand, reaching 40.7 billion yuan in 2023, with a year-on-year growth of 10.3%. Under the impetus of the pet economy, various sub-sectors of pet supplies have emerged. As the research and production capabilities of pet companies continue to strengthen, various pet-specific products will drive the incremental growth of the pet supplies market. By 2025, the scale of China's pet supplies market is expected to reach 48.4 billion yuan.

Consumption Data of Intelligent Pet Supplies During China's "618"?During the "618" period in 2024, the sales of pet odor removers on the Tmall platform grew by more than 330% year-on-year, the sales of pet automatic feeders grew by more than 230%, the sales of intelligent litter boxes grew by more than 140%, and the sales of pet intelligent drying cabinets grew by more than 120%. Digitalization and intelligentization have become development trends in China's pet supplies industry. Tech giants like Xiaomi, Midea, and Haier have entered the pet supplies industry, creating new growth points for intelligent products.

III. Consumer Research in China's Pet Industry

Analysis of Consumers' Purchasing Needs for Pet Foods?Data shows that Chinese consumers primarily purchase dry food and snacks for their pets. Currently, there are many functional foods in the pet food market, with digestive function being the most frequently purchased, at 57.3%. Demands for dental cleaning, calcium supplementation, fur brightness, and skin care are similar. The purchasing habits of pet owners are undergoing a transition from basic needs to higher-level health needs, with pet owners paying more attention to pet health management.

Frequency and Amount of Pet Food Consumption by Chinese Pet Owners?Chinese pet owners mostly make pet food purchases 1-2 times or 3-4 times per month, with over 80% of consumers spending over 500 yuan per year (84.96%). As people's living standards improve and pets become increasingly important family members, pet owners are more willing to invest more money in their pets' health and quality of life. In the future, pet food consumption will maintain steady growth, and the pet food market is expected to see broader development opportunities.

Types of Pet Supplies Frequently Purchased by Chinese Consumers?The types of pet supplies frequently purchased by Chinese consumers are primarily pet grooming and hygiene products, accounting for 77.2%, followed by pet clothing and travel supplies at 50.4%. China's pet supplies market is developing in a more specialized, segmented, and quality-oriented direction, with the popularity of pet grooming and hygiene products being a significant indicator of this trend. The popularity of pet clothing and travel supplies further broadens the boundaries of the pet supplies market.

Factors Considered by Chinese Consumers When Purchasing Pet Supplies?When buying pet supplies, over 60% of consumers pay attention to functionality and quality, followed by safety and durability. Consumers are increasingly valuing the quality of life for their pets and the practical value of pet supplies, and developing pet supplies with diverse functions and outstanding quality is key to establishing a good reputation for businesses.

IV. Analysis of Trends in China's Pet Industry

Trend Towards Specialized Tracks in Pet Food Consumption, with Healthy Foods Emerging as a New Trend?As pet owners increasingly adopt scientific feeding practices, the health of pets has become a crucial factor when choosing pet food. Data shows that 57.3% of pet owners say they would buy functional pet food that promotes digestion, followed by products that help clean teeth, supplement calcium, brighten fur, and improve skin and coat. This trend is driving the pet food market towards specialization and diversification, offering more professional and personalized options to meet the health maintenance needs of pet owners, thereby optimizing the quality of life and welfare of pets.

Digitalization and Intelligence Will Become New Trends in Pet Supplies Consumption?With the continued warming of the pet economy, pet owners are increasingly concerned about the quality of life for their pets. Intelligent pet supplies, characterized by convenience, efficiency, and health, are becoming an important choice for pet owners. Data shows that during the "618" promotional period, the volume of transactions for intelligent pet products experienced substantial growth, highlighting the strong demand for intelligent pet supplies among pet owners, which will bring more development opportunities to the pet supplies industry.

(Source: iiMedia Research)