China's pet market is growing year by year
The whole market is improving, showing great development potential. The number of pets is about 1.67 billion and the number of cats and dogs is close to 90 million. The consumption of pet goods/services is increasing stably. According to the data of consumption, since 2010, the market size of the Chinese pet industry has increased year by year. In 2011, the pet industry market size was only 14 billion RMB. By 2017, the Chinese pet industry market reached 134 billion RMB, with an average annual compound growth rate of 38.1%.
The quantities of the pet owners are growing, reaching 59.12 million in 2017, accounting for 17%, up 2% from 2016. It is reported that after the per capita gross national product exceeds 3,000 US dollars. The number of domestic pets will be greatly improved. Many provinces and cities in China already have reached that level. While, the United States, as early as 2015, whose ownership of pets in family has reached an astonishing 65%. Given China's huge population base, the pet market has a bright future.
Among them, the annual per capita total consumption of pet products is 7374 RMB. The per capita total consumption of pet services is 3990 RMB. The annual per capita consumption of pet dogs is 6771 RMB. The annual per capita total consumption of pet cats is 5,082RMB.
From the perspective of the consumption structure of pet products in China, pet food is the main pet products. They account for the highest proportion of consumption, reaching 49.4%. Pet snacks consumption is also high, accounting for 21.8%. Besides, the proportion of consumption of pet products, pharmaceuticals, health products, and toiletries for pets was 9.1%, 8.7%, 8.0%, and 3.0%, respectively.