Pet business is forecasted to increase by 25.2% in China in 2022

October 20, 2022

Under the epidemic situation, intermittent home stay has become the norm, and pets have gradually become the adjustment of many people's home life. In Japan, due to the increasing aging and unique economic and cultural atmosphere, it is often called "lonely society" by people. In addition, the repeated epidemic situation makes the "sluggish" interpersonal activities more limited. As a result, more and more people choose to keep pets to reduce loneliness and warm life.


In fact, Japan has long been one of the few "pet countries" in Asia, among which cats and dogs are the most popular pets. According to the National Survey on Dog and Cat Feeding in 2020 by the Japanese Pet Food Association, the number of dogs and cats in Japan will reach 18.13 million in 2020 (excluding the number of stray dogs and cats), even exceeding the number of children under 15 years old in the country (15.12 million by 2020).


Although there are thousands of years of pet raising history in China, the pet industry has developed late. In recent years, with the continuous development of the national economy, the per capita income level has continued to increase, and the leisure consumption mode has become increasingly rich. The economic development has also "bred" the phased "subculture" trend. The lazy home economy and the single economy are becoming increasingly popular. Facing the fast-paced and introverted urban life, more people have begun to eliminate loneliness and sustenance by keeping pets. At the same time, the intensification of aging has also stimulated the development of the pet economy to a certain extent.


According to the data of the White Paper on China's Pet Industry in 2021, in 2021, the total number of pet dogs and cats in China's cities and towns will exceed 112 million. According to the consulting report of Ai Media, the scale of China's pet economy will nearly double in 2017-2021, approaching the 400-billion-yuan mark; It is estimated that this scale will reach 493.6 billion yuan in 2022, with a year-on-year growth of 25.2%, and will increase to 811.4 billion yuan by 2025.


According to Euromonitor data, the market size of pet food in China will reach 52.4 billion yuan in 2021, accounting for 62.2% of the market size of the pet industry. Among the top 10 pet food brands, there are as many as 7 domestic pet food brands, which are in a long-term dominant position in the market compared with time-honored pet food brands such as local brand RUIJI.


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