In the years since the global epidemic, "petting dogs" and "sucking cats" have gradually become an indispensable part of people's lives. Therefore, the global consumer market set off a wave of "pet economy" upsurge, a hundred billion business is rising!
The number of pet owners has been growing and covering more age groups. Among them, millennials have become the largest group of pet owners, shaking up the industry with new preferences and needs.
In addition, with the popularity of e-commerce and the launch of more and more high-quality and differentiated pet products, the pet industry has entered a stage of rapid development. It can be said that the "pet economy" will become a strong force driving global consumption.
So how big is the pet industry? What are the prospects for the future?
According to the forecast data released by iMedia Research last year, the industrial scale of China's pet economy will reach 493.6 billion yuan in 2022, a year-on-year growth of 25.2%, and the market scale is expected to reach 811.4 billion yuan in 2025.
With the increasing consumption of pet owners, their requirements for product quality, use experience and cost performance are constantly improving. Pragmatism is becoming a new consumption driver in the pet market, and the concept of humanized pet raising has begun to drive the rapid development of domestic pet enterprises/brands.
Wuxi JINMAO INC. is the leading manufacture of pet product, If you have any inquiry or new development please contact us on website or mail address: pets@wuxijinmao.com.