Page 15 - PET worldwide issue 2/2021

the social status attached to per cent are first-time pet owners mand for pet medicine is also up,
owning a pet. whose consumption habits are covering 52 per cent of the pet
In the report, China’s pet care evolving. This gives rise to market medical industry in 2019, reveals
industry was valued at 32 bn dol- opportunities. another Smartkarma report, “In-
lars in 2019, compared with neg- Niches with potential in the sights into China’s pet medical
ligible levels nine years earlier. pet food segment include afford- industry”.
Pet food contributed 19 bn dol- able products that would enjoy “With the increasing number
lars, health care accounted for support from a younger demo- of pet owners, the market size of
6 bn dollars, pet supplies made graphic, the report states. This pet medicines has also grown
up 4.5 bn dollars, and other ser- generation is more open to trying steadily. Overall, the industry’s
vices, 2.5 bn dollars. The up- new brands, premium products development is still in the early
surge has been attributed to ur- currently entering the market via stage and has great space for fu-
banisation, rising income, and imports through e-commerce ture growth,” says Xinyao (Criss)
an easing of rules. There are 55 platforms, and natural products. Wang, author of the second re-
mio pet dogs and 44 mio pet Products that make pet-sit- port. Dog fashion shows, such as this
cats in the country, although ting easier – such as smart food Devi Subhakesan says in her one at Pet Fair Asia, are popular
some cities ban keeping canines and water dispensers – luxury report that players able to design with the public.
that are taller than 35 cm. pet accessories, and branded products at the right price can
grooming products also have a gain a following in China. “We
Many first-time pet owners place. “During the pandemic-led believe the industry’s acceler-
The industry is nascent, having year, pet-related content surged ated growth phase offers win-
been impeded in past decades by on social media. Hence it was dows of opportunity for poten-
a rabies scare and the view that important to get pets to look tial entrants to foray,” she con-
owning pets was an indulgence. camera-ready, helped by myr- cludes.
Among those who keep animal iad grooming products and ac- n
companions in the country, 80 cessories,” the report notes. De-

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