Page 24 - PET worldwide issue 03/2021
P. 24
Markets
A pet market on the rise
According to data from the Elephant Research Institute, the
Chinese pet market size has doubled in five years from 2015
to 2019, with a compound annual growth rate of 20 per cent.
According to the latest research
data, China’s pet market reached The Chinese pet market
a value of 221.2 bn yuan (approx. (in bn euros)
28.54 bn euros as of 15 June 38.15
2021) in 2019, increasing to
295.3 bn yuan (approx. 38.1 bn 28.54
euros) in 2020. In terms of the 23.0
number of pets, the total num-
ber of cats and dogs in cities 15.76 17.31
and towns across the country 12.64
in 2019 reached approximately
99.15 mio, rising by approxi-
mately 7.66 mio compared with 2015 2016 2017 2018 2019 2020
2018.
Source: CIPS
The research indicated that
pet parents were mostly in first-
and second-tier cities in 2020.
Among them, first-tier cities ac-
counted for 30.4 per cent, and
second-tier cities accounted
for 30.4 per cent, both of which
are the main sources of pet con-
sumption. Third- and fourth-tier
cities accounted for a relatively
small proportion of 15.4 per cent.
At the same time, cities also had
a high growth rate of pet sup-
plies consumption, indicating
that people are no longer satis-
fied with basic consumption, but
are paying more and more atten-
tion to quality of life.
With the increase in pet owners in
China, the pet economy will also
further expand.
24 PET worldwide 3|2021
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