Page 14 - PET worldwide issue 04/2021

Markets

A rosy future is forecast
for modern pet supplies
retailing.
Pet market on the rise

A recent study reports significant growth in sales, rising pet

population figures and an increasing number of pet stores in
China’s pet supplies sector.

According to the study “White the rising income of the Chinese for pet services. The size of the
Paper on China’s Pet Consump- population has been accompa- market for pet grooming is even
tion Trends in 2021”, published nied by an increase in the num- indicated as being bigger over-
by iResearch, the market for pet ber of pet owners. all than the market for care prod-
supplies in China has grown in ucts.
the last year to approx. 38.52 bn A growing range Since the needs of pet own-
euros (around 300 bn yuan). The of services ers with regard to services for
study reports an average growth Apart from pet food and pet ac- their pets are becoming increas-
rate of 32.8 per cent for the pe- cessories, the Chinese pet sector ingly sophisticated, companies
riod from 2015 to 2020 and fore- can be categorised into groom- in China will continue to come
casts a rate of 14.2 per cent for ing, care and training, account- up with innovations in relation
the Chinese pet sector in the next ing respectively for roughly 65, to the content and form of pet
three years, predicting that the 30 and 5 per cent of the market services. The profession of pet
volume of the market will reach
57.2 bn euros (approx. 445.6 bn
yuan) by 2023. This is because

 Nanjing-based Jack Pet also  One-stop pet shops such as iPet
aims to offer a modern shopping Town in Qingdao are appearing in
experience. China.

14 PET worldwide 4|2021

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