Have you contributed to the 100 billion dollar pet market?

Nowadays, keeping pets has become a part of many People’s Daily life, and the cuteness of cats and dogs attracts people to spend a lot of money. “both cats and dogs” is even teased as a sign of life winner. The number of pet owners in China rose 24 percent last year, with the annual per capita consumption of a single pet up 15 percent year-on-year, according to the 2018 white paper on China’s pet industry.

China’s pet (dog and cat) consumer market reached 170.8 billion yuan last year, up 27 percent year-on-year, according to the 2018 white paper on China’s pet industry. In the seven years from 2012 to 2018, the market size of China’s pet industry continues to expand, with an annual compound growth rate of more than 30%. The pet market continues to be hot, which has generated a lot of new demands, and some new service formats have also emerged. Take the past May Day holiday for example, because it is not convenient to travel with pets, many pet owners are reluctant to keep their pets at home. Therefore, VIP foster care service has become the choice of many pet owners.

In recent years, with China’s aging population, increasing number of only children and changes in family structure, people’s demand for pets as life partners will also become greater. The gradual increase of pet owners has also brought fire to a large number of pet-related peripheral economies. Not only that, pet owners are also quietly changing.

In today’s pet popularity, there are indeed unlimited business opportunities. At the same time, it also reflects more or less loneliness of people in today’s society. Here we also want to remind: for young gens, keep pet also need reason, should live within their means, reasonable consumption. For the old people who keep pets, as their children, should they spare more time and spend more time with their parents? Although pets are “cute”, they cannot replace human companionship.