Core Insights - The pet economy in Jiangsu is rapidly evolving from a simple consumption model to a comprehensive industry chain, driven by emotional companionship and diverse consumer needs [1][2][3] Industry Growth - The overall scale of the pet industry in Jiangsu has surpassed 50 billion yuan, with a projected growth rate of over 35% in 2024 [3][4] - Jiangsu is home to approximately 12 million pets, accounting for about 10% of the national total, indicating significant market potential [2][4] Consumer Behavior - Annual spending on pets has shifted from basic needs to more luxurious services, with average annual expenditures of around 3,000 yuan for dogs and 2,500 yuan for cats [2][3] - The trend shows a decrease in food spending while expenditures on medical care and non-essential services are on the rise, reflecting a more refined and diversified consumption pattern [2][3] Industry Structure - Jiangsu has over 300 pet product manufacturing companies, creating a robust supply chain that supports the pet industry [4][5] - The establishment of specialized pet industry parks, such as the one in Suqian, is fostering a cluster effect, enhancing production capabilities and attracting key enterprises [4][5] Innovation and Development - The pet industry is witnessing innovations in service models, such as high-end retail and community engagement, exemplified by companies like Hero Peter [3][4] - The establishment of the Suzhou Pet Industry Association marks a shift towards standardized and clustered development, aiming for high-quality growth in the sector [6][7] Market Expansion - The export of pet food from Jiangsu is projected to reach 11.28 billion yuan in 2024, with a year-on-year growth of 10.5%, highlighting the international competitiveness of the local pet industry [3][4] - The integration of pet services into tourism and leisure activities is creating new consumption scenarios, such as pet-friendly bars and parks, enhancing customer engagement [8][9] Future Outlook - Jiangsu's pet economy is expected to continue its rapid growth, with projections indicating the market could exceed 100 billion yuan by 2028, contributing significantly to the province's economic development [9]
全省宠物经济产业规模突破500亿元
Xin Hua Ri Bao·2025-08-17 23:18