Core Insights - The "pet economy" in China is experiencing rapid growth, with a market size projected to reach 5.928 trillion yuan in 2023, up from 97.8 billion yuan in 2015, reflecting a compound annual growth rate (CAGR) of 25.4% [1][2] - The pet economy index has increased by over 37% year-to-date as of September 24 [1] - The market is expected to reach 8.114 trillion yuan by 2025 and 11.5 trillion yuan by 2028, indicating significant growth potential [1][2] Industry Growth Dynamics - The pet industry is in a "golden decade" of high-quality development, with substantial room for growth as the current pet ownership penetration rate in China lags behind developed markets [2] - Key segments driving growth include pet staple food, medical care, and cleaning products, while emerging areas like pet insurance and elder pet care are seen as future growth opportunities [2] Policy Support - Local governments are increasingly supporting the pet economy through various policies, such as encouraging traditional industries to engage in pet product development and promoting technological innovation in the sector [3] - Specific initiatives include Wuxi's goal to exceed 3 billion yuan in pet-related industry scale by 2027 and Zhejiang's push for smart pet product manufacturing [3] Corporate Strategies - Several listed companies are actively investing in the pet sector, such as Huangshanghuang's acquisition of a 51% stake in a freeze-dried food manufacturer for 494.7 million yuan [4] - Three Squirrels has established two wholly-owned subsidiaries focused on pet food, with a registered capital of 5 million yuan for one of them [4] - Jinhe Biological has launched a pet emotional multi-modal model app, while Delisi has entered strategic partnerships for product development in the pet food sector [5]
政策支持力度加大 上市公司积极布局 “宠物经济”发展驶入快车道
Zhong Guo Zheng Quan Bao·2025-09-24 21:48