Core Insights - The Chinese pet economy is projected to reach 1.15 trillion yuan by 2028, driven by emotional consumption and innovative pet products [1][5] - The pet ownership demographic is shifting, with younger generations (post-90s and post-00s) making up 66.8% of pet owners, indicating a significant change in consumer behavior and spending patterns [3][5] Market Size and Growth - The pet market for dogs and cats is expected to exceed 300 billion yuan in 2024, with a year-on-year growth of 7.5% [3] - The cat consumption market is growing at a rate of 10.7%, significantly outpacing the dog market's growth of 4.6% [3] Consumer Behavior - Younger pet owners are willing to spend more on their pets than on themselves, with monthly expenses averaging around 500 yuan for cat owners [2] - The average annual cost of pet ownership exceeds 10,000 yuan, with significant spending on grooming and food [2] Industry Trends - The pet economy is evolving from a focus on basic needs to emotional companionship and quality of life, with new service demands emerging [4][5] - High-end pet services, such as luxury hotels and on-demand care, are in high demand, reflecting a shift towards premium offerings [4][5] Product and Service Innovations - There is a notable increase in demand for functional pet food and smart pet products, with growth rates exceeding 100% in certain categories [4][6] - The market is seeing a rise in niche brands that cater to specific consumer needs, moving away from traditional mass-market approaches [5] Future Outlook - The pet economy is expected to grow by 18.3% in 2024, with cross-industry collaborations in areas like tourism and health projected to drive further growth [5] - The trend towards sustainable and eco-friendly products is gaining traction, with biodegradable cat litter and environmentally friendly toys becoming popular [5]
“它经济”崛起冲刺万亿规模 年轻群体驱动从“喂饱”到“宠好”变革
Zheng Quan Shi Bao Wang·2025-09-29 11:18