Xin Hua Wang·2025-09-30 09:57Core Insights - The pet industry is experiencing rapid growth globally, with significant market expansion and diversification in China, projected to exceed 300 billion yuan by 2024 [2][4] - Key trends in the pet industry include brandization of pet food, smart pet products, cluster development of the industry, and internationalization of domestic brands [4][5][18] Pet Food Brandization - The pet food sector is the core of the pet industry, with a continuous market expansion, evidenced by a 36% year-on-year increase in sales during the 2025 Tmall "6·18" event, reaching 7.5 billion yuan [5][7] - Domestic brands are gaining market share, with five out of the top ten online pet food sales in 2024 being local brands, indicating a shift from being OEMs for foreign brands to developing strong independent brands [7][8] Smart Pet Products - Technological advancements are reshaping pet care, leading to the emergence of smart feeding devices and health management apps, enhancing the interaction between pets and their owners [8][9] - Innovations such as smart litter boxes and AI monitoring systems are becoming prevalent, reflecting a shift towards high-value pet products [11][13] Cluster Development of the Industry - The establishment of pet industry parks is crucial for the growth and upgrading of the pet economy, with significant government investment in regional planning and construction [14][16] - Key regions like Shandong and Hebei account for nearly 70% of national pet food production, with emerging areas also accelerating their development [16][17] Internationalization of Domestic Brands - China's pet food exports have shown steady growth, particularly to Japan and South Korea, with exports doubling for certain product categories since 2015 [18][20] - Companies like Zhongchong Co. are achieving significant international sales, with overseas revenue constituting 68.33% of their total income in 2024 [20][21] High-Quality Development Challenges - The pet industry faces challenges such as reliance on low-end products, lack of core technology investment, and market disruptions from misleading information [22][24] - To achieve high-quality development, companies are encouraged to establish stricter standards than national ones and focus on product innovation and brand value [24][25]