进博首开“萌宠赛道”，“它经济”成消费升级新信号

Core Insights - The pet economy, once considered a niche hobby, has evolved into a core force supporting a trillion-yuan market, closely linked to rising consumer spending and changing demands for pet-related services [1][5][8] Industry Overview - The pet industry is experiencing significant growth, with the urban pet market in China expected to exceed 300 billion yuan in 2024 and reach over 400 billion yuan by 2027 [5] - The demographic of pet owners is becoming younger and more educated, with individuals born in the 1990s and 2000s accounting for over 60% of pet owners, driving a shift towards quality over quantity in pet products [5][6] Product Innovations - The exhibition showcased various innovative products, including an automatic pet toilet by Xiaopei Technology that monitors pet health and facilitates remote interaction [2][3] - Royal Canin presented a comprehensive nutritional solution for pets throughout their life stages, emphasizing the importance of tailored nutrition [2][3] Market Trends - The pet consumption structure is shifting from basic feeding to health, intelligence, and emotional companionship, indicating a trend towards premiumization in pet products [6][7] - The rise of e-commerce, particularly through social media and live-streaming platforms, is influencing purchasing decisions among younger consumers, who prioritize brand reputation and product transparency [6][7] Economic Impact - The pet economy is seen as a significant contributor to China's high-quality economic development, reflecting changing population dynamics and emotional needs [6][8] - The annual "Double Eleven" shopping festival has become a major battleground for pet product sales, with significant growth in pre-sale amounts compared to previous years [6][8]