宠物行业深度报告：宠物经济支出稳步提升，看好宠物服务板块

Investment Rating - The report maintains a positive outlook on the pet services sector, with an industry rating indicating a favorable investment environment [4]. Core Insights - The pet industry in China is projected to reach a market size of 479.9 billion yuan by 2030, with a compound annual growth rate (CAGR) of 7% [9][28]. - The pet consumption market in urban areas is expected to reach 300.2 billion yuan in 2024, reflecting a year-on-year growth of 7.5% [9][10]. - The growth of the pet industry is driven by factors such as GDP per capita exceeding 3,000 USD, marriage and birth rates, and an aging population [10][18]. Industry Overview - The pet industry is expected to grow at a CAGR of 6.9% from 2024 to 2030, with significant room for growth compared to overseas markets [9][28]. - The average number of pets per household in China is projected to increase from 0.25 in 2024 to 0.274 by 2030 [30]. - The average annual spending per pet is expected to rise from 2,421 yuan in 2024 to 3,434 yuan by 2030, indicating a focus on premium products and services [30]. Pet Industry Segmentation - Pet food accounts for over 52.8% of total pet consumption, with the highest growth seen in the pet medical sector, which has a CAGR of 13.9% from 2019 to 2024 [2][45]. - The breakdown of pet consumption in 2024 is as follows: pet food (52.8%), pet medical (28.0%), pet supplies (12.4%), and pet services (6.8%) [2][45]. - The pet medical sector is expected to see continued growth, with a significant increase in the number of pet hospitals, which reached 30,588 by 2024 [49]. Listed Companies and Beneficiaries - Key beneficiaries in the pet industry include: - Pet chain hospitals: Ruipubio - Pet supplies: Yiyi Co., Daqian Ecological, Tianyuan Pet - Pet food: Guobao Pet, Zhongchong Co., Petty Co., Lusi Co., Baihe Co., Yuanfei Pet [3].