行 业 报 告 食品饮料 2025年08月25日 行业点评 亚宠展：产品工艺持续迭代，精细化喂养大势所趋 强于大市( 维持) 相关研究报告 【平安证券】行业周报*大消费*7月社零同比3.7%， 消费子行业间分化明显*强于大市20250817 证券分析师 张晋溢 投资咨询资格编号 S1060521030001 ZHANGJINYI112@pingan.com.cn 王星云 投资咨询资格编号 S1060523100001 BVG933 wangxingyun937@pingan.com.cn 事项： 2025年8月20日，第27届亚洲宠物展在上海开幕，本届展览面积达31万平，再 创规模新高，全产业2600+展商与2万余品牌参与。 行情走势图 平安观点： 喂养拟人化，添加中式成分契合国内消费者诉求。本届亚宠展上，我们 看到伴随越来越多的消费者将宠物视为家庭成员，宠物食品成分添加也 越来越拟人化。如朗诺在亚宠展上展出的五珍主食罐添加了灵芝、当 归、牡蛎、酸枣核、雨生红球藻等五大具备中式特色的原料，在满足宠 物营养需求的同时，也满足了消费者的情绪诉求。 投资观点：我们认为从亚宠展的反馈来看，宠物行业依然维持在较高景 证 ...

Group 1 - The article highlights the significant increase in the average height of Chinese youth over the past 30 years, with male adolescents growing an average of 8 cm to reach 175.7 cm, and female adolescents growing 6.1 cm to reach 163.5 cm, making it the fastest growth rate among 200 countries and regions [1][3] - The improvement in height is attributed to better nutritional conditions resulting from economic development, shifting from merely "eating enough" to "eating well," reflecting changes in parenting philosophies and societal anxieties [1][4] - Over 80% of parents of boys hope their children will reach heights between 175-185 cm, while parents of girls aim for 160-170 cm, indicating a societal emphasis on height as a measure of success [3][22] Group 2 - The historical context of height development in China shows that past nutritional deficiencies were linked to dietary structure, with early nutritional guidelines emphasizing the importance of protein sources like eggs and milk [4][6] - The consumption of eggs in China has dramatically increased, with the country now being the largest consumer globally, consuming over 400 billion eggs annually, which translates to nearly one egg per person per day [6][8] - Milk consumption has also surged, rising from 0.4 kg per person in 1949 to an expected 41.5 kg per person by 2024, reflecting a growing awareness of its nutritional benefits [8][19] Group 3 - Modern parents are increasingly focused on scientific nutrition, often consulting experts and utilizing detailed feeding guidelines to ensure their children receive balanced diets [9][10] - The rise of nutritional supplements, including vitamins and minerals, has become more prevalent, with parents now advised to provide vitamin D from birth through old age [19][21] - There is a growing trend of parents investing in high-end nutritional products, often driven by anxiety over their children's growth and societal pressures regarding height [21][23]