Core Viewpoint - The pet economy in China is rapidly evolving, transforming pets from mere companions to family members, leading to significant market growth and investment opportunities in various sectors [5][6][8]. Industry Overview - The pet economy in China has seen a shift from strict regulations in the 1980s to a more supportive environment post-2000, allowing for increased pet ownership and market growth [8][10]. - The number of pets in urban areas is projected to exceed 120 million by the end of 2024, with the pet consumption market expected to reach 300.2 billion yuan, reflecting a year-on-year growth of 7.5% [13][14]. Company Insights - Youpai Technology, which started as an OEM for pet products, has shifted focus to its own brands, with pet diapers and related products accounting for nearly 74% of its revenue by August 2024 [5][10][14]. - The company has seen its overseas revenue increase from 46.69% to 62.51% over three years, indicating a strong reliance on international markets for growth [14]. - Domestic brands like Guobao Pet have begun to capture market share from established foreign brands, with Guobao achieving a revenue of 5.245 billion yuan in 2024, a 21.2% increase year-on-year [16][17]. Market Dynamics - The pet food market is projected to reach 158.5 billion yuan in 2024, making up 52.8% of the overall pet economy, with a notable shift towards domestic brands offering competitive pricing [16][20]. - The pet medical sector is also gaining traction, with companies like Pulaike reporting high profit margins on pet pharmaceuticals, indicating a lucrative opportunity in this segment [20][21]. Competitive Landscape - Despite the growth potential, the Chinese pet market lacks a dominant "national brand," with local companies still in the early stages of brand establishment compared to global giants like Mars and Nestlé [22][23]. - The market is characterized by a mix of established players and new entrants from various industries, including pharmaceuticals and electronics, indicating a trend of cross-industry investment in the pet sector [24]. Future Trends - The rise of smart pet products and innovative solutions is reshaping consumer expectations, with companies leveraging technology to create new market demands [24].

中国宠物市场的"大"毋庸置疑，但"散"的问题同样突出，可谓有龙头企业，却尚未诞生能扛起"国民品牌"大旗的巨头。 "生活破破烂烂，小狗小猫缝缝补补。"在如今的国人看来，宠物的角色早已超越纯粹的玩伴，而是成为亲密的家人。 这种情感投射催生的宠物经济，正以惊人的爆发力重塑商业版图。从一袋猫粮到一根牵引绳，甚至是一包纸尿裤，再小众的赛道，也能孕育出上市公司。 近期，芜湖悠派护理用品科技股份有限公司（以下简称"悠派科技"）发布股票挂牌提示性公告，宣布公司股票于7月10日起在全国股转系统挂牌公开转 让。 悠派科技以海外代工宠物尿垫起家，后来大力发展自主品牌。招股书显示，2022年至2024年1月-8月，其营收分别为9.29亿元、9.63亿元、6.81亿元，截至 2024年前8个月，宠物纸尿裤及周边宠物护理产品已占悠派科技整体营收的近74%，是公司第一大收入来源。 嗅觉敏锐的药企、地产商、家电巨头等跨界玩家，也正循着"吸猫撸狗"的热潮蜂拥而入。近日，格力首款"宠爱"宠物净化器亮相，号称科技含量满满，除 了有高效消杀的UV灯珠矩阵、吸附甲醛的特研滤网等功能，还集成了逗猫、猫跳台等设计。 我国宠物经济的萌芽与爆发，是先有政策支 ...