Core Insights - The pet consumption market in China is rapidly expanding, with the number of urban pets (dogs and cats) expected to exceed 120 million by 2024, driven by changing consumer attitudes and increasing demand for pet-related products and services [3][4] Market Trends - Pet owners are increasingly willing to invest time and money in their pets, leading to significant growth in the pet consumption market. The top two categories in pet product sales are cat and dog food, accounting for over 65% of total sales [3] - The transaction volume for pet services has surged by 3.9 times year-on-year, with sales of daily necessities, staple food, snacks, and toys for cats and dogs all experiencing over 100% year-on-year growth [3] Consumer Behavior - There is a noticeable shift in consumer focus from merely feeding pets to enhancing their health and quality of life. While traditional puffed pet food still holds the largest market share, there is a rapid increase in sales of premium pet food options such as dried food and meat snacks [3] - Sales of pet cleaning products and pet furniture (like cabinets and climbing frames) have also seen significant increases, indicating a broader trend towards improving pet living conditions [3] Regional Insights - The highest sales of pet products are concentrated in eastern provinces, correlating strongly with the economic and social development levels of these regions. Provinces like Hainan, Shanxi, Jiangxi, and Anhui show strong potential for pet economic growth [4] Industry Challenges - Despite the booming pet economy, challenges such as a lack of standards persist. The future of the pet industry requires continuous innovation from companies, focusing on precise nutrition and health management, alongside policy support and standardization [4]

Group 1 - The core viewpoint is that the pet consumption market in China is rapidly expanding, with the number of urban pets (dogs and cats) expected to exceed 120 million by 2024, driven by changing consumer attitudes and increasing demand [1][2] - Pet owners are increasingly willing to invest time and money in their pets, leading to significant growth in the pet consumption market, particularly in pet food and services, with pet service transaction volume increasing by 3.9 times year-on-year [1][2] - There is a noticeable shift in pet food consumption from merely satisfying hunger to prioritizing quality, with sales of premium pet food products like dried pet food and meat snacks growing rapidly [1] Group 2 - The regional characteristics of pet consumption show that eastern provinces lead in pet product sales, correlating strongly with economic development levels, while provinces like Hainan, Shanxi, Jiangxi, and Anhui exhibit strong potential for pet economic growth [2] - The pet industry faces challenges such as a lack of standards, highlighting the need for continuous innovation, precise nutrition, and health management, alongside policy support and standardization for sustainable market development [2]