独处却不孤独：服务中国单身群体-Trend Tapestry -Alone but not lonely Serving China’s singletons

Summary of Key Points from J.P. Morgan's Research on China's "Un-loneliness" Economy Industry Overview - The report focuses on the "un-loneliness" economy in China, driven by the rise of single-person households and changing demographics, particularly among young adults and the elderly [1][4][5]. Core Insights 1. Increase in Solo Living: - As of 2020, 8.9% of the Chinese population lived alone, a significant increase from 4.4% in 2010. Single-person households now account for 25% of all households in China [4][12][17]. 2. Emerging Demand for Social Connection: - Survey data indicates that 21% and 24% of people in China experience collective and relational loneliness, respectively, highlighting a growing demand for services that foster social connections [4][22]. 3. Sector Opportunities: - Sports and Live Entertainment: The need for community is driving growth in sports participation, with amateur leagues and events gaining popularity. Anta Sports is identified as a top pick in this sector [4][56]. - Solo Travel: The rise in solo living is boosting solo travel, particularly among women, with Trip.com highlighted as a key player [4][66]. - Social Media: Platforms like Tencent, Kuaishou, and Bilibili are well-positioned to benefit from the increasing need for social interaction [4][66][78]. - Romance Narrative Games: The growth of otome games reflects a shift in how intimate connections are formed, with Netease identified as a key player in this market [4][86][92]. 4. Demographic Shifts: - Family sizes in China are shrinking, with one and two-person households becoming the most common types. The average family size decreased from 4.41 in 1982 to 2.62 in 2020 [6][8]. 5. Impact of Marriage Trends: - The number of marriages in China has fallen by over 50% from its peak in 2013, contributing to the rise of single-person households. The average age of first marriage has also increased significantly [81][82]. Additional Insights - Health Implications of Loneliness: Loneliness is linked to poor health outcomes and is recognized as a public health concern by the WHO [34]. - Community through Sports: The sports industry contributed 1.15% to China's GDP in 2023, with a notable increase in participation in running and winter sports [35][43]. - Cultural Events in Macau: Macau is positioned to benefit from the growing demand for live entertainment, hosting over 2,000 large-scale performances in 2023 [63][64]. Conclusion - The report emphasizes the potential for growth in various sectors as a response to the increasing prevalence of single-person households and the associated demand for social connection. Companies in social media, travel, entertainment, and sports are identified as key beneficiaries of this trend [5][56][66].