2024 China Pet Industry Comprehensive Analysis

1. Market Overview

• Market Size: In 2024, the Chinese pet industry is expected to reach ¥345.3 billion, with pet food contributing the largest share of ¥166.8 billion (48%), followed by veterinary services, pet supplies, and other services.
• Annual Growth Rate: From 2018 to 2024, the industry’s compound annual growth rate (CAGR) is approximately 10.2%, indicating continued market expansion.

2. Segmented Data Analysis

Pet Food

• Growth: From 2018 to 2024, the pet food production CAGR is 11.4%.
• Market Structure:
  • Dry food accounts for 60% of the market, while wet food and snacks are gradually increasing, especially functional foods.
  • There is a strong demand for mid-to-high-end products, with consumers increasingly focused on safety, functionality, and premium quality.
• Exports: Exports to Southeast Asia and the US/EU have increased, with imported products mainly consisting of high-end brands.

Pet Supplies

• Popular Products: Cat litter (38%) and smart devices (such as automatic feeders).
• Innovations: AI and IoT are driving the development of smart devices, with health and environmental sustainability as key trends.
• Market Size: The pet supplies market is expected to reach ¥71.2 billion in 2024, with growth driven by new care products and smart technologies.
• Challenges: The market faces a large variety of products, oversupply, and a lack of innovation.

Pet Medical Services

• Market Size: The pet medical sector is expected to reach ¥60 billion, including specialized treatment and online consultation services.
• Future Directions: AI-driven diagnostics, genetic testing, and personalized health plans.
• Consumer Preferences: The younger pet-owning generation is more focused on preventive healthcare, which drives the growth of pet insurance and health check-up services.

3. Industry Trends and Challenges

• Changing Consumer Demands:
  • Growing focus on product health and sustainability.
  • A shift toward small packaging, personalized, and innovative products.
• Industry Chain Development:
  • Accelerated integration across the supply chain, leading to more concentration among large brands.
  • Cross-border e-commerce is helping local brands globalize, but there is increased competition with overseas premium brands.
• Regional Distribution:
  • Tier-1 and Tier-2 cities remain the core markets, but growth is significant in Tier-3 and Tier-4 cities.

4. Strategic Recommendations

• Innovation-Driven: Focus on developing functional foods and smart pet products.
• Global Expansion: Start by targeting Southeast Asia, with gradual expansion into European and American markets.
• Brand Differentiation: Deepen consumer psychological insights, and enhance user education and experiential marketing.

The Chinese pet industry is entering a phase of comprehensive integration and upgrading. Businesses must capitalize on innovation and consumer trends to meet increasingly complex market demands and global competition.

Cite：iResearch