China Market is BOOMING!
How Many Pets?—-27,400,000 and the average number of keeping pets in cities is around 11%.
How Big is the Market?
In 2017, Chinese pet market had reached147billionRMB (20 billion euros)—-
In 2018, the market ended up to167.8billion (22 billion euros).
Within the future 3 to 5 years, the pet industry will keep the rise at more than 20%. Why?—-Rapid economy and growth.—-People’s desire for better life and comfort.—-People’s attitude towards pets have changed, more as family members.—-Population structure change (more empty nest families).—-Overall Pet Industry Development as the driving force.