[The Guru = Hong Sung-il Reporter] China’s pet economy is rapidly growing. It is expanding not only in goods and food but also in the travel sector.
According to a report released by Douyin, the most popular short-video app in China, on the 19th, the Chinese pet economy is projected to grow to a scale of $112.2 billion by 2025.
In 2023, the number of pet dogs in China was counted at 51.75 million, an increase of 1.1% from the previous year, and the number of pet cats was estimated at 69.8 million, a 6.8% increase.
As the number of pets rapidly increased, the pet-related consumer group within Douyin also increased by 92% in 2023 compared to the previous year. Pet sales revenue surged by 138% compared to last year.
As of April 2024, the number of companies related to the pet economy in China exceeded 4.1 million, increasing by more than 540,000 from January to April this year.
The growth of China’s pet economy is notable in the pet-accompanied travel product market. Airlines, accommodation businesses, and travel agencies are actively introducing pet-related products to attract consumers.
An industry insider said, “The pet market is still a blue ocean but in a state of confusion,” and added, “Clear regulations are needed to control it, as the entry standards are low.”
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