On 21 September, the “It” Economic Forum for the New Era of the Economy, held in Chengdu, launched the “Insight of Consumption Trends in the Carpets Industry”.
"The nature of the pet economy is `emotional economy' and `lonely business'. Future winners must be those who understand deeply the relationship, use innovative products and experience the satisfaction of `emotional premiums'."
Insight of consumption trends in the pets industry, released on the spot, shows that in 2024 China ' s urban pets (cats) market was over $300 billion in size and is expected to sprint the $1.15 trillion mark in 2028. In a booming industry, young groups account for more than 60 per cent of the strength of their pets.
“The average consumption power of domestic pets in China is increasing in volatility, leading to a high rate of growth in the high price segments of the pet market, and the trend towards precision pets is accelerating.” The head of the pets industry in the pets industry noted. It noted that, at present, small aquariums, etc., are also gradually entering the public domain, with increasing online penetration.