New "golden track" in pet market
AI media data show that the scale of China's pet market reached 221.2 billion yuan in 2019, and the market scale doubled in the five years from 2015 to 2019, with an annual compound growth rate of 20%. In 2020, China's pet market reached 295.3 billion yuan, a year-on-year increase of 33.5%; The scale is expected to be close to 600 billion in 2023.
The rise of domestic products
According to AI media consulting data, 65.5% of respondents said they were more inclined to buy domestic brand pet products. With the rise of domestic pet products, Chinese consumers have gradually changed their blind faith in foreign products and prefer domestic products with high cost performance when choosing pet products.
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