With the continuous improvement of material living standards, people pay more and more attention to emotional needs and seek companionship and sustenance by raising pets. With the expansion of the scale of pet raising, people's consumer demand for pet supplies(indestructible dog bed), dog toy (squeaky santa dog toy), pet food, and various pet services continues to increase, and the characteristics of diversified and personalized needs are increasingly obvious, which has led to the rapid development of the pet industry.
The global pet industry sprouted in the UK after the industrial revolution, started earlier in developed countries, and all links of the industrial chain have developed more mature. At present, the United States is the world's largest pet consumer market, and Europe and emerging Asian markets are also important pet markets.
In recent years, the size of the pet market in the United States has been expanding, and pet consumption expenditure has risen year by year at a relatively stable growth rate. According to the American Pet Products Association (APPA), about 67% of households in the United States own at least one pet. Consumer spending in the U.S. pet market reached $103.6 billion in 2020, exceeding $100 billion for the first time, an increase of 6.7% over 2019. In the decade from 2010 to 2020, the market size of the U.S. pet industry grew from $48.35 billion to $103.6 billion, a compound growth rate of 7.92%.
The size of the European pet market shows a steady growth trend, and the sales volume of pet products is expanding year by year. According to the European Pet Food Industry Federation (FEDIAF), the total consumption of the European pet market in 2020 will reach 43 billion euros, an increase of 5.65% compared to 2019; Among them, pet food sales in 2020 were 21.8 billion euros, pet supplies sales were 900 million euros, and pet services sales were 12 billion euros, which increased compared to 2019.
In recent years, the number of pet owners in China has been increasing, the number of pets has been increasing, the consumption level of people has improved to stimulate the consumption of pet toys and other factors, China's pet toys and other pet supplies industry has been developing rapidly, China's pet industry market potential is huge.
Post time: Jun-24-2023