Right now, the United States is the biggest pet supplies market, and China's pet supplies market is growing really fast.
In 2022, the US pet supplies market was worth up to $23.004 billion, making it the largest in the world, accounting for 48.33% of the global market share. The US pet market has been around for a while now, and the growth in the size of the pet supplies market has slowed down a bit. Over the past 22 years, the growth rate was 6.77%, 9.60%, 8.20% and 7.41%, with a compound growth rate of 8.40%. China's pet supplies market is the second largest in the world, with a market size of 5.345 billion U.S. dollars over the past 22 years. This accounts for 11.21% of the global market share. China's pet supplies market continues to grow at a high rate, with a growth rate that is faster than the global market.
According to Euromonitor, the growth rate of pet supplies in China from 19-22 years was 11.21%, 13.34%, 22.92% and 8.40% respectively. The compound growth rate from 19-22 years was as high as 14.73%, which is much faster than the overall global growth rate.
Overall, China's pet supplies market has seen some pretty impressive growth, much faster than the global market. The main drivers behind this include the rise in urbanisation, the growth of disposable income, changing attitudes to pet ownership and the increase in the number of pets.
China's pet supplies market has been growing at a double-digit compound rate in recent years, which shows there's a lot of potential for growth in China's market. It's made up of several segments, including pet toys, pet apparel, pet grooming and care supplies, and pet medical supplies.
Right now, the pet supplies market has a pretty low level of brand concentration. Most of the brands you see are foreign, but there are also some domestic brands. The foreign brands are mostly Mars, Nestle, Royal, and so on. The domestic brands are mainly Petty, McFady, Yi Yi, Good Treasure, and so on. In recent years, the domestic brands have been developing faster than the foreign ones, but they still have a lower market share than the older foreign brands.
The way products are sold. Right now, pet supplies are mostly sold online and offline. Online, they're sold on major e-commerce platforms. Offline, they're sold at pet hospitals. The offline channel accounts for about 60% of sales, but the online channel is growing faster and taking up a bigger piece of the pie.
1. Pet food. For more details, check out the "Pet Economic Segmentation Track Research - Pet Food" report.
2. Pet toys. The pet toys market was worth around 70 billion yuan in 2022, split between educational toys, interactive toys and consumable toys. The growth in recent years is down to the rise of intelligent toys. Pet owners love the companionship, training and other functions that these toys offer. At the same time, there's been a gradual shift towards material safety and environmental protection. Biodegradable and recyclable pet toys have become the mainstream.
3. Pet apparel. The 2022 pet apparel market size is around 25 billion yuan, split between functional and fashionable apparel. There's been a rise in demand for pet services, driven by an increased need for functional apparel. Cold-proof, sun-proof, waterproof and other functional services are becoming more and more popular. On the other hand, there's been a rise in demand for personalised customisation of apparel, with pet owners seeking out more personalised pet apparel.
Next up is pet beauty care supplies. The 2022 pet beauty care supplies market size is around 15 billion yuan, with products including bathing shampoo, hair care, combs, nail clippers and so on. In recent years, pet owners have been paying more attention to their pets' skin health. There's been a growing demand for natural ingredients and additive-free products. At the same time, there's been an increase in the number of specialised care services, pet beauty salons and door-to-door services.
5. Pet medical supplies. For more details, check out the "Pet Economic Segmentation Track Research - Pet Medical" report.
The pet economy is growing fast, and there are lots of different segments in the pet supplies market. This means there are lots of ways to compete and win customers. With so many ways to sell online and offline, it's easier than ever for ordinary people to get into this market.
However, there are a few hurdles to overcome when entering the pet supplies track, so it's important to do thorough market research before diving in. Firstly, this market isn't that concentrated, and competition is pretty fierce. But there are still a few big names in the game, both foreign and domestic. Secondly, if you're an ordinary person looking to get into the pet supplies game, you'll need to have some serious professional know-how in product research and development, production, marketing, and so on.
Before you enter the pet supplies market, you need to decide whether you want to focus on smart supplies or health supplies. Make your products stand out and build your brand power by combining online and offline methods.
To sum up, the pet supplies market is full of opportunities, but it also has its challenges. Before entering this field, it's important for ordinary people to do sufficient market research and analysis and to develop a reasonable strategic plan to improve the success rate.
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