The Development of Pet Supply Market in China

Nowadays, new types of consumption and fine goods are grabbing the eyes of customers and encouraging them to pay large sums. Household pets are one of them.

In 2021, 68.44 million people raised pet in China, an increase of 8.7% over 2020. The scale of pet consumption market is as high as 249 billion RMB. In 2022, the scale of pet supply industry in China is estimated to reach 493.6 billion RMB, a year-on-year increase of 25.2%. It is estimated that the market size will reach 811.4 billion RMB in 2025.

So it is clear that the scale of the pet market is growing day by day.

Although China's pet market is only 28.03% of the U.S. market in 2021, the growth rate is three times that of the U.S. Although the percentage of people raising pets in developed countries is higher, the market is almost mature and develops slowly. China's pet market still has unlimited room for growth.

In this case, Koeda follow the trend and focus on the pet care products industry.

These years Koeda's company invested a lot in R&D of pet care products like pet feeder, pet water fountain and pet hair dryer, so in the coming days there will be more and more new models for pet care.