A pet market on the rise

According to the latest research data, China's pet market reached a value of 221.2 bn yuan (approx. 28.54 bn euros as of 15 June 2021) in 2019, increasing to 295.3 bn yuan (approx. 38.1 bn euros) in 2020. In terms of the number of pets, the total number of cats and dogs in cities and towns across the country in 2019 reached approximately 99.15 mio, rising by approximately 7.66 mio compared with 2018.
The research indicated that pet parents were mostly in first- and second-tier cities in 2020. Among them, first-tier cities accounted for 30.4 per cent, and second-tier cities accounted for 30.4 per cent, both of which are the main sources of pet consumption. Third- and fourth-tier cities accounted for a relatively small proportion of 15.4 per cent. At the same time, cities also had a high growth rate of pet supplies consumption, indicating that people are no longer satisfied with basic consumption, but are paying more and more attention to quality of life.

Nine out of ten veterinary clinics in China operate on an area of 200 to 300 m² and are usually equipped with simple equipment. Larger veterinary clinics, which also belong to a chain, have operating areas of more than 500 m² and are considered well equipped.

In terms of turnover, 80.9 per cent of veterinary hospitals have an annual turnover of less than 3 mio yuan (approx. 0.39 mio euros). At present, pet hospitals in China are still dominated by small and medium-sized individual enterprises, and the market concentration needs to be improved.
"In the future, with the improvement of urbanisation, the increase in residents' disposable income, and the aging of the population, China's pet industry will continue to expand," is the conclusion drawn from the research data.