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Market analysis of pet products in China

2018-10-19 Hits:4193
Like other industries, the increase in disposable income of mainland residents is an important factor

Transformation of pet lovers
Like other industries, the increase in disposable income of mainland residents is an important factor contributing to the growth of consumption in the pet toy sector, where the typical pet owner currently spends about 690 yuan a year. In addition, this area has also benefited significantly from the transformation of the pet population, which has become younger and younger in recent years. Most of the cats and dogs used to be fed on the mainland are elderly, but the number of young pet owners is increasing, and most pet owners are under the age of 40. Students and civilian workers became the mainstream of pet care, and housewives and women accounted for 70.4% of pet owners. In terms of geography, the more economically developed areas tend to be more concentrated.
Offline and online suppliers
Generally speaking, most wholesalers offer fewer types of toys, almost all for cats or dogs. In addition, these toys are mainly concentrated in the low-end market, generally made of inferior rubber or cloth, selling at less than 10 yuan. In fact, only two of the 53 suppliers in the pear garden wholesale market provide high-end pet toys.
Given the limited options offered by most traditional retailers, it is not surprising that online shopping is booming. It is noteworthy that in mainland China, consumption generated through mobile commerce platforms is extremely active, which may coincide with the outdoor lifestyle of many pet product wholesalers.
Compared with traditional retailers, e-commerce platform covers a wider geographic scope. That is to say, in specific areas, consumers have more choices.
Opportunities and challenges
Although the number of pets in the mainland and the corresponding market size are growing rapidly, the pet toy industry is still in its infancy. The entire pet toy industry is facing many challenges, especially in terms of product innovation.
The mainland pet toy industry is characterized by mass production and low value-added production, with little or no innovation. It can be said that there are few pet toys with a contemporary sense of design, and no domestic brand on the market can really start to establish their own prestige and popularity.
Most of the toys produced in mainland China are exported overseas. But few pet toys are packaged in Chinese, and almost all are labeled in English, Korean or Japanese. And because pet toys produced in mainland China do not need to comply with any industry product standards, resulting in many products on the market as a whole are not high quality.
According to 16-year survey data, pet toys are the second most profitable of the four categories of pet products (food, supplies, medical and toys) and still have growth potential. Therefore, the regulatory and innovation departments will emerge at the right time and seize the draught.

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