Chinese consumers' demand for pet supplies has been increasing, which has contributed to the growth in the scale of pet consumption and driven the increasing number of industry segments. Research data shows that in China's pet supplies market segments, pet daily necessities accounted for 38.8%, pet cleaning and care supplies accounted for 38.2%, and pet clothing travel supplies accounted for 16.9%. At this stage, in addition to meeting the basic physiological needs of pets, pet owners also pay special attention to pet cleaning and care, entertainment and dress up, etc. These new categories are becoming a new growth point for pet supplies.
Data shows that there are currently more than 24,000 pet medical-related enterprises in China. Among them, nearly 70% of the enterprises have a registered capital of less than 1 million yuan. In terms of the overall development trend, the number of enterprises related to the pet medical industry has continued to grow over the past decade, with more than 5,400 new enterprises in 2020 alone.
According to relevant data, 72.1% of consumers buy pet products from offline pet stores and 64.4% from e-commerce channels. The pet industry presents obvious characteristics of low brand concentration and high e-commerce penetration, and online channels have become the most important sales channels in the pet industry. Affected by the epidemic, pet owners are more willing to stock up on pet food and supplies during promotional periods.
Currently, the market size of China's pet medical industry is about 30 billion yuan, accounting for about 23% of the overall market share of the pet industry, second only to the pet food industry. Compared to the United States, the U.S. pet medical industry market size of more than 120 billion yuan, the pet industry accounted for 30%, China's pet medical industry, whether in the market size, or in the market share of the proportion of the U.S. There is a large gap, is still in the early stages of development of the industry, there is huge room for future development.