Small pets big market! The pet market is a whopping 170 billion dollars!
Small pets big market! Pet market size up to 170 billion! In recent years, more and more people in China have pets, the "pet economy" continues to heat up. At present, the pet industry has formed a complete industrial chain, capital actively layout pet major industry segments, the future of China's pet industry market will further expand. So what do you think of the small pet market, the pet market size of up to 170 billion? Here I take you to go and see.
Small pets big market! The pet market size of up to 170 billion!1
Per capita annual consumption of 5016 yuan
With the improvement of the modern standard of living, the purpose of raising pets gradually from the "home guard" into "life companion", more and more people will be pets!
Ms. Lin and her family began to raise a teddy named "coco" three years ago, according to her, coco about a month and a half to eat a bag of 2kg price of about 200 yuan of dog food; 2 months with a pack of 70 yuan of urine pads; snacks will be fixed to eat goat cheese; once a month, a beauty treatment, spending 160 yuan. The cost of grooming is around 160 yuan. Ms. Lin believes that the dog does not spend much on food, and spends more on doctor visits and vaccinations. "Recently, I spent more than a thousand dollars to see the ear, and before that, coco went to the doctor with a tear in his eye and used a few hundred dollars." As an example, she cites, "Spaying and neutering costs over a thousand." As for vaccines, three immunity-boosting shots have been given, which also cost around a thousand. Although the money spent on coco in total adds up to a lot of expenses, but Ms. Lin think it is worth spending, "she is my family now."
The 90-year-old Xiaowang picked up a kitten cub from a friend who had not long been born, and it was his first time to raise a cat, for which he purchased a series of supplies such as cat food, cat litter, cat litter box, cat climbing frame, cat cage, and so on. In order to make the cat eat better, Xiao Wang watched many cat food analysis videos and read cat food research reports, and finally chose several hundred dollars a package of imported cat food. In fact, many young people are willing to spend money on their pets, especially those in first-tier cities, who are pursuing a higher quality of life themselves while hoping for a better life for their little ones.
According to the data, the proportion of families with pets in China was 17% in 20xx, 2 percentage points higher than the previous year. However, it is still far from the pet ownership ratio of over 50% in the US, Australia and Canada. According to the 20XX Pet Industry White Paper, in 20XX, the number of pet owners in Chinese cities and towns amounted to 73.55 million, and the combined number of dog and cat owners was 56.48 million,**** accounting for 76.8% of the total. There are 91.49 million dogs and cats (50.85 million dogs*** and 40.64 million cats***) in cities and towns nationwide***, with 1.5 dogs and 1.8 cats per capita. The annual per capita single pet spending of dog and cat owners was $5,016, up 15% from 20xx, with dog owners spending $5,580 per year, $1,269 ($4,311) more than pet cat owners.
In 20XX, China's pet market reached 134 billion yuan, up 9.84% year-on-year, higher than the GDP growth rate of 2.9 percentage points. According to the estimation of "20XX Pet Industry White Paper", it is expected that China's pet cat and dog market size will reach 170.8 billion yuan in 20XX (105.6 billion yuan for pet dogs and 65.2 billion yuan for pet cats). Compared with the U.S. pet market, China's market size is only 1/3 of the U.S., there is still huge room for development.
Pet listed companies in the first half of the performance growth of 17%
China's pets to keep the number of people and the amount of money spent on the rise, led to the emergence of the pet industry to grow, but also promote the development of the pet economy.
Along with the complete life cycle of a pet, a complete industrial chain has been formed within the pet industry, including a series of products and services such as breeding, training, food, medical treatment, beauty care, health care, and insurance. The industry chain can be divided into upstream pet breeding, pet food and supplies, and downstream pet medical, pet beauty, pet training, pet insurance and other services.
Comprehensively speaking, pet food and pet medical care, with its rigid demand and high frequency of use, has become the largest two sub-markets of the pet industry market size, involving the pet industry, listed companies and new three board companies are also concentrated in this.
Pet listed companies Petty shares (300673) and the pet shares (002891) are engaged in the production and sale of pet food, the first half of 20XX, the two leading companies continue to expand, the performance of high-growth trend does not change.
Petty shares and the pet shares in the first half of the combined revenue of 1.041 billion yuan, an increase of 41.26%; combined net profit of 94.52 million yuan, an increase of 17%. The two companies in the second quarter of the combined revenue of 604 million yuan, an increase of 46.7%; combined profit of 51.95 million yuan, an increase of 15.23%. Due to rising prices of chicken breast and other raw materials, the performance of the company's favorite shares to produce a greater drag on the company's performance in the first half of the year to a certain degree of decline. CITIC Securities analysts pointed out that pet food is still in the middle and early stage of the industry outbreak, in the product power, brand power, channel power to build on the continued increase in investment in the national brand, is expected to form a breakout in 2019-2020.
Specifically, Petty shares in the first half of the year to achieve revenue of 394 million yuan, an increase of 46.59%; to achieve net profit of 68.16 million yuan, an increase of 80.23%. The company realized revenue of 233 million yuan in the second quarter, net profit of 38.2 million yuan, year-on-year growth of 44.2%, 57.8%, respectively, and the chain growth of 45.2%, 27.5%, respectively. The reason for Petty's net profit to realize high growth in the first half of the year is that the gross profit margin of the three major products have increased compared with the same period, the gross profit margin of animal skin bites, plant bites and nutritious meat snacks have increased by 2.19%, 1.89% and 24% respectively. Meanwhile, plant bites realized sales revenue of RMB 160 million in the first half of 20XX, representing a year-on-year increase of 42.9%, while animal skin bites realized revenue of RMB 173 million in the first half of 20XX, representing a year-on-year increase of 16.8%. Due to the depreciation of RMB, the increase in exchange gain and the increase in interest income, the financial expenses were narrowed down, and the rate of three expenses decreased by 1.81%. Vietnam production capacity is gradually put into operation, the first half of 20XX Vietnam good chewing plant contributed net profit of 30.91 million yuan, accounting for 45.4% of the overall profit volume.
China pet shares in the first half of the revenue of 647 million yuan, an increase of 38.76%; net profit of 26.36 million yuan, a decrease of 38.63%. The company's revenue growth in the first half of the year exceeded expectations, the second quarter revenue of 371 million yuan, an increase of 48.3% year-on-year, mainly due to the company's increase in domestic channel expansion, high growth in staple food. By region, overseas revenue reached 536 million yuan, up 34.49% year-on-year. Benefiting from the domestic channel construction, the domestic revenue amounted to RMB 110 million, a year-on-year increase of 63.8%, and it is expected that the domestic portion of the revenue in the second half of the year will maintain a high growth rate. In terms of products, the revenue of pet snacks in the first half of the year amounted to RMB 530 million, representing a year-on-year growth of 38.99%. Pet staple food increased by 100.7%, with the increase mainly coming from the new Naughty Staple food launched in April. In terms of channels, the sales growth rate of online channels was significantly higher than that of offline channels. The decline in net profit was mainly due to the price increase of raw materials such as chicken breast meat in the first half of the year, with selling expenses rising by 0.83% and administrative expenses by 0.42%.
The main business of the new three board pet enterprises is more widely distributed, extending to pet supplies, pet care and other aspects. Pet supplies enterprises Yi Yi shares mainly produce pet care series products, including pet pads, pet diapers and so on. In the first half of this year, Yi Yi shares realized revenue of 442 million yuan, an increase of 26% year-on-year, but the net profit was only 630,000 yuan, down 96% year-on-year, attributed to the sharp rise in raw material prices. In July 20xx, Yi Yi began to receive IPO listing counseling. Pet food company Luce shares realized revenue of 177 million yuan in the first half of the year, with a net profit of 26.02 million yuan, up 51% year-on-year. In addition, there are pet supplies enterprises Yupai technology, Qingquan pet; pet food enterprises Huaheng shares; pet medical enterprises Tongtai biological, mainly engaged in the development and production of veterinary vaccines. In general, the volume of the new three board pet enterprises are small.
Small pets big market! The pet market size up to 170 billion!2Pet groups huge cat slaves dog slaves mostly
With the acceleration of social and economic development and urbanization, people's material life continues to improve, the pace of social aging accelerated, the popularity of the one-child family, and other objective factors, people began to seek emotional and spiritual `comfort and support, and the pet as a result of its ability to relieve human stress, the pet has the potential to help people to improve the quality of life. And pets have gradually gained popularity due to their ability to relieve human stress and their ability not to make demands on human beings.
According to the "20XX China's Pet Industry White Paper" jointly released by Bell Pet and Asia Pet Expo, in 20XX, China's urban pet-keeping population reached 73.55 million (including aquatic), of which the dog-keeping population and the cat-keeping population are the most numerous, accounting for 46.1% and 30.7%, respectively. In 20XX, China's urban pet-keeping population reached 56.48 million (including aquatics), of which dog-keeping and cat-keeping populations were the largest, accounting for 46.1% and 30.7% respectively, while the proportion of aquatic pet-keeping populations was 27.3%, reptile pet-keeping populations accounted for 19.4%, and rodent pet-keeping populations were more niche, accounting for 17.3% only. only.
Broad scale of the pet market
With the gradual popularization of the concept of pet ownership after the birth of the pet market, China's pet industry has gradually formed a scale after more than two decades of development. 2012-20xx China's pet industry market scale continues to expand. According to statistics, in 20xx China's pet industry market size reached 147 billion yuan, a year-on-year increase of 20.5%. 20XX China's pet consumer market size reached 170.8 billion. Among them, the pet dog market size of 105.6 billion yuan, pet cat market size of 65.2 billion yuan.
Pet food market size approaching 60 billion
China's pet food industry is developing rapidly, since 2012 to 20xx years pet food scale from 15.7 billion yuan to 50 billion yuan, with an annual average growth rate of 26%. By the end of 20xx, the market size of China's pet food industry was 50 billion yuan, an increase of 46.1% over the size of the same period last year, and it is expected that the market size will continue to grow at a faster rate in the future. According to the "20XX-2023 Pet Food Industry Market Outlook Research Report" released by China Business Industry Research Institute, China's pet food market is expected to reach nearly 60 billion yuan in 20XX, continuing to maintain a high rate of growth. It is expected that by 2022 China's pet food market size will further exceed 100 billion yuan.
Among them, the structure of dog food consumption is mainly dry food, snacks as a supplement, the pet dog favorite jerky, teeth grinding stick, teeth cleaning stick. Cat food is mainly dry food, wet food and snacks, pet cats favorite jerky / dried fish, catnip, fish grass.
Great potential for pet supplies
As the relationship between animals and humans becomes more and more intimate, a lot of "cat slaves" and "dog slaves" have emerged, and they are keen to buy a variety of items for their beloved pets, such as cleaning supplies/pet toys.
Specifically, the consumption structure of pet dog supplies is mainly for bath shampoo/conditioner, toys, collar traction. Pet cat consumption structure is mainly for cat litter, toys, cat claw board.
Pet supplies as the head of the pet industry, in the future has an immeasurable potential for development, with the development of living standards, material life, in the next five years, people with the rising demand for pets, which is a good preparation for the huge pet economy.
Pet medical by the capital of the hot
With more and more small pets into people's important family members, people's attention to their health is also constantly in the improvement, the country's health of pets health care expenditures are also continued to increase. The pet medical industry belongs to the downstream of the industrial chain, including disease prevention, diagnosis and treatment, pet health care, etc. It is the second largest sub-segment of the pet industry, accounting for about 23%. 20xx pet medical market size of about 33.8 billion yuan, is expected to 20XX pet health care market size approaching 40 billion yuan.