Development status and prospects of pet products industry

Through the analysis of the current market situation of the pet products industry, China is one of the exporters of pet accessories. At present, the pet accessories produced are mainly exported to the United States and Northern Europe. But in the Chinese pet products industry market, foreign brand products occupy about 80% of the market share, domestic brands only account for 20% of the market share, with the rise of domestic brands and pet products industry localization, domestic enterprises have a vast market space and market potential.

According to data from the National Bureau of Statistics, in the past five years, the growth rate of per capita disposable income in China has been positively correlated with the growth rate of per capita pet expenditure, and the absolute growth rate of per capita pet expenditure has greatly outperformed" the growth rate of per capita disposable income. On the one hand, the results show that with the improvement of personal consumption capacity, residents' ability to pay for pets continues to improve, on the other hand, it also shows that with the improvement of people's living standards, some additional consumption items related to pets, such as pet grooming, pet hotels, pet training, etc., will also usher in a period of volume, which will horizontally drive the expansion of pet economy.

The current problems in the pet supplies industry

1. Trade is subject to policy risks

Domestically produced pet products are sold abroad in large quantities and are therefore subject to the risk of policy changes in the importing country. The import and export policies and regulations of various countries are increasingly updated, which will further aggravate the liability risk of manufacturers, resulting in manufacturers needing to constantly adjust the design, procurement and testing of products according to the policy, which undoubtedly increases the cost of manufacturers. In addition, trade protectionism in developed countries has risen, and if there is trade friction between pet products sales regions and China in the pet products industry, it will affect the development of the industry.

2. The pet supplies industry lacks competitiveness

At present, the pet products market is mainly the market of foreign large enterprises, which have long occupied the industry and have great brand advantages. Coupled with the backward technology of domestic pet products enterprises and the poor sales due to irregular operation and management, domestic enterprises lack competitiveness compared with foreign-funded enterprises with brands. From the pet food market to the pet toys and pet clothing markets, almost all of them are occupied by foreign brands.