1、Azoya InternationalDecember 2023Overview of Chinese Pet Food Market in 2023Overview of Chinese Pet Food Market in 2023Azoya International Ltd.2Chinas pet economy had surged post-pandemic,fueled by the lifestyle shift caused by increased time spent at home.Primarily led by Chinese millennials and Gen

2、-Z,who are products of the One-Child Policy era,the trend reflects a preference for fur babies over traditional parenthood.According to Analysys,a tech and market analysis agency,the Chinese pet market will hit 392.7 billion yuan($55 billion)in 2023,with pet food claiming over 60%of this share.The c

3、ontinuous rise in pet households and penetration rates indicates substantial growth potential for Chinese pet food economy.Delve into this report for in-depth insights and trends in the Chinese pet food market.Changes In The Number Of Household Cats And Dogs(unit:1m)Under the continued process of ur

4、banization in China,the number of adopted cats&dogs is increasing.More young people raise pets as if they are their children for companionship.This drives the number of pet adoptions and multi-pet households.20192020202120222023E6536511971905273?Changes In The Number Of Households With Pets In China

5、(unit:1m)In 2021,due to the COVID-19 lockdown,Chinese families had more time to spend at home,which changed their living habits and rose the number of pet adoptions.By 2023 the number of households with pets was estimated to reach 105 million.20192020202120222023E598991686369980010565Penetration Rat

6、e Of Households With Pets In China20192020202120222023E13%18%14%20%22%?70%?46%The penetration rate of households with pets in China is still low compared to the USA and EU.However,China has great potential in this industry since the popularity of pet adoption is increasing.YoY of Spending on Pets Pe