Beyond pet food
Opportunities arise
Just when the pet market appears to be saturated, or even declining slightly in countries such as the U.S., a new opportunity has arisen for the pet industry. The astounding rise in popularity of animals as pets around the world in NIC’s (Newly Industrialised Countries) such as China is encouraging massive industry growth. In 2016, 12% of the Chinese population is a cat owner, with 25% owning dogs. Furthermore, the mega-cities of Shanghai and Beijing are the ones accounting for the majority of that ownership. 23% of residents of Shanghai owns dogs; 11% owns cats. In Beijing, 25% are the dog owners, with a smaller but still significant 8% having pet cats.
Putting this into a world perspective, 29.9% of the total global population owns dogs, and 21.8% owns cats. China is thus fast approaching these ownership rates – a co…
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