China’s Pet Market Fetched 27% More in 2018

China’s enthusiasm for pet ownership has been unleashed like never before in recent years. In 2018, the value of the country’s pet market reached 170.8 billion yuan ($25.4 billion), up 27% from the previous year, a report from pet information provider Goumin.com said.

There were about 73.55 million pet owners in urban areas last year, according to the report.

Last year, pet owners spent an average of 5,016 yuan per pet, up 15% from 2017, the report said.

Pooches are particularly pampered. The report shows that on average about 5,580 yuan was spent on each pet dog annually, compared to 4,311 yuan on each cat.

Nearly 44% of pet dogs were bought by their owners, while 27% of them were gifted or given, according to the Goumin.com report. As for cats, about 32.6% of pet cats were picked up from the streets, and 25.3% were purchased.

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https://www.caixinglobal.com/2019-03-11/chart-of-the-day-chinas-pet-market-fetched-27-more-in-2018-101390984.html