The Booming Chinese Pet Market During Spring Festival: Pet "New Year's Eve Dinners" and "Lucky Money Treats" Drive a Market Exceeding 300 Billion Yuan

The Booming Chinese Pet Market During Spring Festival: Pet "New Year's Eve Dinners" and "Lucky Money Treats" Drive a Market Exceeding 300 Billion YuanIn contemporary society, pets have become indispensable members of countless families, and the rise of the pet economy has spearheaded a new wave of consumer trends. Especially during the upcoming Spring Festival, the festive consumption craze has swept through the pet world, with products and services like pet "New Year's Eve dinners," "lucky money treats," and "photo shoots" gaining popularity

The Booming Chinese Pet Market During Spring Festival: Pet "New Year's Eve Dinners" and "Lucky Money Treats" Drive a Market Exceeding 300 Billion Yuan

In contemporary society, pets have become indispensable members of countless families, and the rise of the pet economy has spearheaded a new wave of consumer trends. Especially during the upcoming Spring Festival, the festive consumption craze has swept through the pet world, with products and services like pet "New Year's Eve dinners," "lucky money treats," and "photo shoots" gaining popularity. This article delves into the new trends in the Spring Festival pet consumer market and the driving forces behind the pet industry's continued expansion.

Rapid Growth of the Pet Economy and Expanding Market Size

According to the "China Pet Industry White Paper," the urban (dog and cat) consumer market size in 2024 saw a year-on-year growth of 7.5%, exceeding 300 billion yuan. The dog consumer market reached 155.7 billion yuan, with a 4.6% year-on-year increase, while the cat consumer market reached a remarkable 144.5 billion yuan, showing a substantial year-on-year growth of 10.7%. These figures powerfully demonstrate the unprecedented expansion of the pet industry, establishing it as a force to be reckoned with in the consumer market.

The booming pet industry isn't just reflected in its expanding market size, but also in the increasingly diversified consumption structure. From pet food and supplies to pet services, every segment shows strong growth. The pet food market holds a 52.8% market share, constituting the primary component of pet consumption, clearly reflecting pet owners' emphasis on and investment in pet nutrition.

Data from Tianyancha Professional Edition shows that, as of now, there are over 3.969 million existing and active pet food-related companies in China. Over 150,000 new related companies registered in 2024. The trend shows continuous growth in the number of registered pet food-related companies over the past decade, particularly reaching a new order of magnitude in 2023, jumping from approximately 555,000 in 2022 to over 127,000. Growth continues in 2024.

New Trends in Spring Festival Pet Consumption: A Blend of Ritual and Personalization

Spring Festival, China's most important traditional holiday, has always been a peak period for consumption. In recent years, with the development of the pet industry, the Spring Festival pet consumer market has also presented new styles and trends.

On one hand, the introduction of festive foods like pet "New Year's Eve dinners" and "lucky money treats" caters to pet owners' desire for festive rituals and reflects the innovation and upgrading of the pet consumer market. These festive foods are not only high-quality and beautifully packaged but also incorporate rich traditional cultural elements, allowing pets to feel the festive atmosphere.

On the other hand, pet photo shoots and sharing have become popular activities during the Spring Festival. Many pet owners will carefully dress up their pets, take festive photos, and share them on social media. This behavior not only reflects pet owners' love and responsibility but also further promotes the prosperity of the pet consumer market.

Furthermore, to meet the needs of pet owners who need to travel during the Spring Festival and cannot care for their pets, pet boarding services have emerged. Experienced and professional caregivers are responsible for the daily care, hygiene, and entertainment of boarded pets. Some companies even offer free pick-up and grooming services for members, with dedicated vehicles and personnel providing point-to-point pick-up and drop-off, ensuring "one pet per vehicle," solving the inconvenience of grooming during the Spring Festival travel period. These services combine pet services with humane care, comprehensively addressing the pets' "holiday" needs.

The Rise of Young Pet Owners Drives Industry Innovation and Upgrades

It's worth noting that with the decreasing proportion of older pet owners and the continued rise of younger pet owners, the pet consumer market is exhibiting a new landscape. Young pet owners place greater emphasis on emotional companionship and personalized needs for their pets; they are willing to invest more time and money in their pets, pursuing higher-quality living experiences. This change has driven innovation and upgrades in the pet industry and promoted the segmentation and diversification of the pet consumer market.

More and more pet brands are beginning to focus on the emotional resonance and cultural integration of their products, incorporating elements of traditional Chinese culture and creative design concepts to create uniquely appealing pet products. At the same time, the prevalence of social media platforms has provided broader space and opportunities for the dissemination and promotion of pet brands.

Continuous Growth in the Number of Pet Economy-Related Companies, with Significant Regional Differences

Tianyancha Professional Edition data shows that, as of now, there are over 4.531 million existing and active pet economy-related companies in China. Approximately 1.537 million new related companies registered in 2024. Over the past decade, the number of registered pet economy-related companies has continued to grow, with particularly significant year-on-year growth in 2023, peaking in 2024.

In terms of regional distribution, Hainan Province ranks first nationwide with over 878,000 related companies, accounting for 19.4% of the national total. This is followed by Guangdong, Zhejiang, Hubei, and Henan Provinces.

Data-Driven Industry Development: Tianyancha Aids Industry Insight

As a leading domestic business inquiry platform, Tianyancha, with its massive amount of commercial big data, can help quickly understand and analyze the upstream and downstream dynamics and trends of the pet economy and Spring Festival consumption. Through data visualization, relevant companies and personnel can quickly grasp industry information to assist decision-making.

In addition, Tianyancha also provides information on aspects such as Tianyan Risk, Business History, Judicial Cases, In-depth Risk, and Property Clues, helping the outside world to more comprehensively understand enterprises and the entire industry.

Conclusion: Huge Future Development Potential for the Pet Industry

Tianyancha Research Institute believes that the booming development and new consumption trends of the pet industry fully demonstrate the important status and role of pets in modern families. With continuous social progress and improvement in people's living standards, the pet consumer market will continue to maintain strong growth momentum, injecting new vitality and impetus into the development of the pet industry. (Zhao Hua)

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