A new word has emerged in the e-commerce circle: "dramatic growth", which refers to the pet industry.
This word is a bit wonderful to use on the pet track, in recent years, the global pet economy has entered a period of rapid development of expansion.
The number of pet adoptions has increased from 6% in 2020 to 14% in 2021, and the global pet market is growing at an annual rate of 10%. According to data from research firm Common Thread, the global pet market size reached $261 billion in 2022, a year-on-year increase of 125%；It will reach $350 billion by 2027.
Pet brands in the vertical field and major comprehensive e-commerce platforms are also adding weight to the pet track through a series of actions such as category development, shopping experience upgrades, and logistics service improvements.
In addition to Amazon, the largest shopping channel, Alibaba, JD.com, temu, and Walmart are not far behind, and plan to achieve growth of more than 30% in the next five years.
This article ** pet products market status, changes in consumer demographic structure, explore the trend of overseas pet sales, and help enterprises better cope with the current environment and challenges.
Europe and the United States have always been the huge engine of the pet market, accounting for more than half of the world's market size.
According to the Office for National Statistics (ONS), consumer spending on pet products has increased by 84%。In 2022, spending on pet supplies reached 98£8.6 billion, an increase of 182% compared to the survey 17 years ago.
According to a survey by the American Pet Products Association (APPA), Americans spent more than $136.8 billion on pets in 2022, a year-on-year increase of 108%, and the value is expected to reach $143.6 billion in 2023. In addition to cats and dogs, pet owners of freshwater fish and birds are also increasing.
The European and American markets are becoming increasingly saturated, and the accompanying regional distribution is gradually diversifying, especially some countries in Southeast Asia and Latin America have emerged and become more and more eye-catching.
Future Market Insight expects the Indonesian pet market to reach US$2.3 billion in 2023 and surpass US$5.8 billion in 10 years, growing at a CAGR of 95%。In another survey, 69% of pet owners owned cats in Indonesia in 2022, followed by aquariums (31%), birds (24%) and dogs (13%).
Growth is particularly pronounced in Brazil, where the pet care industry exceeded BRL 60 billion in 2022, with annual revenues increasing by 16., according to the Brazilian Pet Research Institute (IPB)**4%。In the proportion of pet ownership, pet dogs, birds, and cats are the most in demand.
The pet products market presents a new scene, and major markets are vying to display their talents and bring more vitality and opportunities to the global "IT economy".
The change in the demographic structure of pet consumption will be more significant this year, not only gradually younger, the market has begun to sink, and the aging group has also become a new blue ocean.
According to a report by APPA, millennials and Gen Z are the most pet-owning people in the United States, with a whopping 46%. They are more inclined to keep birds and small mammals, and are willing to spend more on their pets, but the cost is also their biggest pain point.
The consumption potential of the older generation of pet owners is also increasing year by year, with more than 30% of the population, and they pay more attention to the careful care of their pets and obtain a kind of spiritual companionship in their pets.
75% of pet owners will focus more on pet diet, and the demand for food will only increase; 66% of pet owners reinforce the concept of pets as family members, meaning that pets and people have the same needs in life.
In the report of BigSpy's research, the top 10 best-selling items of Amazon US pet products in the past year in 2023 are displayed:
With people's continuous pursuit of health and environmental protection, not only reflected in people, but also in demand for pet health care products.
Unmet needs are blue oceans, uncovered users are blue oceans, unradiated markets are blue oceans, and new needs, new users, and new markets are new blue oceans.
Saiying's survey found that pet owners of birds have increased significantly in the United States, Brazil, Indonesia, the Philippines and other countries.
Focusing on the poultry sub-category, in the past year, the sales of incubators and pet cages on the Saiying distribution platform accounted for more than 73%. Sales increased by 15 percent year-on-year3% and 112%。
Under the diversification of the market and population differentiation, people are no longer limited to the expenditure of pet cats and pet dogs, and with the increase in demand for bird breeding, incubators and poultry pet cages, the two main explosive products, will usher in a new wave.
- Product Recommendation:
SKU: 89421360 112 double-layered.
SKU: 86253457 96 double-layered pieces.
SKU: 31238079 56 pieces fully automatic.
SKU: 31169722 16 pieces for humidity and temperature control.
SKU: 39564957 log pet cage.
SKU: 60082799 waterproof pet cage.
- Rationale for Layout:
1.The hot sales period is mainly concentrated in January to April, and the layout timing coincides.
2.The target audience of this product is 12-45 years old male group, which is in line with the young consumer group in the market.
3.There are no incubators in the same industry and there are few styles of bird products, so the competition among sellers is relatively small, and the layout advantage is greater.
4.The platform has sufficient inventory, upgraded style functions, and can also enjoy large discounts on high-quality products.
The market scale is expanding, the consumption concept is changeable, and the product innovation is continuous, so we have insight into the consumer group and grasp the market characteristics and situation, choose the right track, live in harmony with the environment with Saiying, take off on the tuyere, and maintain vitality in the industry.
The above sharing hopes to provide some ideas and product selection references for sellers to go overseas. Finally, I wish all cross-border people a prosperous Year of the Dragon.