China's Urban Pet Spending Could Pass USD28.8 Billion This Year
Zhang Yushuo
DATE:  Aug 16 2019
/ SOURCE:  yicai
China's Urban Pet Spending Could Pass USD28.8 Billion This Year China's Urban Pet Spending Could Pass USD28.8 Billion This Year

(Yicai Global) Aug. 16 -- Urban consumer spending on cats and dogs could surge 18.5 percent to CNY202.4 billion (USD28.8 billion) this year, according to a white paper from Pet Fair Asia and pet-themed social networking site Goumin.

The number of domestic dogs and cats is set to reach about 99.2 million this year, up 7.7 million from 2018, the pair predict.

There will be about 55 million dogs making up CNY124.4 billion of the total spending, increases of 8.2 percent and 17.8 percent from last year, they added. The number of cats is on track to rise 8.6 percent to over 44 million, with consumers spending CNY78 billion on them, an annual rise of 19.6 percent.

Annual expenditure on a single pet will tally CNY5,561 (USD790) on average, up 10.9 percent from last year. Owners will spend more on dogs, about CNY6,082 throughout the year on average, compared with CNY4,755 on cats.

Most of the spending will come from Shanghai -- about CNY19.7 billion.

Editor: James Boynton

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Keywords:   Cat,Dog,Pets,Consumption