Observing news from the pet industry, a few days ago, Hugo Cross-Border released a research report on "Guide to Exporting Pet Products to Sea". According to the report, under the forecast of a compound annual growth rate of 6.1%, it is estimated that by 2027, the pet market will reach about 350 billion US dollars. Among them, pet market consumption is mainly concentrated in North America and Europe, and Asia, as an emerging market for pet consumption, is developing rapidly, and the proportion of consumption in 2020 will increase to 16.2%.

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After in-depth insight into the data of the global pet products market, the report also gives several trends in the development of pet products in the global pet market:

First, the population of pet owners is getting younger, and the process of raising pets is "anthropomorphic"

The report shows that, taking the US market as an example, millennials account for the highest proportion of pet owners, reaching 32%. In addition to the Generation Z group, the overall proportion of pet owners under the age of 40 in the US pet owners reaches 46%. At the same time, based on the trend of pet anthropomorphism, innovations in the field of pet product research and development are also emerging.

Second, the rapid growth of smart products & high-end products

The report pointed out that compared with pet food such as cat food or dog food, the pet product market of smart series (such as smart feeder, smart water dispenser, smart cat litter box, smart heating and cooling nest, etc.) has not yet been upgraded to rigid demand, and the market penetration rate Lower, new entrants to the market have the potential to break the barrier.

In addition, with the entry of luxury brands into the pet products market, high-priced pet products have gradually begun to enter the field of vision of overseas consumers.
The third is the trend of green consumption

According to the survey, nearly 60% of pet owners would avoid plastic packaging and 45% would prefer sustainable packaging. Brands may consider using recycled plastic for packaging design. In addition, investing heavily in the development of green and energy-saving pet products may also become one of the favorable measures to attract users.

Interestingly, after analyzing the data of popular pet products on Amazon.com, the report found that the category of outdoor products for cats (covering handbags, backpacks, flight cases, strollers, etc.) is the most competitive track for Chinese players.

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The data shows that Chinese sellers occupy 72 listings among the top 100 sellers of BSR products in this category. Moreover, the market life cycle of this product is long. The top 9 products have been on the shelves for more than 3 years, and the earliest time to be on the shelves was 2004. At the same time, listings that have been listed for more than 3 years account for the highest proportion in the top 100, and the sales volume in the past 30 days is close to 49,000, accounting for 58.75% of the monthly sales.

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