The American Pet Products Association recently released 2018 US pet market data. Survey data show that 67% of households in the United States have pets. In 2018, the size of the United States pet market was approximately 72.6 billion U.S. dollars. In 2018, pet food consumption was approximately $ 30.32 billion, and spending is expected to increase by 4.5% in 2019. In addition, veterinary care spending exceeded $ 18 billion, the largest increase.

Compared with the mature pet market in the United States, the pet consumption market in China has only begun to develop in the past two years. The data shows that in 2017, the number of pets in China increased significantly from 96.91 million in 2010 to 168 million. The category of pets is the absolute mainstream of dogs and cats, and the proportion of pet-raising families reached 17%. Compared with 67% of household pets in the United States, China ’s pet market is still relatively small, but given the country ’s huge population base and maturing conditions for pets, China ’s pet consumption market still has a lot of room for growth.

According to incomplete statistics, in 2018, the pet industry completed about 30 financing cases, with a total amount of more than 1 billion yuan, a decrease in number compared with 2017. In the second half of 2018, from the perspective of the amount and rounds, most of the financing was in the tens of millions of yuan, mostly in the middle and late stages of the enterprise, and mainly focused on pet medical and pet supplies brands, with an estimated total amount of nearly 300 million yuan. After the investment winter of the previous year, the investment and financing of the pet consumption industry began to pick up in the first quarter of 2019. Eight financing incidents occurred in the primary market, with a financing amount of about 300 million yuan.