Pet industry research: 100-billion-level blue ocean, domestic substitution is accelerating
The pet economy is booming, and the total pet market in the United States exceeds 100 billion US dollars. According to data from the American Pet Products Association (APPA), global pet market sales reached US$307.21 billion in 2021, of which the US market accounted for 40.2% of the world, reaching US$123.6 billion, ranking first in the world, far surpassing the second-ranked Brazilian market ( 5.2%). The U.S. market has grown steadily in the ten years from 2012 to 2021, with a CAGR of 9.79%, of which the growth rate in 2021 will reach 19.31%.
