The pet industry has great resilience, and Chinese enterprises are worth looking forward to
According to the American Pet Products Association (APPA), the total sales of the US pet market industry in 2022 exceeded $136.8 billion, a year-on-year increase of 10.8%. Among them, pet food and snack sales: the category with the highest expenditure in 2022, with a total amount of 58.1 billion US dollars, accounting for 42.5% of the industry's total sales, a year-on-year increase of 16.2%. Showing strong consumption capacity and development resilience. Looking back at the past decade, the size of the US pet industry has increased from $53.33 billion in 2012 to $123.6 billion in 2021, with a GAGR of 8.8%. Even during the 2008 financial crisis, the size increased by 4.9% year-on-year, showing a clear anti cyclical characteristic.
