China's pets retail market reached 108.8 billion yuan (US$16.02 billion) in 2019 and is estimated to grow by 13.6% and reach 123.6 billion yuan (US$18.20 bn) in 2020. It will exceed 222 billion yuan (US$32.69 bn) in 2024.
The contribution of online sales will continue to grow and is estimated to reach 115.6 billion by 2024, exceeding the contribution of offline retail sales (106.8 billion in 2024).
Online will exceed offline in 2023, contributing to 50.5% of total pet retail revenues in China.
Pets food segment will maintain fast growth and reach 163 billion yuan by 2024.
Pet's supplies will contribute over 59 billion yuan by 2024.
Pet services segment will see faster growth and reach 170.8 billion yuan by 2024.
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