China under Mao Zedong considers owning pets as a "bourgeois hobby" and some Westerners think that Asians, specifically the Chinese, consumes "pet" meat including cats and dogs. The pet industry in the country as seen now is no longer a symbol of stereotypes but a profitable investment.
Cat bars emerging fast across the nations is a good example of the interest of China in pets. The pet industry in the country also benefits from the influence of KOL marketing since the younger generation follows the trends brought by celebrities who show that they are proud of their animals. The latest trend in China increased the number of pets to not less than 150 million throughout the whole nation. Dogs lead as the most preferred pet of the Chinese people.
According to the report of the Euromonitor, Chinese pet owners are expected to spend around $7 billion by 2020 which result in a steady growth in the market by 20 percent. Pet caring is the latest industry that might conquer China's large market.
The industry is still developing and it is very promising in the future. The success of the industry might be guaranteed by several factors that include the emergence of the middle class, enrichment of the younger generation, the lifestyle of young workers, the stress of city life, the aging of the population, and government support.
As China's economy develops more and more of its people joins the middle class. According to predictions more than third of the country's population will fit in the level and, since this category can afford a standard way of living, they can afford to care for pets as one of the members of their family.
The younger generations of China are richer than the previous and most of the dreams of getting a pet when they became financially independent and stable. According to statistics, 73 percent of pet owners in the country have ages between 20-35 years old and they usually find pets a way to fill their loneliness being single. The stress level in urban cities also increases the possibility of caring for a pet since some find it stress relieving to own one. The aging population helps also in the success of the industry since studies have shown that more and more seniors are choosing to buy a pet for a more enjoyable retirement. The Chinese government also contributes a lot to the industry after laws on pet owning have been improved and changed.