Key findings: **The global landscape is characterised by ‘mature, established markets in Europe and the US, and rapidly growing markets in the Asia-Pacific region’**; the underlying logic is consistent: the anthropomorphisation of pets (treating them as family members); in mature markets, competition centres on veterinary care, insurance, raw food/prescription diets and sustainability; in emerging markets, the focus is first on popularising pet food, followed by a gradual upgrade in services; whilst global market leaders exhibit high concentration, emerging markets present significant opportunities for local brands and Chinese manufacturers to expand overseas.
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> Market size reference: The global market is projected to reach approximately US$387.5 billion in 2025, representing a year-on-year increase of 6.2 per cent; it is expected to exceed US$500 billion by 2030, with a CAGR of approximately 5.3 per cent. The United States alone accounts for approximately 40.5 per cent of the global market, Europe 33.9 per cent, and China 9.7 per cent, ranking third; Europe and the US together hold 70 per cent of the market share.
