Long Read: How China’s Pampered Pets Fuel a $40 Billion Market

Spending on people’s furry friends soars as young Chinese opt for puppy love over parenthood

Last year, China’s urban pet population surpassed the number of children under 4 in the country.

China’s pet economy is growing into a multibillion-dollar market as more people turn to furry companions for emotional support amid the nation’s dramatic economic and demographic changes.

Urban Chinese pet owners spent more than 300 billion yuan ($41 billion) on their cats and dogs in 2024, marking a 7.5% annual increase, according to industry data provider Petdata. This amount surpassed the size of China’s total health supplement market in 2023.