CCTV Finance Client: Smart Pet Products Continuously Popularize Global Market Fans

From 'feeding' to 'nurturing'
Wangxing Cat Product Upgrade
Overseas buyers gather in search of Chinese black technology
Domestic intelligent pet products leverage overseas markets
　　  
The scale of the Asian Pet Expo reaches a new high
Overseas buyers gather in search of Chinese black technology
The 28th Asian Pet Expo, which just concluded in Shanghai, attracted more than 2600 exhibitors from home and abroad, setting a new historical high in scale. Many overseas buyers came to the site to inspect China's smart pet products.
·Vietnamese buyers stated at the exhibition that with the explosion of artificial intelligence, pet product technology may need to be updated every year, and have received positive feedback from many customers regarding Chinese products in the Vietnamese market.
·On site evaluation by Indian buyers shows that Chinese products have outstanding performance in artificial intelligence technology and are in a leading position in the world. Chinese enterprises have strong innovation capabilities and can see many new products every year, which is also an important reason why they come to China specifically to search for goods.
Pet dryers are selling out!
Chinese intelligent pet products leverage overseas markets
Foreign businesses are actively looking for products to place orders, while in a pet product production workshop in Cixi, Zhejiang, the assembly line continues to run, and workers are working hard to assemble pet dryers.
After the packaging is completed, this batch of equipment will be sent directly to the United States. Recently, the overseas orders of enterprises have continued to increase, with production of several thousand units per day. In addition to the North American market, orders also cover the European, Australian, and Southeast Asian markets. In the first half of this year, the overseas sales scale of enterprises increased by over 55% year-on-year, and it is estimated that the overseas order scale for the whole year will reach about tens of millions of yuan.
Upgrading from 'feeding' to 'nurturing'
Multiple intelligent products are more refined
From pet dryers, intelligent feeders, to more AI driven pet products, "pet care" is becoming increasingly intelligent, and pet consumption is upgrading from "feeding" to "keeping good". Domestic enterprises are increasing their research and development investment to promote the transformation of intelligent pet products into "cost-effective consumer electronics".
A company in Shanghai is optimizing an intelligent food feeder. It has "eyes" that can recognize faces, and the bottom of the bowl is equipped with a weighing function. It can easily record which cat has eaten how much and whether it has suddenly lost appetite on its phone. In addition, it can also analyze and develop feeding plans, and feed according to the amount even in unmanned conditions.
·The intelligent cat litter box is equipped with a 400x optical microscope, which can preliminarily screen for abnormal indicators in feces;
·Intelligent water dispensers can monitor water quality and automatically cut off water supply in case of abnormal water quality;
·The smart collar can monitor heart rate and respiratory rate in real time.
More and more intelligent pet devices are extending towards more refined consumer demands, and behind this is the continuous increase in research and development investment by enterprises.
Export data continues to rise
Enterprises hold the initiative in bargaining
According to statistics from Ningbo Customs, the value of pet related supplies declared for export in the first half of this year reached 2.24 billion yuan, a year-on-year increase of 21.7%, indicating a significant growth trend in exports.
Cui Lili, Vice Dean of the Digital Economy Research Institute at Shanghai University of Finance and Economics, stated that Chinese companies' entry into the overseas pet market relies not only on a complete and mature domestic supply chain system, but also on the confidence of efficient collaboration throughout the entire chain, from chips, sensor modules, structural components, to whole machine assembly and intelligent software system development, as well as the advantage of bargaining power. More and more domestic enterprises are no longer relying on overseas intermediaries for goods distribution, but are bypassing multiple channels and directly connecting with overseas end consumers, thereby gaining stronger bargaining power.
The current global market size for smart pet products is in the range of 8 billion to 18 billion US dollars. By around 2030, the market size is expected to climb to 15-30 billion US dollars. If the scope is expanded to the entire pet technology ecosystem, the market size can reach 30-50 billion US dollars.
China is transforming smart pet devices from high-end high-tech products to cost-effective consumer electronics products. The hardware going global is just the beginning, and the subsequent derivative businesses such as AI algorithms, supporting apps, cloud services, and product ecosystems will also unleash greater market potential.