EVENT DOSSIER
As of September 2026, China has approximately 80 million pet owners. Previously, this group drove the development of the “pet economy,” but recently there have been significant changes in the market, with industry enthusiasm declining sharply, and the overall economic landscape is transitioning from a frenzied state to a trend of collapse.
观察宠物行业十年后，艾伦发现该行业从资本狂热走向崩塌。曾被视为“垂类电商标杆”的易宠科技及多家知名宠物品牌，如今纷纷沦为资本弃儿，融资近乎干涸。头部企业如中宠、乖宝虽营收增长但利润下滑，陷入“卖得越多，赚得越少”困境，部分公司股价年内腰斩。此前猫砂等用品因包装升级即可高价销售的时代终结，行业面临同质化内卷、获客成本飙升及研发投入不足导致的“增收不增利”困局。随着宠物消费从炫耀性社交转向情感陪伴，单只宠物年均消费增速极低，养宠人开始对伪需求祛魅。未来增长将依赖解决真实生活场景的智能化与养老等新需求，奖励属于愿意长期经营、真把宠物当家人的企业。