From CNBC, August 7L
- China’s urban pet population is set to hit over 70 million by the end of the decade, while the number of children under the age of four will dwindle to less than 40 million, a Goldman Sachs report showed.
- In 2017, the situation was just the opposite — there were 90 million children aged under four, compared to the urban pet population of around 40 million.
- The report also forecasts China’s cat ownership will surpass that of dogs as the former tend to require less space to raise.
China’s pet population will be close to double that of its young children by 2030 as young Chinese remain unwilling to start new families, Goldman Sachs said in a recent note.
The country’s urban pet population is set to hit over 70 million by the end of the decade, while the number of children four and under will dwindle to less than 40 million, according to Goldman Sachs research that cited data from the National Bureau of Statistics.
In 2017, the situation was just the opposite — there were 90 million children aged four and under, compared to the urban pet population of around 40 million.
“We expect to see stronger momentum in pet ownership amid a relatively weaker birth rate outlook and higher incremental household pet penetration from the younger generation,” the investment bank’s equity analyst Valerie Zhou wrote. ...
....MUCH MORE
Long cat furniture and adult diapers, short kid furniture and diapers? Easy enough.
