The pet economy has experienced a hike over all these years in Hong Kong. It is one such industry that has raised numerous opportunities for pet businesses owing to the increased number of pet adoption by its citizens. This city takes you to the lap of nature with lush greens and mountains and large outdoor areas giving a home to the big-sized dogs.
A growing industry in Hong Kong
There are more and more families who are adopting pets in Hong Kong. A study revealed that there are more than 289000 families in Hong Kong who have pets in their homes according to the data gathered in 2015. Not only do they own pets for namesake to get a munchkin at home, but they use all their means to bestow their pets with proper care.
These furry pets are no less than spoiled brats who are treated with all the luxuries and extravagance. Owing to this approach, many pet stores are being opened in Hong Kong, which provides all kinds of pet supplies ranging from pet food to pet products on a wide scale. The real reason behind the strengthening of the pet industry in Hong Kong is explained below:
Demographical changes
Hong Kong has faced a decline in the birth rate over quite a few years now, and as a resultant people are opting for late marriage which has bought a demographical change in the city.
There are many people who welcome four-legged pets as their companions standing as the main behind the hike in the pet economy. Also, the city is a home to many elderly people which influences them to take a turn towards these innocent pets to spend their day with to kill their loneliness. Thus, you can very well understand more and more people are opting for pets which are causing a bang in the pet industry.
A changed approach towards raising pets
If you visit a home with pets in Hong Kong, then you will hardly find people who keep their dogs as dogs. Yes, you have heard it right, the pet owners treat their dogs as if they are just another housemate and you can easily figure it out by the love and care that they bestow on their furry friends.
They also take care of their grooming needs, wellness, and beauty of their furry friends. This kind of a viewpoint of pet parents has welcomed pet industries with open hands that are able to cater to their pet requisites.
Various kinds of pet services
There are various kinds of pet services that have emerged over the years, which are facilitating the busy pet owners by their pet services. So even a busy person who couldn’t afford to devote time for their pets are getting pets due to pet services that they can avail, causing aggravation in the pet industry.
For instance, the Legislative Council reported that, in 2016, 510600 domestic pets and 861 vet surgeons were registered in Hong Kong. Numbers are increasing since 15 years now.
Pet parents spending in Hong Kong
Pets hold special importance in the life of pet owners in Hong Kong. They treat their pets just like any other human companion, and they never step back from spending on their pets.
We are not just talking about the millennial who can afford to do the same, but every pet owner tries their own tit and bit to provide their pets with the best they can.
You can make it out by having a look at the growing pet industry in the city, which is spreading its root day by day. According to Statista , it is believed that the pet food segment in Hong Kong is on the verge of achieving growth by 5.9 % between the years 2018 to 2021.
Also, there are new types of pet service businesses that are creeping up with the passage of days to facilitate the pet parents with all the care and attention that they need for their pets.
Pet shops and stores have shown up a notable expansion in their business, opening up new retail chains and have also gone up to the extent of using omni channels to build their customer base. And, with more and more people adopting pets each day, this industry is undoubtedly going to experience a boom in the coming days.