With the development of modern society, pets have become increasingly important as new family members in people's hearts, and the "pet economy" has also developed from "heating up" to "booming". The Chinese pet industry has ushered in a wave of rapid development, and the core growth driving force of the industry has shifted from raising to upgrading consumption.

The TOPS Pet Expo, held from May 5th to 7th, was the first national pet industry exhibition held in Shanghai after the epidemic. 800 exhibitors and over 4000 participating brands made their appearance on site, bringing together 47628 professional visitors from all over the country and 132436 public consumers. It also brought the pet industry's long-awaited human fireworks to the city of Shanghai.

Despite the significant impact of the epidemic on fast-moving consumer goods last year, the pet race track still achieved high single digit growth. According to the 2022 China Pet Consumption Report, the size of the urban pet (dog and cat) consumption market in China in 2022 was 2706 billion yuan, an increase of 8.7% compared to 2021. Among them, staple foods, snacks, nutritional supplements and other food products are still the main consumer market for pets, with a market share of 50.7%.

The pressure from feed costs has once again brought attention to the raw milk industry. Since 2021, domestic feed prices have been continuously rising, and this year, the rise in prices of soybean meal, corn, and other products has further increased the breeding costs of upstream pastures. Even the occurrence of harvesting green wheat for feed, although on a small scale, reflects to some extent the problems in the breeding sector.

What is the market situation in the dairy farming industry? Recently, the prices of fresh milk in 10 major producing provinces have decreased year-on-year. What is the overall situation of raw milk production? Why have prices weakened recently? How to promote high-quality development of the dairy industry?

According to a survey, the current national contract purchase price for fresh milk has dropped from over 4 yuan per kilogram last year to around 3.75 yuan. After the contract expires, the purchase price of fresh milk is only about 3 yuan per kilogram, falling below the average cost line of 4 yuan per kilogram of fresh milk. The significant decline in fresh milk prices has led to losses for the entire dairy farming industry, and some have even fallen into survival difficulties.

In recent years, the development speed of the global pet industry has been astonishing, especially in emerging markets such as Southeast Asia. People's attention to pets is continuously increasing, and their market growth rate is no less than, and even some regions have surpassed other mature markets.

During the pet owner's pet raising process, pet food is the part with the highest consumption frequency and amount. On the industry side, the pet food industry is also the largest and most fiercely competitive segment of the pet industry.