Goldman Sachs predicts that by 2030, China’s pet population will nearly double that of its young children, with over 70 million urban pets compared to less than 40 million children ages 4 and under. The decline in birth rates is attributed to a decrease in the population of women ages 20 to 35, leading younger Chinese adults to choose pets over having children. The pet food market in China is expected to reach $12 billion by 2030, with cat ownership surpassing dog ownership due to space constraints. The global trend of declining birth rates is evident in China, where the population fell for two consecutive years. Late marriages are becoming more common, with over half of the population between the ages of 25 and 29 remaining unmarried. In Japan, the pet population of about 20 million is almost four times the number of children ages 4 and under, showcasing a similar trend of declining birth rates and increasing pet ownership.
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