China's Pet Boom: Young Adults in China Choose Dogs and Cats as Pets to Outnumber Young Children by 2030
China's urban pet population is projected to nearly double the number of children under age four by 2030. Young Chinese adults aged 23-33 make up almost half of pet owners in China and are less inclined to have children. China's declining birth rate is expected to fall due to fewer women aged 20-35. Cat ownership is forecasted to surpass dogs in China as cats require less living space. Globally, falling birth rates mean the world's population will peak this century as countries like China face population declines.
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00:00It's Benzinga, and here's what's on the block.
00:03China's urban pet population is projected to nearly double the amount of children under
00:07age 4 by 2030.
00:09Young Chinese adults aged 23 to 33 make up almost half of pet owners in China and are
00:14less inclined to have children.
00:16China's declining birth rate is expected to fall due to fewer women aged 20 to 35.
00:21Cat ownership is forecasted to surpass dogs in China as cats require less living space.
00:26Globally, falling birth rates mean the world's population will peak this century as countries
00:30like China face population declines.
00:32For all things money, visit Benzinga.com.