China's city dwellers will soon have more pets than toddlers, and there's one way investors can cash in on the trend, Goldman Sachs says

Mon, 08/05/2024 - 03:47

Visitors pushing a baby carriage carrying three dogs at the International Shanghai Flower Show in Shanghai. — China will have more than 70 million urban pets and less than 40 million children under the age of four by 2030, Goldman Sachs said in a report.
CFOTO/Future Publishing via Getty Images

Goldman Sachs says China's urban pets could outnumber the country's toddlers by 2030.
The investment bank says this could lead to a $12 billion market for pet food.
China's population has been shrinking since 2022, as more people decide not to have children.

China's baby bust could see its urban pet population outnumbering the number of toddlers by 2030, investment bank Goldman Sachs wrote in a July 28 report.