Future Development Forecast of Pet Industry Based on Gray Prediction and Wavelet Neural Network Model

This study focuses on the development of China’s pet industry and its related sectors, providing an in-depth analysis and projections for its future growth. Using a gray prediction model, the paper forecasts that the market size of China’s pet industry will grow from RMB 3.29 trillion to RMB 4.10 trillion over the next three years. Furthermore, a wavelet neural network model is employed to analyze global demand for pet food. This model incorporates advanced techniques for determining hidden nodes, employs backpropagation for weight adjustment, and utilizes Adam’s algorithm to optimize the learning rate. The analysis predicts an increase in global pet food sales from $138 billion to approximately $149.7 billion within the same period. By integrating diverse factors and data sources, the comprehensive model offers valuable insights to industry professionals and researchers. This research aims to support strategic decision-making and promote the sustainable development of the pet industry in China and globally.