Research on the Chinese Pet Market Based on Multivariate Prediction Model
DOI:
https://doi.org/10.54097/5jqym959Keywords:
Grey Model, ARIMA, Multiple Linear Regression, Pet Market.Abstract
China's pet industry is experiencing robust growth, prompting this research to develop a series of innovative forecasting models that not only predict the future number of pets and the size of the pet food market in China and globally but also offer practical suggestions for industry expansion. A key innovation lies in the integration of the Grey Model GM(1,1) to forecast the future population size of pets in China with high precision, coupled with correlation analysis to pinpoint the critical factors driving industry development. Furthermore, the study employs the ARIMA model to predict global pet food demand trends and estimates China's pet food production, demonstrating a holistic approach. An additional novelty is the use of a multiple linear regression model to forecast China's pet food export volume, considering various domestic and international factors, thereby providing a comprehensive understanding and prediction of the pet industry's future trajectory.
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