The virtual product market has shown a trend of rapid development in recent years, here are its latest trends:

• The market size continues to grow: From 2025 to 2030, China's virtual goods industry will enter a new stage of deep development, with the market size expected to grow from 350 billion yuan in 2024 to 1.2 trillion yuan in 2030, maintaining an average annual compound growth rate of 18%-22%.

• The growth rate of emerging categories is significant: In 2023, the trading volume of virtual gaming items accounted for 62%, still being the market's foundation. However, the trading volume of emerging categories such as digital collectibles, virtual character assets, and social metaverse equipment has seen a remarkable growth rate, with an average annual growth rate exceeding 45%. Among these, the market scale of blockchain-certified digital collectibles is expected to exceed 100 billion under policy regulations by 2025.

• Technological innovation drives development: AI generative technology enhances the efficiency of creating virtual items across all scenarios, the UE5 engine shortens the development cycle of digital humans, Web3.0 distributed storage technology ensures the security and transparency of virtual item ownership transactions, and the application of digital twin technology in the enterprise market drives the growth of B-end virtual item users.

• Expansion of Cross-Border Trade Scale: In 2025, China's cross-border e-commerce will undergo a structural transformation, with the scale of virtual products going overseas approaching that of physical goods for the first time, accounting for nearly 50% and with an average annual growth rate exceeding 20%. Virtual products such as games, online literature, short dramas, and digital tools are expanding at an average annual growth rate of over 20%, with emerging markets such as Southeast Asia and the Middle East becoming new growth points.

• Consumer behavior changes: The average annual virtual consumption of Generation Z users has exceeded 12.7% of their disposable income. The characteristics of this group show a three-dimensional integration trend of social monetization, identity identification, and asset investment, such as virtual gift tipping accounting for 31%, digital fashion repurchase rate at 45%, and the median holding time of digital collectibles reaching 9.2 months.

• The policy regulation is becoming increasingly完善: The deep integration of the "Overall Layout Plan for Digital China Construction" and the central bank's digital currency DCEP system provides dual legal and technical guarantees for the confirmation of virtual goods, circulation, and cross-border transactions. It is expected that by 2027, 80% of provincial administrative regions will establish a regulatory sandbox system for digital asset exchanges.