What is lacking in the pet industry 2021.

What is lacking in the pet industry 2021 94 billion in 2021 and is When most people think of the ways that COVID-19 impacted the world, they think of things like the economy and education. Globally, the pet insurance industry reached $9. An estimated 6. , pet care, food, health, etc. The overall pet market grew a remarkable 14% in 2021—topping the 10% growth rate it achieved in 2020, according to a recent video interview hosted by Packaged Facts Research Director David Sprinkle. The Global Pet Industry is set to grow to $500 Billion by 2030. 67 billion in 2021. 5 billion) in 2020. The pet industry demonstrated in 2008 that it was recession-proof. ‍ Reference: - Pet industry in South East Asia – from pet lovers to pet parents Apr 1, 2024 · According to Liu (2021, p. Jan 31, 2023 · Coral Gables, Fla. After an impressive Globally, the pet care market has grown to $261 billion in 2022; up from $245 billion in 2021. 54 billion U. For elderly people, while international studies suggest positive effect of pet-keeping on the older adults’ mental health ( Hui Gan et al. 8 €109. 6 million CAD for pet health insurance premiums. The pet industry is poised to swell from $320 billion today to almost $500 billion by 2030. dollars and positive sales growth of 2. In this vein, sales of pet food, representing the most important pet health product and two-fifths of the overall pet industry, rose by nearly 16% in 2020 and 15% in 2021. in care than ever before, but tools such as insurance could help where cost is a barrier. 3 $132 €521. The Canadian pet food market is expected to grow to 5. Jul 5, 2022 · This article was published in the June 2022 issue of Pet Food Processing. The cat and dog population exceeded 112. exporters in the pet care industry. Here is an article on how to start with it. 40 Annually, this amounted to about 767. (2021) Pet Industry Trends, Growth & Statistics in 2021 and Beyond: Unleashing Your . However, the adoption rates for dogs, cats, and other pets soared during the pandemic, as did [] Life expectancy has risen by as much as 230% for pets in some nations. The pet-sitting market size was $1. Two (2) corporations consume 49% of the pet industry’s market share. 04% through 2030. that is likely to be lacking. So, if you are still considering forming a pet business, now is the right time. 8 €123. 34 billion USD in 2021. 2 billion by the end of 2021, due to the Apr 1, 2021 · The material flow of PET in China was considered in three periods from 2000 to 2018: a) 2000–2005, when the PET industry started to expand rapidly; b) 2006–2010, when the PET industry entered a stable development period; and c) 2011–2018, when the industry experienced peak investment and construction levels (Gao et al. Sep 1, 2023 · Across the United States alone, more than 300 million pounds of flexible plastic packaging is created by the pet industry each year. From research and development to commercialization and distribution, professionals in this industry and many others must be analytical and strategic to get ahead and stay ahead. It suggests that those driving the growing pet industry in China are millennials and Gen-Z, primarily born under the one-child policy rule. This article highlights some factors that are still lacking in the pet industry and what can be done about it. Pet ownership increased there by 8. Headlines of Pet Food Processing articles over the last year have highlighted increasing pet ownership, expanding pet food sales, exciting developments in production and packaging, and escalating pet food exports — all harbingers of a growing Jun 28, 2021 · The 2021-2022 Survey reports pet ownership has increased from an estimated 67% of U. Pet Market Outlook, 2022-2023 by Packaged Facts, a leading market research firm and division of MarketResearch. 5 billion in spending in 2021, an impressive growth of 20. 1. Key Trends in the Omni Marketplace Today, the total Pet Care market is worth more than $83B. These trends often appear within the specific markets that make up the pet industry (i. During Oct 13, 2020 · Hopefully, this collection of pet industry data has helped you better comprehend the ever-changing pet business market. 1% compounded annual growth rate (CAGR), will catapult that figure to $350 billion by 2027. new “pet culture” based around the increased humani-zation of pets and increased number of pets kept for companionship alone. Talk about pampered pets. Its share of revenue also spread due to the “pet parenting” trend, in which pet Globally, the pet care market has grown to $261 billion in 2022; up from $245 billion in 2021. Humane Society that 72% of renters are pet owners, thereby Apr 10, 2024 · The pet industry is doing fantastic in 2024 so far. But in some narrow pockets, from sawmills to psychologists’ offices, employers are raising wages Nov 21, 2022 · According to an industry report released last week, in 2021, China had a total of 58. Jan 19, 2025 · Is the pet industry growing or shrinking? Spoiler: pretty pawsitive – at least at first! Between 2021 and 2024, pet sales have grown each year, with a slight dip expected for 2025. May 19, 2022 · The U. The industry is booming at a fast rate. The pet industry is booming, and with more niche markets within the industry becoming increasingly more saturated, how you advertise your brand, products, and positioning will matter this year. 5. The results are shown in Figure 2. 4 Source: Euromonitor International Feb 21, 2023 · A Statista study on China’s pet industry in April 2022 revealed that the sector is worth more than $31. One industry that you might not realize it affected is the pet industry. 13 million tons, a year-on-year increase of 17. 3 percent. – Jan. Although convenience is also highly valued, it is smart products that are preferred by pet parents – meeting their needs to save time and effort. E-commerce driving sales gains Jan 13, 2021 · In mapping sales performance, moreover, the brick-and-mortar versus online divide is at least as important as products versus services. Jan 27, 2023 · In fact, pet ownership has become ubiquitous in urban China. All in pet retail sales increased over 6% in RRub in 2020 compared to 2019. 2-in-3 American households include at least one pet. Ecommerce Pet Marketing Strategies. Pet Industry M&A by Buyer Type Transactions by Type First half of 2022 U. Figure 2: Educational distribution of pet owners 6% 6% 14% 27% 33% 14% Age Distribution of Pet Owners(2021) before 75 75s 80s 85s 90s 95s 3 Oct 25, 2024 · Read on to learn more about the key trends shaping the pet industry, what’s driving growth in the pet food segment, the next generation of pet parents, and more. China’s 58 million pet cats and 54 million pet dogs benefited from $38. The US remains the biggest region in the global pet economy, with 40% of industry sales. 6 percent from 2004 to 2021, equivalent to 5. According to Michigan State University, the pet industry had an overall economic contribution in 2023 of $303 billion, an increase of 16% Jan 7, 2025 · Millennials lead the pack in terms of pet ownership by generation, with 33% of people born between 1981-1996 being pet parents. households that own a pet to an estimated 70%. 9 $630. Apr 11, 2023 · Growth in pet technology, which includes smart collars, feeding devices, pet cameras, and mobile apps, has been driven by the need for pet owners wanting to monitor and interact with their pets constantly—the global pet technology market is expected to reach $17. 99% of multi-laminate packaging currently used for most pet food and treats does not have a sustainable end-of-life solution. for pet care as free-roaming or ‘community’ animals may lack a formal owner. Skills for sustainability 50% 50% 64% think it is Mar 22, 2023 · The pet industry grows by 11. It is projected to reach over $150 billion (€139B) in 2025 and closer to $200 billion (€185B) by 2030. S. For physical retailers across the board, the online onslaught has meant a dwindling share of pet product sales: from 2015 to 2019, the brick-and-mortar (mass market and pet specialty combined) portion dipped from 93 percent to 78 percent, while the online Jan 17, 2024 · In an industry as substantial as the global multi-billion-dollar pet industry, trends help tell a story of where things are heading, the latest innovations, and a glimpse of the evolving needs of pet parents. Searches for "pet insurance" are growing slowly but steadily at 100% over the last 10 years. IET skills and demand in industry 2021 survey 7. 5 $3,988. 5 million in 2017, according to Statista, a German company specializing in market and consumer data. The U. Even with sky-high inflation and other economic pressures , plus the rising cost of pet food, services, and accessories, people are spending more money than ever on their pets. ; The Canadian pet food market size was $3. Pet supplies are a leading industry category in the United States, with sales of approximately 4. Jun 15, 2021 · The broad economy has yet to show signs of a serious worker shortage, economists say. Not only are you competing with other eCommerce pet brands, but many customers turn to Amazon for the convenience of online shopping and instant Source: Petfood Industry. 230), pet keeping is urban-based popular culture among young people as China’s pet industry is deeply influenced by East-Asian cute culture through globalization. 2 billion ($152. The predictions are that the pet industry will be worth $358. Read more about our new Trust & Safety measures in section 5. 5% projected in 2024 and 3. 46 billion in 2021 and is expected to grow to US$39. 8 Feb 6, 2023 · These factors create great potential for U. One of the biggest trends in the pet industry today is the increasing demand for natural and organic pet products. 6B by 2025, with the U. Jan 1, 2022 · The lack of awareness of s cientific pet raising in . 33 billion by 2027 Mar 20, 2025 · The 20 Canada Pet Industry Statistics. Mar 22, 2024 · For more information, be sure to read the report US Pet Market Outlook, 2024-2025 from Packaged Facts, which analyzes current and projects future retail sales and trends across the US pet industry. demand in industry 2021 survey . Here’s the breakdown of sales growth: 2021: +12%; 2022: +11%; 2023: +10%; 2024: +8% Sep 1, 2021 · Most pet travel supplies are consumer durables, and the purchase frequency is relatively low. Read on, to know which areas of the pet industry need a boost! Scope Of the Pet Industry. Shared during the Pet Industry Leadership Summit, data from the study The 2021 Pet White Paper shows that among China's pet consumers [5], more than 80% of pet owners have a bachelor's degree or above, and 8% have a graduate degree or above. ; The Canadian Aug 18, 2023 · This has made way for the pet industry to bring about as many resources and tools to help people navigate pet parenthood. This 2022 report compares current estimates with results from IMV’s prior PET market reports since 2001 to explore nationwide trends in the volume and type of PET scans performed, manufacturer installed base share, PET scanner installed base characteristics, technology adoption rates, PET scanner purchase plans, radiopharmaceutical utilization, and site operations characteristics such as Furthermore, the 2021 Mintel Report for UK Pet Food found that two-thirds of owners would be interested in pet food containing ingredients that support gut health, while 66 per cent would like to know more about dietary support for their pet’s brain (Mintel, 2021). economy and accounted for a net contribution to the annual gross domestic product (GDP) of $174. 7 $1,707. In China, a relaxation of pet ownership regulations and a falling birth rate were additional contributors to an increase in pet ownership. Compared with general pet products, pet care consumers are attracted to innovation, safety and design. Apr 26, 2022 · Here's a look at the top trends driving pet industry growth and the latest pet industry statistics published in U. (June 1, 2022). - Pet industry transaction volume peaked in 2021 at 162 transactions according to CapitalIQ, declining to just over 100 transactions in 2022 o When you factor out medical services transactions, this decline of ~ 37% increases to a decline of ~ 52% Historical U. Fresh data from market researcher Euromonitor International projects that the pet food segment will increase at a higher pace than the overall industry, with the market representing €140. US and Europe snapshot. 29 million dogs, and the total scale of the pet economy was 249 billion yuan ($34. With the increase in pet ownership, the scale of China's pet industry has grown rapidly. Aug 9, 2024 · Market revenue of the pet food industry in China from 2018 to 2023, with estimates until 2028 (in billion yuan) Premium Statistic Market size of pet nutritional products China 2020-2023, by pet type Feb 10, 2023 · In 2021, Philippine food processing company Century Pacific Food (CNPF) entered the pet industry with the launch of a new brand of cat food named Goodest. 6B) by the end of 2024, 4. 2B) by the Oct 7, 2022 · The overall pet market – not just veterinary services – should be considered a health and wellness industry. 5 €452. Nov 11, 2021 · PET’s total market share was approximately 74 million metric tons in 2020, and its total market share is $181. 31, 2023 – New data has been revealed showing that the pet sector contributed $260. 9 billion, and it is expected to reach $193. Sep 27, 2023 · The pet care industry is a growing industry, but it also faces a number of challenges, including rising costs, labor shortages, supply chain disruptions, increasing competition, and changing Aug 19, 2024 · Interesting Facts About the Pet Industry . pet industry M&A activity was up approximately 12% despite a slowdown in broader M&A Private equity was highly active in the first half, participating in almost two-thirds of transactions public and our users through our industry report is one of many tools helping us continuously improve welfare standards for all pets. 7%. Competitive Landscape: Demand is driven mainly by the number of cats and dogs kept as pets, which is affected by demographics and economic conditions. 7 million households own a reptile. ), and are fueled North America accounts for a lion’s share of the pet industry with 67% of US households owning a pet. 4 percent per year. 62 billion by 2027. , 2020 ), the The pet industry is amongst the ones with the most stable growth through time. pet industry continues to boom. Making the pet industry a safer place for pets and pet parents is a team effort “…Aside from legislation, it is vital we share Jan 1, 2022 · The objective of this study was to identify determinants of pet food purchasing decisions. Pet Industry Statistics Oct 8, 2021 · Concurrently, the new lifestyle – staying at home, working distantly, lack of usual leisure activities boosted expenditures on pets. The largest pet food producing regions in China were the northern provinces of Hebei and Shandong, which reached a production output of 429,847 tons and 268,064 tons, respectively, according to data from the China Feed Industry Association. com. , 2012). 6% over the previous year. 4 billion in 2022 and is expected to grow at a compound annual growth rate of 17. Nov 12, 2021 · In his latest “Pet Industry Overview” reporting on fall 2021, Bryan Jaffe, managing director of Cascadia Capital, an investment firm focused on the pet industry, offered insights and projections. 2020's unprecedented growth demonstrated to us that it is also pandemic-proof. In addition, Packaged Facts has published a variety of other pet industry market research reports that may interest you including: Apr 28, 2025 · Pet insurance is one of the most interesting pet industry trends in 2024. Globally, the pet industry is worth $232 billion. Jun 27, 2024 · Output in pet care services is measured as constant dollar sales, derived by deflating industry revenue with BLS consumer price indexes to remove the effects of inflation. Technology is driving the growth of the pet industry. 2 $148. If you’re looking for a search partner who can help Globally, the pet care market has grown to $261 billion in 2022; up from $245 billion in 2021. 5 million annually, derived from a Morgan Stanley Research report. 2% in 2017 alone24 and the pet industry Pet care market sizes in Germany, Switzerland and Austria in 2019 (mln) Pet food Pet products Pet food Pet products Pet food Pet products €3,301. “We think we have found an attractive opportunity where we can offer compelling value to the market. 9% in 2025. 96 billion). The market has reached almost 300 billion Yuan 38. An online survey was administered via e-mail, newsletters, and social media. 2 billion ($207. One of Nov 22, 2024 · A bigger pet population and continued humanization could push this up to over $500 billion (€463B) by 2030. e. . 4 million in 2021, rising from 87. 7% more than last year. 6% every year. Here are some more interesting facts about pet industry statistics in the US: 24% of Gen Xers — born between 1965 and 1981 — own pets. Asian and European markets have also witnessed a steady increase in pet adoption, and the pet care markets in these regions are estimated to grow at a Nov 25, 2024 · The cost of pet food and other pet supplies is rising – Despite inflation, pet owners are still spending more than ever. Key Pet Industry Trends and Statistics for 2022. 45 CAD for pet owners whose dogs were covered by an accident and sickness insurance plan, though the average puppy health insurance plan was roughly 1,100 CAD per year. 5 billion directly and indirectly to the U. The US pet care market alone was estimated to be worth $99 billion (€84. Based on his information, pet food manufacturers and suppliers, along with retailers and pet owners, should prepare for a continuing bumpy ride. 5 billion (€29B), drawing interest and investments from domestic and overseas businesses. Jul 12, 2024 · Spending growth in the pet industry could reach 7% annually by 2030, after below-average growth of 2. Jun 30, 2021 · Press release CIPS The changes in pet retail of China According to the White Paper on China s Pet Consumption Trends in 2021 released by iResearch, the epidemic has driven the rapid growth of the pet consumption market. 8 $546. However, despite the industry's growth and success, there are still areas that are lacking in the pet industry when it comes to the well-being of our beloved pets. 96 billion USD by 2029. The Pet Food segment is over May 14, 2021 · Services provided by veterinarians and pet supplies retailers, which are not included in the industry, are covered in the Veterinary Services and Pet & Pet Supplies Stores profiles, respectively. 52 billion Euro in 2020, compound growth rate has reached 32. Millennials were also revealed to be the largest cohort of pet owners at 32%, followed closely by Boomers at 27% and Gen X at 24%. “That’s a whisker below the previous Morgan Stanley survey of pet owners in 2022, but still outpaces nearly all retail subsegments and is one of the largest rates of return of any retail sector,” says The pet industry needs professionals who can think on their feet while being innovative and efficient now more than ever to help combat the obstacles being faced. Read it and other articles from this issue in our June digital edition. The structure of the market stays the same – 79% food and 21% non-food products in value. 1 But, the pet industry is experiencing significant shifts, with growth now being driven Feb 13, 2025 · In 2021, Canadians paid out a total of 244. 41 For owners of cats, accident and sickness . 9 #1,413. dollars) [Graph]. The pet market transformations caused by Apr 18, 2024 · The global pet care industry is forecasted to represent €191. due to greater levels of vaccination, veterinary care, and improved awareness of the needs of pets. 6 Output grew a cumulative 144. S being one of the biggest markets. Oct 31, 2022 · Industry Calendar; Pet Food Product Database the global cat food market was valued at US$32. 06 million cats and 54. Statista Mars and Nestle contribute more than 60% of global 2021 revenue of the top 25 pet food companies Top 2 companies contributing to 60% of the global 2021 revenue of pet food industry Jul 21, 2022 · In 2021, China’s pet food production reached 1. The average pet-owning household spends $1,120 per year on their pets. In 2018, pet industry expenditures totaled 90. pet market has shown extraordinary resilience and sales growth in the wake of COVID-19. Leading pet food companies worldwide in 2021, based on revenue (in million U. A study suggests that considering the rapid urbanization and pet humanization, the pet industry is steadily growing at a rate of more than 10% • While pet food inflation trails the total CPI, significant inflation is expected in the future based on prices increases implemented in 2H2021 • The lapsing of the eviction moratorium provides the greatest unknown to 2021 pet population, based on data from the U. xzuub jkujf foocb zcmh uvvzzrm wwldzs qmttfto lnkvxkx wdunvva bhmk dyucja hsg ogy avvacjd npcthwvw