Till date, the pet industry is recognised as one that has maintained significant growth over the years. This is because almost every household has a pet, including dogs, cats and birds. With several trends and projects carried out by research industries, results have shown that the pet industry has enormous potentials and will boom steadily in future. Specific segments of the pet industry are experiencing significant growth and here is a list of some pet industry statistics in 2020. 

 

Healthy pet treats

 

Pet treats are now being made with bolder, authentic and complex flavours. The correlation of pet food and modern candy formats, for texture variations, is making pet owners open to a variety of shapes, textures and flavours. Also, there is an increase in clean labelling. Consumers of pet treats are becoming more health-conscious and seeking to indulge in pet treats which have a mixture of candy and healthy ingredients such as yoghurt or chia seeds. Pet treats are being developed, in terms of ingredients with functional benefits or other nutritional benefits, which allows pet owners to pamper their pets without guilt. The launch of new pet products in 2019 keeps the health-related trend in new products by category intact. The pet industry statistics show that natural products, in general, are gaining high popularity. This is because people have become more aware of improving and maintaining the health of the planet. Consumers are also increasingly suspicious of the possible toxicity of synthetic chemicals and other harmful materials. In addition to the desire to reduce the carbon footprints of their pets, pet owners choose to buy natural products to maintain or improve the health and well-being of their beloved pets. The best-selling natural pet products are holistic food for cats and dogs, cat litter, natural flea and tick repellents, full grooming products such as cranberries for dogs, older pet products, particularly for dogs and toys made with natural fibres. This health and wellness trend has made good sales for manufacturers.

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Increase in pet food sales through e-commerce

 

The high internet connectivity available in the leading countries is driving the use of e-commerce sites as an active distribution channel. The notions of convenience, wealth or exclusivity, security and market awareness play a crucial role in developing nations. The lack of reliability of local goods, as several scandals over the years indicate, is also causing people to trust foreign products. These are made readily available through e-commerce, which further increases sales. Thanks to the two large pet stores in the industry, PetSmart and Petco, pet industry statistics show that e-commerce channels are exploding with sales of pet products. There is a significant level of infrastructure delays and lack of product knowledge in smaller markets like Thailand and Vietnam due to the late adoption of market connectivity. One immense market advantage of these stores springing up is how they offer low regulations and competitions in the market. Companies, as e-commerce strengthens, are negotiating the constantly changing Internet landscape and trying to catch up with giants like Amazon. For example, in April 2017, PetSmart acquired Chewy.com, which increased the anxiety of independent retailers of pet products. In response to this development, Tuffy’s Pet Food, a manufacturer of independent and family-owned businesses, withdrew its products from Chewy. They were taken over by the largest chain of pet stores in the United States. 

 

Use of organic ingredients

When it comes to pet food, current consumers seek diet options which focus on the carnivorous nature of dogs and cats and increase the demand for fresh meat. Despite the increase in demand for carnivorous diets, pet industry statistics depict that vegetables are still becoming widespread, and producers are innovating their existing products. Pet foods are being formulated with regards to human concerns that include organic and non-genetically modified ingredients. The ingredients that are used in low-carb recipes and have gluten-free claims on new cereal products have increased in 2019. New product launches, with organic or GM-free ingredients, are experiencing growth in the market. Sales of organic and natural foods are expected to increase by 14.6%, annually, over the next two years. Pet industry statistics for the organic pet food in PetSmart and PetCo show that they are purchased at a rate of 5.6% and 7.1% respectively. Organic purchases at veterinary clinics are at 5.3%. Brands communicate more about production processes due to the growing interest of consumers for more natural authenticity and transparency. This is also the case for buyers who are searching for pet products in non-traditional forms such as frozen, raw, baked and freeze-dried. Pet companies are taking nutrition seriously and introducing unique processing additives after years of continuous research and development. An example is Simply+, which is marketed as a product that provides dogs with a nutritionally advanced food that contains all the crucial elements which make up a healthy diet. 

 

Cross-border imports

In China, the domestic market is growing at a high annual rate, and there are projections that it will boom even more by 2022. As such, this makes it the third-largest market in the world according to the latest pet industry statistics and trends. Also, the first cross-border experimental area for the pet industry was inaugurated in Hangzhou in Zhejiang Province industry in the Jianggan District. So far, since its inauguration, this zone has monitored the regulation and authorisation of imports across the border. This has, therefore, led to the introduction of better standards in the industry while still promoting the export of locally manufactured products. Also, several companies have been established in the experimental area, including cross-border e-commerce sites such as Tmall, Kaola Beibei and related logistics and storage companies. The city allows comprehensive services and aims to register channels and regulatory policies for the importation of open, transparent and intelligent pet food. Countries are making similar efforts to focus on the growing population and trends of pets. Market players are taking full advantage of this situation and investing in R&D for launching innovative products.

 

Pet grooming

 

Pet grooming is no longer restricted to a steady location but has become more mobile. This is unique, and a positive pet industry statistics as specially equipped vehicles move to the homes of pet owners to carry out their services. It gives these service providers the ability to perform a full range of services right outside the client’s door. This is a much-requested service because it is convenient for the customer. It also reduces potential stress in pets as they do not have to be taken away from home, which they are more familiar with. Older people in the household who have pets find this very convenient. On the negative side, the initial start-up costs for such a company are considerable. Those who can invest in this have virtually guaranteed high business growth dividends.

 

Luxury pet products

The pet industry is one of the fastest-growing sectors in the United States today. This is due in large part to the luxury sector of the pet industry that has generated tremendous growth in both volume and dollars and contributes significantly to the pet industry trend in 2019. Consumers who maintain the luxury market and their reasons for supporting this market are the key to the increasing positive pet industry trend in 2019. It is interesting to learn and understand the strategies of marketing and selling luxury products to high-level customers to attract and keep buying. The most important thing to recall about luxury pet products is that they are not difficult to market if the customer believes in the style, design, and what the brand represents. The clients that usually delve into the luxury market use the product for what the brand represents, its style, and design, regardless of price. They are more affluent, which means they have all the resources to spend on luxury pet products. This type of customer will usually buy the complete set of accessories that comes with the product. They always want to be updated on the latest product that may attract their interest. They don’t care how much money they will spend on their beloved pets, as long as the style is unique and the product is of the best quality.

 

There are four groups of people who continue to support the growth of Luxury pet industries. First, some acquire pets as a companion they love; this group are the retirees. Secondly, some belong to the group of people who have children but now have a life of their own. So to replace the presence of their children, they acquired a pet for company. Third, some have settled for dogs instead of having children because they are at the centre of their career and cannot quit. Finally, those people who are single and get a pet because they love animals.

 

Pet-friendly trips

 

This is another concept of high business growth that is being adopted by a growing number of companies in the holiday and hospitality industries. As more and more people consider their pets as dear family members, they are choosing to take them on vacation. Also, people are more mobile and may have to travel long distances to relocate for work, retirement or other purposes. Several sites have been springing up in the last few months that help to indulge pet owners.

An example is takeyourpet.com, which serves as an information resource and a directory for those travelling with pets. There are several applications available that can direct consumers to places that admit cats and dogs. A growing number of hotels, motels and inns, including the elegant New York Carlton Hotel, now accept pets. It is a genius move for those who wish to facilitate business growth and will undoubtedly remain a hot pet industry trend for a long time.

 

Pet health insurance

 

Although pet health insurance is not exactly new and has been in existence in the United States for as long as three decades, the use of pet health insurance has begun to speed up in recent times. This trend has boomed dramatically and increased the improved potential for the growth of the pet industry due to several factors. As times have begun to change, people increasingly consider their pets as beloved members of the family. Pets, like people, live longer and require more complex and prolonged medical attention. This has spurred the pet industry trend for more people to get health insurance for their pets. In recent times, there has also been technological advancement in veterinary technology, which has resulted in more expensive medical care. This means pet owners have an increasing concern of funds to maintain the health of their pets. This pet industry trend has such great potential for business growth that corporate giant, Nestlé Purina, even got in on this boom when launching Pethealth Inc., a pet insurance subsidiary in 2008. Although this is an extremely complex business, it is a smart move for those who incline towards it.

 

Pet sitting

 

Another pet industry trend that is gaining a lot of popularity is pet sitting. Not only does this offer pet owners the increased pleasure of ease and convenience, but this concept also provides many unique retail opportunities. To a lesser extent, exceptional niche services such as yoga for dogs and psychic communicators for pets are popular industry trends. In themselves, these services are not vast. However, they offer great potential as promotional services to increase the visibility and ability of a pet business to attract more store traffic.

 

Conclusion

 

As we learn more and become more knowledgeable about ways to improve the lives of pets, pet industry statistics and trends will continue to evolve. This is definitely not a broad list, but it provides an insight into products, services and concepts that have witnessed immense growth in 2019. Other booming trends that are increasing in popularity according to pet industry statistics are Canine training, Holistic and exclusive spa services such as “leg tinctures”, pet massage, and Pet portrait photography. Given that American pet owners are expected to spend even more on their pets in the future, the sky is the limit for those who have a good head for business to bring about new trends and a genuine love for these lovely pets.

Want to grow and scale your Pet Business ?? Then you need to apply right targeted strategies which can bring a lot of Pet owners as your customers!! Click here to know more!