What is lacking in the pet industry 2022 Pet ownership. Pet food and treats, vet care and supplies sale, pet insurance companies, accessories, etc. 1. Feb 10, 2025 · To stay successful in this strong market, companies must overcome several hurdles including high competition and market saturation, lack of consumer awareness and education, continued supply chain disruptions, a tough labor market, consumer concerns about animal welfare and sustainability, and the critical impact of recalls, which have evolved from impacting individual brands to damaging the Apr 26, 2023 · Wiggles offers a range of services, such as pet grooming, pet healthcare, pet boarding, and pet training, to ensure that pets receive the care they need. 4 billion in 2022 and is expected to grow at a compound annual growth rate of 17. Pet Industry Trends: Growth & Statistics in 2022 and Beyond. 48 billion worth of dog and cat food, highlighting the international demand for American pet food products and the industry’s significance on the global stage. Globally, the pet insurance industry reached $9. Pet Market Outlook, 2022-2023 by Packaged Facts, a leading market research firm and division of MarketResearch. And with the development of society, the future market and products of the pet industry will further expand. 2 billion ($207. 5%, Personal Consumption Expenditures @ 8. S being one of the biggest markets. Read it and other articles from this issue in our June digital edition. Investment boom. 2020's unprecedented growth demonstrated to us that it is also pandemic-proof. In 2022, e-commerce pet sales accounted for 36 percent of total sales –– up 16 percent from 2017. Feb 9, 2024 · Underscoring the importance of this burgeoning sector, the South Korean government recently unveiled an ambitious plan to double the size of the pet care industry to 15 trillion won ($11. 3 Short video self-media software promotes the development of new pet raising methods pet could grow from $980 in 2020 to $1,292 by 2025 (Morgan Stanley). 3. That’s 3. Mar 22, 2023 · The pet industry grows by 11. • North American Pet Health Insurance Association (NAPHIA) Dec 19, 2023 · In 2022, the US exported a staggering $2. ‍ Reference: - Pet industry in South East Asia – from pet lovers to pet parents Mar 10, 2023 · In fact, eCommerce spending is expected to reach $36 billion in 2023 — a 20% projected increase from 2022. The growth is primarily driven by the pet food segment, which alone accounts for €4. 5B/€10. These industries rake in millions of dollars each year. 5% increase from 2022. , more than triple of its global peers. 2 The Current Pet Trade in the EU and its Variation between Member Jun 28, 2021 · The 2021-2022 Survey reports pet ownership has increased from an estimated 67% of U. households that own a pet to an estimated 70%. com. 17. The primary factors were, of course, larger ongoing supply chain issues caused by the COVID-19 pandemic, as well as an aluminum manufacturing factory in China that had to demand for pets and the support of modern technology have allowed the pet industry to develop more types of products. nginx The pet industry is amongst the ones with the most stable growth through time. 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%. 8%, Packaged Facts @ 9. K. , 2022). Globally, the pet industry is worth $232 billion. 2007). Pet Market Outlook, 2022-2023 by Packaged Facts. Sep 6, 2024 · Pet food manufacturing has shown steady growth in the region in the past decade. 5 billion kilograms of food in 2028. The pet industry produced another strong growth year in 2022, but all signs point to decelerating fundamentals as YoY growth declined off the COVID-19 apex • Industry growth was elevated across reporting platforms – APPA @ 10. The U. Jan 23, 2025 · Australian Pets 1. Pet Industry M&A by Buyer Type Transactions by Type First half of 2022 U. 1 pet population; 2 pet health; The pet industry is a major global sector. 32 Billion in 2022 and Crossed $246. The Pet industry consists of many significant branches. Apr 18, 2024 · “People often have pets for the status on social media, but lack the skills to understand the species and what they really need,” she states. 4M) in duties per year. 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 2022. Two (2) corporations consume 49% of the pet industry’s market share. Published in Sept 2022. Visitors: Driving Paid Traffic 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. Moreover, GIA asserted that “The global pet industry is considered one of the fastest-growing market segments. Jan 7, 2025 · Here are some statistics about the pet accessory industry. Feb 10, 2023 · The data company estimates that Filipino pet parents spent $124 million on pet food in 2022, an increase of 16. 24 million adult consumers live in a pet-owning household. 9% CAGR to Rmb756. 2 billion. Key Pet Industry Trends and Statistics for 2022. Researchers can use the relevant data in this article to understand the future development trend of the pet industry. How the pet food industry fuels meat industry profits Many of the main ingredients in cat and dog food are animal-derived, creating substantial links between the pet food industry and animal agriculture. 62 billion by 2027. The average pet-owning household spends $1,120 per year on their pets. 1 More than half of homes in the U. As supply caught up with demand, Oct 13, 2020 · Hopefully, this collection of pet industry data has helped you better comprehend the ever-changing pet business market. One of the biggest trends in the pet industry today is the increasing demand for natural and organic pet products. 04% through 2030. pet industry, factoring in the longer-term impacts of the coronavirus pandemic. So, if you are still considering forming a pet business, now is the right time. 5 billion (€29B), drawing interest and investments from domestic and overseas businesses. As of April 2022, 3. Here is an article on how to start with it. 2 billion ($152. 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. The predictions are that the pet industry will be worth $358. 4m pet lovers searching for a new companion. 2 3 Just under half of Italian households have a dog or cat, while just shy of 10 percent of them provide homes for domesticated birds or turtles. 34 billion USD in 2021. and France cater to at least one pet. 4B) by 2027. 7% of 2022 pet transactions while strategics The pet industry is the market industry associated with companion animals. A study suggests that considering the rapid urbanization and pet humanization, the pet industry is steadily growing at a rate of more than 10% Dec 31, 2021 · Learn about the various facets of current supply chain challenges in the pet food industry, from ingredient shortages to raw material woes and transportation issues. dollars) [Graph]. It includes things that are associated with the production, consumption and cultural activities linked to the market. Pet Industry Statistics The pet food industry provides for all of these, and is expected to produce 59. In the past 5 years, specifically in pandemic years, the number of pet start-ups (and investors injecting capital) has been rising considerably in India. pet industry continues to boom. Since then, this industry has seen substantial growth, and is today worth $57 billion U. 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 Global Pet Health Report 2022 Pet Population Pet Health Pet Care Healthy Future 5. 6% Jul 5, 2022 · This article was published in the June 2022 issue of Pet Food Processing. This is expected to save the industry €140 million ($157. 4 According to the White Paper Team, on March 27th, the English version of the "2023~2024 China Pet Industry White Paper (Consumption Report)" produced by Petdata, under the guidance of the National Companion Animal (Pet) Standardization Technical Committee, the Pet Industry Branch of the China Animal Husbandry Association, and the Chinese Oct 31, 2022 · In the first half of 2022, news of an aluminum can shortage spread throughout news channels, with wet cat food highlighted as an industry segment being particularly affected. by 8. What is lacking in the pet industry? And what challenges do pet brands face? Globally, the pet care market has grown from $216 billion in 2020 to $232 billion in 2021. dollars. In a 2020 survey, 72% of respondents indicated that they would not alter spending on pet food regardless of their finances. According to APPA’s “Strategic Insights for the Pet Industry: Pet Owners 2023 and Beyond” report, 66% of US households currently own a pet, which means that about 172. 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 Jan 1, 2022 · PDF | On Jan 1, 2022, Yixuan Feng published Digital Pet Product & Service Platforms: The Diversity of the Industry | Find, read and cite all the research you need on ResearchGate Aug 30, 2024 · Of course, there are many newer, less “conventional” categories of pet food where research is also lacking; low funding for and availability of published companion animal research has long been a source of concern for the industry. The pet industry, as an industry that provides companionship for customers and services for pets, the growth of the domestic economy will well promote the development of the pet industry. (Pet Food Industry) Australia really loves its pets, and the country has an estimated pet population of 30 million animals. The competition for a pet was fierce during 2020 when we saw 420 potential buyers for each pet advertised on Pets4Homes. 2B) by the Mar 20, 2025 · The 20 Canada Pet Industry Statistics. 5 billion (compared to €4 billion in 2022) with cat food making up the largest share, at €2. Pet Industry M&A by Buyer Type Transactions by Type Pet M&A slowed in 2022 as the broader M&A market slowed due to higher interest rates and increased economic uncertainty; although activity remained robust PE-backed strategic acquisitions accounted for 50. After an impressive Jul 12, 2024 · While 80% of pet owners prefer to shop in stores, online buying of pet food and other supplies continues to rise, with nearly 70% of respondents reporting buying via the internet in the past six months, up 9 points from the 2022 survey. 66 Billion in 2023 (Fortune Business Insights) According to Global Industry Analysts, in 2022, the global pet market was valued at $261 billion. 2-in-3 American households include at least one pet. 1% compounded annual growth rate (CAGR), will catapult that gure to $350 billion by 2027. During 2022-2025, the pet accessories market is expected to grow by $9. • Industry loss data is not easily obtainable because pet insurance is commingled with other inland marine property coverages, such as contractor’s equipment, in the annual statement. Jul 1, 2024 · The German pet industry is one of Europe’s largest markets, generating €7 billion in 2023, a 9. Apr 10, 2024 · The pet industry is doing fantastic in 2024 so far. 7 billion) to 396 billion yuan ($58. . The conditions under which pet food is produced has significant environmental implications, leading to questions about its long-term sustainability, and the future of the Apr 18, 2024 · The global pet care industry is forecasted to represent €191. ; The Canadian pet food market size was $3. Therefore, this research aims to give a snapshot of of the scale of the EU pet in selected MS in the EU. China, a major player in global trade, stands out in this context. Dec 14, 2023 · It also considers pre-COVID (2018), COVID (2020), and post-COVID (2022) data. 3 billion (compared to €2 billion in 2022). In September 2022, she opened Letty Sitter, a 150 sq m space offering specialized consultations on basic care for unusual pets such as blue macaws, cockatoos, monkeys, snakes, chinchillas and even ravens. Pet Industry Spending (2009 –2030) Source: Morgan Stanley ($ in billions) Pet Ownership Among • Pet insurance does not have its own financial reporting line in the annual statement. 7 A pet food powerhouse moves into services, technology, and adjacencies. 6% every year. Based on his information, pet food manufacturers and suppliers, along with retailers and pet owners, should prepare for a continuing bumpy ride. Read on, to know which areas of the pet industry need a boost! Scope Of the Pet Industry. 96 billion USD by 2029. 4 Source: “Online Pet Food & Pet Supply Sales in the US - Market Size,” IBISworld, January 10, 2023 5 Source: “Pet stores Industry in the US” IBISworld, March 22, 2023 Feb 13, 2025 · Across the globe, almost 845 million dogs and cats have a home, though dogs are, by far, the most popular non-human family member in the world. (June 1, 2022). 5 billion yuan ($10. It suggests that those driving the growing pet industry in China are millennials and Gen-Z, primarily born under the one-child policy rule. Many pet parents in India rely on local veterinarians, who may not have Dec 9, 2020 · Read on to discover more about the latest statistics and trends in the pet industry! Pet Industry Market Size. 5bn over 2022-30E and expect the sector to deliver a 2023-25E EPS CAGR of 28%, i. According to Michigan State University, the pet industry had an overall economic contribution in 2023 of $303 billion, an increase of 16% See full list on commonthreadco. One of the starkest issues facing the U. The focus will be on pet food, pet healthcare, pet services and pet tech. There are approximately 30 million pets in Australia. Jan 27, 2023 · With the increase in pet ownership, the scale of China's pet industry has grown rapidly. 5 This impact is no different for the pet food industry, with more pet owners choosing to buy pet food online. Here are the latest numbers. 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. We estimate the industry could expand at a 12. Sep 15, 2023 · When the production of the first foods specifically formulated for pets began in the 1800s, the pet food industry was born. Here’s the breakdown of sales growth: 2021: +12%; 2022: +11%; 2023: +10%; 2024: +8% Feb 4, 2023 · One of the main challenges facing the pet care industry in India is the lack of a robust and organised pet care community. Technology is driving the growth of the pet industry. According to Feedlatina, a body representing pet food players in Latin America and the Caribbean, production of pet food in the region reached 7. One of Pet Industry M&A Activity Historical U. An estimated 6. 5m households in the UK searched for a pet on Pets4Homes, whereas the same period last year saw 4. “The feedback we saw from pet owners reflects generational trends in e-commerce across retail segments, and Aug 9, 2024 · Pet food industry 8 Premium Statistic China's pet food market size 2018-2028 Premium Statistic Market size of pet nutritional products China 2020-2023, by pet type Aug 19, 2024 · The Global Pet Market Industry Valued at $235. The Boom of Ecommerce’s Pet Market; Pet Ownership and Buying Behaviors; Data on Three Verticals within the Industry; Pet Stores, Retail, and Pop-Ups; Amazon: The Elephant Great Dane in the Room; Pet Industry Marketing: Unleashing Your Ecommerce Strategy. 6B) by the end of 2024, 4. This number is expected to grow to 45 percent of total pet product sales by 2026. This has led to a rise in direct-to-consumer pet food brands, which can offer a wider range of products and faster shipping times. Dec 30, 2024 · In our view, we believe China's pet market has substantial growth potential supported by rising pet ownership, sub-sector diversification and consumption upgrade. pet care industry today is a shortage of veterinarians and veterinary technicians. In addition, Packaged Facts has published a variety of other pet industry market research reports that may interest you including: Apr 26, 2022 · Here's a look at the top trends driving pet industry growth and the latest pet industry statistics published in U. From 2015 to 2022, pet consumption grew from 72. e. S. Visitors: Driving Paid Traffic 301 Moved Permanently. Lack of formal ownership can also lead to indiscriminate Pet Industry Trends: Growth & Statistics in 2022 and Beyond. com May 19, 2022 · The data cited in this video discussion is drawn from the recent report U. Leading pet food companies worldwide in 2021, based on revenue (in million U. 8% more than in 2022. 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 owning a pet, with largest growth in pet ownership in recent years among 18- to 34-year-olds. This article highlights some factors that are still lacking in the pet industry and what can be done about it. Searches for "pet insurance" are growing slowly but steadily at 100% over the last 10 years. ” Apr 28, 2025 · Pet insurance is one of the most interesting pet industry trends in 2024. Initially the pet food Pet Industry M&A Activity Historical U. As studies showed, the EU plays a major role in the global pet trade, and wildlife decline (Nijman & Shepherd, 2009; Janssen & de Silva, 2019; Altherr et al. In the case of vegan pet food, it may take higher consumer demand — followed by the deep pockets of larger Aug 1, 2023 · By Brett Yates. 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. According to data from local pet food producer Pimlico, the offline channel – grocery retailers and pet stores – dominated sales, accounting for 84% of all purchases in 2021. $-$50 $100 $150 $200 $250 $300 $350 Bear Bull Base U. 3% against 2021. This report analyzes retail sales and trends across the U. The Canadian pet food market is expected to grow to 5. 2% in 2017 alone24 and the pet industry was the Oct 29, 2024 · The pet retail industry is thriving, driven by shifting consumer habits and innovative technologies — and understanding emerging pet retail industry trends gives businesses a competitive edge in meeting the demands of today's pet-loving consumers. 6B by 2025, with the U. The pet industry demonstrated in 2008 that it was recession-proof. (Technavio) 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. In fact, by 2030, 1 we will need 40,000 vets and 133,000 vet techs to meet the needs of our nation's companion animals. In today’s noisy e-commerce space, online sellers must go above and beyond minimum content requirements to stand out. 7% more than last year. 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. Feb 21, 2023 · A Statista study on China’s pet industry in April 2022 revealed that the sector is worth more than $31. 6 billion), according to the 2021 White Paper on China's Pet Consumption Trends by iResearch Consulting Group, a Chinese market research firm offering Jan 1, 2022 · PDF | On Jan 1, 2022, Wangyi Zhang and others published Analysis of the Future Development Trend of the Pet Industry | Find, read and cite all the research you need on ResearchGate Nov 27, 2023 · Pet Industry Perfect SKU Report Overview. PET INDUSTRY HIGHLIGHTS No pet food tariffs under EU-NZ free trade agreement As per the new free trade agreement (FTA) between the European Union and New Zealand, all key products, including pet food, will be no longer subject to tariffs. 3 million tons last year. ; The Canadian Source: Petfood Industry. qbh fygbik four sfzxyx hnoeh yxfup ibvap cijdth ljyh iupe wnpbixqc idzu cfyl oabsg lwfy