Americans love pets, and that is good for our industry! Market trends continue to move in our favor, with more and more owners treating their animals like part of the family. Whether it is boarding, grooming, food, or medical care, the animal industry is seeing more and more consumer trends being demanded in our industry. Consumers are focused on luxury experiences, simplicity/convenience items like home delivery, and health food products.
It is estimated that 65% of households in the US own at least one pet, the pet industry is made up of the products and services that keep those pets alive, happy, and healthy. This includes boarding, daycare, training, grooming, health services, and daily essentials like food and toys.
The pet care industry was 63 billion in 2016, 70 billion in 2017, and is expected to continue that growth rate in 2018. The industry also supports a healthy growth of animal related jobs. According to the Bureau of Labor Statistics, the animal care industry will experience 11% job growth between 2014 and 2024, this is above average job growth compared to the overall job market.
The majority of this spend is in food and supplies, the food and supplies market segment is a combined $43 billion.
The clear leader in this market is pet food, consumers are becoming more aware of ingredients in their food and are looking for healthier options for their pets also. Pet food will continue to be a hot market in 2018, for more information, read out article 5 Hot Pet Food Trends in 2018.
Following Food and Supplies, Veterinarian Care is expected to be $16 billion, as more consumers are focused on preventative care. Pet owners want to make sure their pets are cared for like their human children.
Professional animal care services like boarding, daycare, grooming, and training are expected to make up close to $6 billion. Consumers are expecting unique luxury experiences, convenience, and technology that connects them to their pets while they are away. In the boarding and daycare industry, this translates into facilities that offer luxury suites, web cams, beds, and digital paperwork/check in processes.
Currently, I own and oversee Shady Acres Pet Ranch and Fur Kids Grooming in Round Rock Texas. In the past I have owned and managed Compassion Pet Sitting, one of the largest Pet Sitting Services in the Austin, TX metro Area.
I have also worked as an Executive in Fortune 50 and Startup Businesses for the last 18 years, providing me a strong foundation of Leadership, Business, Finance, Technology, and Marketing.
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