5 Biggest Trends in The Pet Industry

Pet

People love to have pets in their house and treat them like their best friends. If you are curious about the top dog breeds in 2021, then you can read an informative blog here https://www.petculture.com.au/articles/top-dog-breeds-2021 and learn about it. There are multiple more blogs that you can read to get information about dogs and which breed you should prefer. When you get deep into the ocean of pet care, then you realize that there is much more you need to know about the pet industry. One of the things is to know about the trends in the pet industry which is going on.

The pet industry is booming, unaffected by the pandemic, almost 85 million households have pets over the last 30 years. The Pet ownership rate has increased from 56% to 68 % in all households, digital-first rose more in lockdown. Pet industry trends often reflect broader themes seen in human-focused industries, like wellness, convenience, and personalization. 

For example, according to American Pet Products, pet food alone stands as a $36.9 billion market in the U.S. Moreover, the veterinarian care and product sales are worth $29.3 billion. In addition, other services like grooming and dog walking cost another $10.3 billion, the numbers increasing every year.

Pet owners are a lot knowledgeable and informed about pet products ad services in recent days. Some changes have come due to technology and the advent of online purchasing, but mostly due to culture. Gen Z consumers, who are adults now, are interested in pet-owning more than their elders. These consumers prefer convenience, ease, and a seamless experience when shopping, and thus go for digital platforms.

They are well informed about brands and also expect rapid and personalized communication online. Also, these youngsters make appointments, ask questions, and shop, all from their smartphones.

1.Pet subscriptions

Though subscriptions technique is there in the market for aeons, mainly for meal plans and fashion/beauty products. But now, younger owners mainly are targeted, and tempted, with subscriptions for monthly boxes of goodies, or pet clubs. There are also deliveries of supplements and medicines for their fluffy animal. You can also get these if you try buying pet food in Australia.

Now, almost a third of all total pet owners are millennials, and online shopping is their forte. So, they browse and buy, and can easily personalize and customize their subscriptions, making it a hit. Pet-based subscriptions are a huge hit and popular trend with pet owners these days. Moreover, as this generation of consumers is digital-first, companies need to keep their website and social media updated. 

2.Pet supplements

CBD is a rage in recent days and thus has entered the pet industry as well. CBD is incorporated with everything from treats to supplements and topical oils, the demand is high and the market competitive. According to Exploding Topics research, the ‘CBD for dog’ search is up by 7400% in the past 5 years.

The demand for CBD for humans or pets is not going down any time soon. So many young entrepreneurs are coming up to create pet CBD products & selling them via the DTC model to fulfill this need. These companies provide high-quality products, nice packaging, a compelling founder’s story, and lab reports for trust purposes. You can also have a look at these while buying pet food in Australia.

3.Pet Tech

Tech is trending for years but is taking off in the pet care industry recently. Now, pet owners arrange daycare, grooming, pet sitting, or simply find pet-friendly destinations for travel through apps for their pets. So, pet care businesses of all types deliver mobile-friendly services and maintain personalized online profiles for owners and their pets.

Moreover, other than these, companies launched new tech-based pet products into the market, like video camera systems. This allows the absent owners to monitor their pets, and also robotic, self-cleaning litter boxes, and microchip enabled pet doors. Furthermore, technology came up with wearables for pets, such as camera harnesses for dogs and Bluetooth-enabled smart leashes. This helps to monitor your pet’s activity levels while walking them, or making them do any activity. You can get this also while buying pet food in Australia.

4. Continued growth

You have already seen that the pet industry is recession-proof, but it turns out to be pandemic-proof, too. Pet owners take great care of their pets’ health and well-being and don’t skimp in paying for their good. They spend on anything good they find for their adorable, from food and supplements to grooming, daycare, and medical care.

Not surprisingly, lockdowns and other public health measures, have impacted the earnings of some pet care businesses. But as more people are growing as pet owners in this crazy & lonely time, there won’t be any major slow-down. Despite the bad state of the overall economy, people are still spending on pets unaffectedly.

5.E-commerce (DTC)

The direct-to-consumer market is another pet industry e-commerce trend, & you can also try this while buying pet food in Australia. These are mostly specialty stores and these companies focus mainly on building relationships directly with the consumer. They aim to provide a product and experience that are exclusive and customers don’t get that anywhere else.[adsense]

These companies are digital-first and they innovate their products and services with the help of consumer feedback. Unlike those large, established brands, they don’t spend months on a new product & then advertise it with an expensive marketing campaign. Instead, these DTC companies are nimble and are constantly testing & tweaking their product (s) based on the customer’s wants & needs. 

By now, you may have probably experienced at least some of these pet industry trends for yourself and your pet. At the heart of these lie convenience, wellness, and customization, which the companies and the customers are aiming for.