Latest Trends within the Pet Industry

Over the years, the pet industry has experienced tremendous growth. Almost every household has a pet these days. Going into the future, the expectation is that our pet-owning and pet-loving lifestyle will continue to grow: the pet care market value is expected to hit $269 billion by 2025.

How do you get a cut of that market value?

If your company is involved in pet care, retail, or any related business, you need to stay up to date with the latest trends.

It will help you to keep pace with what different players in the industry are looking for. The continued growth in the industry comes with lots of opportunities, but only for those who can see them and tap into them.

In this article, we take you through the latest trends in the pet industry, so that you can take advantage of them and grow your business.

a)     Increasing Willingness to Pay More for Natural Pet Foods

More and more pet owners want products without artificial ingredients. Since such foods tend to be scarce, many buyers are willing to pay more. Organic foods, therefore, continue to enjoy high demands and prices in the market.

If you are a retailer, selling natural or organic products to your customers is definitely an option to explore. Apart from the main food supply, there is also a growing market in healthy treats and made-to-order diets or supplements.

b)     Demand For Repeated Pet Services

Pet care, grooming, transportation, and walking are services with increasing demand. The expectation is that these kinds of services will continue to grow as people will have more disposable income and less time or inclination to perform these activities themselves

One major effect of this is a boost of the subscription economy. For instance, owners are subscribing to regularly receive advice, foods, treats, and medicine from the comfort of their homes.

Adding such packages to your pet business will bring in a steady income.

c)     Technology Expectations

New developments in technology have impacted the pet industry positively. For instance, the use of smartphones has improved rapid access to information about pet-related matters.

Other examples include apps for tracking time and distance spent walking, the use of pet cameras for security, and the use of smart technology in diagnosis and treatment.

What is the implication? Customers will more and more expect the businesses they deal with, including those in the pet industry, to embrace new technologies and the opportunities this gives. If your business does not meet their expectations, chances are that you will lose customers to tech-savvy competitors.

d)     Prioritisation of Trust and Authenticity

Pet owners want to do business only with entities that can be trusted. More precisely, they value authenticity over big brands in the industry. This means that pet service providers that put animals first over brands thrive.

Further, pet companies and even small businesses that customise their services have the upper hand.

Pro tip: To build trust with pet owners, engage in activities such as pet philanthropy, promotion of safe products, and provision of free advice.

e)     Growing Interest in Palliative and End of Life Care

The demand for palliative care services for terminally ill pets is on the rise. The establishment of pet cemeteries is also a growing trend. As a result, there is growth in grief consulting as well.

Companies that, in addition to their provision of pet products, consider the desire by owners to promote the safe and painless end of life, are likely to do well.

Owners want to give the best experience to their pets while they are active and healthy, but also when they are sick and at the end of their life. 

Are You Ready to Seize the Pet Market?

If your answer is yes, then there you have it! Companies and businesses that leverage these industry trends have a greater likelihood of succeeding.

As we’ve seen, the pet industry continues to experience growth. And an increase in ownership drives the demand for more pet products and services.

So if you are a player in the industry, keep an eye on these trends! It doesn't matter whether you are a vet, pet service provider, pet products/food seller, or any other business. Make the most of the latest developments and see your business grow.