The sales of pet-related products and services rose 9% in 2020, and isn’t expected to slow down anytime soon. The number of dogs and cats as pets rose to 96 million and 32 million, respectively. Even as the pandemic recedes, market growth is still projected to increase over the next few years. In 2020 alone, pet food and treat sales made up $42 Billion, while “services” like Walking, Pet-Sitting, and Grooming totaled over $8.1 Billion.
While the pandemic caused a dip in discretionary pet services initially (pet grooming, pet boarding, pet sitting, pet walking, and pet training), they are expected to rebound and then some. Consumers today have a “pets-as-family” mindset and a focus on pet wellness. Millennials are projected to spend the most money on their pets in the near future – choosing to forgo the traditional family route and instead becoming “pet parents”.
The pets adopted since 2020 are your potential new customers – and many single pet owners are expected to adopt additional pets in the future. With COVID shifting existing work and work-from-home schedules, it is now easier for people to own and care for pets. This will maintain the need for a stronger pet services industry.
