The pet industry is worth over $106.3 billion, and organic food is in high demand!

During the pandemic, many people chose to keep pets to relieve the loneliness caused by isolation. As a result, the sales of pet products have also increased in the past two years. The value of the pet products industry has now exceeded $106.3 billion. Despite the challenges of supply chain, raw material costs and labor, industry insiders believe that the pet industry is still expected to achieve stable and sustained growth.

According to the latest survey by the American Pet Products Association ( APPA), most pet owners who started raising pets during the epidemic are from Generation Z or Millennials. And compared with owners of other generations, they are generally more willing to spend more on their pets.

Although the epidemic has improved, according to the survey, more and more pet owners are buying pet food online. 16% of owners bought their most recent pet food from an online store, which is an increase compared to 13% in the same period of 2020.

More pet owners are purchasing pet food, toys, grooming products and other supplies through online ordering and curbside pickup, with 19% of consumers saying they order pet food online and have it delivered directly to their homes, 15% saying they order online and pick it up curbside, and 6% choosing to order online and pick it up in-store.

This phenomenon shows that pet owners’ channels for purchasing related products are no longer limited to physical stores. Therefore, in order to adapt to consumers’ changing purchasing preferences, more and more independent pet stores have added online ordering and curbside pickup services.

The vast majority of pet owners regard their pets as members of the family, and will look for healthier and more delicious food for them, and have higher requirements for the taste of pet food.

The global pet food industry is expected to grow at a compound annual growth rate of 4.6%, becoming one of the fastest growing industries. In the United States, 70% of households have at least one pet, and they spend between $329 and $442 on pet food alone in a year.

Among them, vitamins and supplements for improving pet immunity are a promising market. As many pet owners pay more attention to their pets' health, sales of such products are expected to increase exponentially. In addition, as the proportion of pet obesity increases, the demand for food related to weight management for cats and dogs is also increasing.

It is also worth noting that organic pet food is popular among millennials. Due to the additives contained in some pet foods, the demand for organic pet food is increasing. This market is expected to grow by 10.6% in the next four years . In response to this demand, nutritionists continue to work on improving the taste, texture and quality of pet food.

Although high-quality pet food is relatively expensive, there are signs that pet owners are willing to pay for it. Therefore, it is expected that the pet food industry will continue to expand in quantity, scale and quality in the next few years, and sellers can also seize the opportunity to "make a fortune" in this category .

Pet Products

Organic pet food