Market Trends of United States Pet Industry
Increase in the Number of Pet Owners and Increased Expenditures on Pets
With the growing ownership of pets, pet owners seem to increasingly spend on service packages with more options, including food and grooming options. The desire for improved pet care products and accessories, such as pet furniture increased, and this is owing to the growing importance of pets and their related services.
According to National Pet Owner's Survey (2021-2022) conducted by the American Pet Products Association (APPA), in the United States, almost 70% of United States households own a pet, which equates to 90.5 million homes an increase of approximately 6.5% from the year 2019, and this boomed the pet care spending which has resulted in a huge increase in products and services aimed toward affluent pet owners.
The rising aging population in the United States is one of the reasons driving the growth of the market studied, as pets are considered good companions for the elderly. Customization holds more appeal to the customers, as it adds a personal touch to the pet, and this factor is expected to play a large role in the growth of the pet market. Manufacturers are using organic or natural materials for manufacturing grooming products, such as shampoos, soaps, tick powders, etc. The introduction of advanced cost-effective and customized services, rising concerns towards pet care, and an increase in health expenditure for animals in the United States are leading to the growth in the market.
The Rise in Shift to Online Pet Product Sales
The millennial who now constitute most pet owners are people who spend long hours working. This drives the demand for convenience, such as online retail channels, in the purchase of pet products and services that they use. The internet is well suited for sales of info-centric health-related products, such as natural and organic products. Internet sales channels can communicate product benefits and detailed product information through websites, blogs, and social media. The largest pet food online retailers are Petsmart.com and Pecto.com, followed by other leading retailers like PetFlow.com, PetFoodDirect.com, PetFoodExpress.com, and PetSupermarket.com.
Many smaller marketers and retailers turn to the internet as a sales medium to increase their consumer range and demand. In 2020, Hungry Bark, a Hungry Pet Nutrition brand, launched its online website offering complete custom meal plans for dogs, composed of superfood-packed dry foods, vitamin supplements for wholesome health benefits, and protein mix-ins for added variety and nutritional boost. These Superfoods for Super Dogs include four recipes of quality dry dog food, three single protein mix-ins, and five tasty dog supplement chews that double as treats. The brand's mission is entirely focused on improving dogs' and their humans' lives through personalized nutrition, directly delivering to their customer's doors.
