Based on recent industry figures, things are looking up for the animal health market, says Graham Garrison, who shares industry figures and estimates that bolster confidence in the pet care segment.
<factors contributing to U.S. pet industry growth> include a heightened focus on pet health and wellness among pet owners in closer contact with their pets, a ramped-up reliance on digital pet care including online shopping, and the impressive adaptability of consumers, marketers, retailers, and service providers.” – David Lummus, Packaged Facts
Source: Veterinary Advantage, July 2022. Link.
INSIGHTS: The numbers don’t lie, nor do their sources. Pet spending is a significant consumer category developing from the human animal bond and driven by growth in pet food, treats, veterinary care and product sales heavily supported by online access and options.