How The Pandemic Helped the Pet Industry Explode with Pet Product Sales

February 10, 2022

Ever since the start of the late 2019 pandemic, people started spending more time in their homes -- whether they wanted to or not. And many people have taken this opportunity to begin adopting and raising many four-legged companions. Personally, my family is crazy about dachshund’s and golden retrievers, but the list of options is endless, from cats to hamsters to pigs. The pet care market surpassed $232 billion in 2020 and is expected to grow at a CAGR of 6.1% between 2021 and 2027.

global market insight pet industries

For this article, let’s discuss the top reasons the pandemic is an absolute boon for the pet industry and its latest trends.

Let’s get started!

Pet Ownership During the Pandemic

As per a recent survey by TD Bank, 65% of Americans own at least one pet, with dogs (48%) and cats (32%) being the most popular choices among all generations.

Another survey by BeChewy found that 977,202 pets were adopted in 2021, resulting in a 61% adoption rate, which is the highest in the past six years.

Additionally, eCommerce sales of pet food and treats spiked to $828 million in March 2020. This is a 77% increase from the previous year.

This increase in the pet adoption rate and food product purchasing is good news for the pet industry as a whole. Whether you sell pet food, accessories, or offer pet care services, your business is likely to see significant growth in the future.

Why Did the Pet Industry See a Growth During the Pandemic?

Now that we have run through the statistics highlighting the increase in pet adoption, let’s understand the reasons behind it.

1. Pets are recession-proof

The pet industry has seen steady and significant growth in the last 30 years. And with pets increasingly viewed as family members, the money that people spend on pet’s will likely continue to rise in the coming years.

For instance, in 2010, the total money spent on pets was around $45.53 billion. The spending has jumped to $90.5 billion by 2018. The number further increased to $109.6 billion in 2021.

This indicates that no matter the current global conditions, the pet industry will not see any slowdown anytime soon.

2. Pets offer comfort

Pet owners can relate to the fact that pets can help a lot with mental-well being. I mean, come on, who can resist these adorable four-legged humans. Apart from providing companionship and comfort, pets also fulfill the human need for touch.

According to scientific research, interacting with a dog or a cat lowers your blood pressure and cortisol levels. It also helps stimulate oxytocin, serotonin, and dopamine, thereby helping our body relax and stay calm.

And when people are comfortable, they are more likely to buy products and food supplies for their dogs and cats, which is evident in the data.

3. Pets need care

No matter how much we love our pets, we cannot spend 24 hours a day with them. As a result, the demand for toys and treats, monitoring systems, ability to talk to your pet while at work, and many other products, have increased significantly. Combined with the growing availability of pet supplies online, the sector has been seeing rapid growth for the past decade.

Investing In the Pet Industry

With pet ownership and consumer pet product spending on the rise, 2022 is the right time to invest in developing online technology that supports the pet industry growth surge. Over the past decade, pet food, toys, accessories, and health offerings have greatly increased to meet rising consumer demand.

However, it is worth mentioning that you need to leverage technology to grow your pet industry. You will need a website and mobile app to reach your customers to capture sales, and when you do, you will need the right mobile app or web application developer in Scottsdale who can get the job done.  Don’t worry, you won’t have to spend hours finding them.

Scottsdale Bizz is a leading mobile app development company in Scottsdale, and we can help you build and grow your pet business. Want to learn more? Give us a call at 623-845-2747 to talk with one of our mobile app experts who are ready to help you develop a tailored solution for your growing pet business.

Article References:

Gminsights: https://www.gminsights.com/industry-analysis/pet-care-market
Chewy:  https://be.chewy.com/thanks-to-animal-shelters-and-rescues-nearly-1-million-pets-found-homes-in-2021/
Amtd: https://www.amtd.com/news-and-stories/research/research-details/2020/pets-and-finances-survey/default.aspx
Edition: https://edition.cnn.com/2020/04/24/business/chewy-sales-coronavirus/index.html
Statista: https://www.statista.com/statistics/253976/pet-food-industry-expenditure-in-the-us/

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