Page 20 - PET worldwide issue 03/2021

Markets

A great year for pets

The market research company Mintel has presented new

and impressive figures for the American pet market.

“It seems that money really is no spending on pet food and sup- analyst at Mintel. She added that
object when it comes to the well- plies. In 2020, total sales were “in the short term, pet services may
being of furry companions,” as expected to increase by 5 per need to innovate with mobile, on-
Mintel says in its new research. 60 cent over 2019. The pet food and line, or in-home options to boost
per cent of pet owners say there is pet supplies segments saw the business, but the segment is ex-
no limit to what they will spend to greatest growth from 2019 after pected to bounce back as personal
take care of their pet’s health. 47 benefiting from a spike in sales disposable income recovers.”
per cent admit they are willing to go as owners stocked up for the The value pets bring to over-
into debt to pay for medical care. lockdown periods in the spring. all wellbeing is apparent, as
2020 has been a great year over four out of five pet owners
for pets. US consumers are fore- “Pet owners love (83 per cent) say their pet helps
cast to spend 102.2 bn dollars their pets” them stay calm during stressful
on their pets, according to Mintel. “A desire to maintain the health of times. Spoiling pets makes ani-
Over the past five years, the US pets and pamper them with high- mal lovers feel good, too, as 80
market for pet care products quality products will keep the pet per cent of owners say they enjoy
and services has shown steady market growing slowly through spoiling their pet. What is more,
According to Mintel, pets are
set to play an even bigger growth, up by 30 per cent since the recession,” said Kristen Bo- three in five (61 per cent) believe
role in Americans’ lives. 2015, driven predominantly by esel, senior lifestyles and leisure a good pet parent buys only the
best for their pet.
The majority (63 per cent) of
pet owners say they are spending
more time with their pets as a re-
sult of the pandemic and two in
five (38 per cent) say this has re-
sulted in a stronger bond between
them. But while pets have helped
consumers endure the pandemic,
for many, the return to the office is
inevitable. As consumers start to
leave the home more and return
to their pre-pandemic routines,
they will worry about leaving their
pets. 90 per cent of owners say it
is their responsibility to make sure
their pet is happy, while almost
three quarters (72 per cent) say
they feel guilty when they don’t
have enough time to spend with
their pet. n

20 PET worldwide 3|2021

PWW2021-03_Buch.indb 20 07.07.2021 13:47:23