With people treating their pets more and more like family members, the pet industry continues to see a rise in premium products and services.
Americans are more eager than ever to give their pets everything they need to keep them healthy and happy. The pet industry has seen spending increase dramatically year-over-year. Consumers spent $95.7 billion on their pets in 2019 and are estimated to spend $99 billion in 2020.
Source: American Pet Products Association
According to pet industry trends and projections, the pet industry will continue to grow with no signs of slowing down. While the forecast is strong across every category, some segments are seeing a significant amount of growth. Here are the top trends to look out for in 2021.
As the humanization of pets continues to spread, pet owners want their pets to eat as healthy as they do. Pet parents look for clean, less processed foods with a health focus.
Top trends in pet food include:
Natural products, both for pets and humans, continue to gain popularity. People are passionate about improving our planet’s health, and they are wary of the toxicity of synthetic chemicals and harmful materials. To decrease their pets’ carbon paw prints, pet parents choose natural pet products.
Top-selling natural pet products include:
Pet health insurance is considered the best way for people to afford their pets’ more costly and unexpected medical needs. According to Grand View Research, the global pet insurance market size was estimated at $3.8 billion in 2019 and is expected to reach $4.4 billion in 2020.
This trend continues to grow due to:
Mobile pet grooming has seen substantial growth over the past few years, and with people spending more time at home, growth has continued to rise. Mobile pet grooming gives groomers the ability to perform a full range of services right outside the pet parent’s door.
Mobile pet grooming is popular because:
Another rising trend due to people regarding their pets as family members is pet-friendly travel. Pet parents want to take their beloved furry family members with them on vacations, and therefore, they are planning vacations around their pets.
An increasing number of hotels, Airbnbs, and resorts welcome pets. Pet-friendly travel sites help pet parents plan where to stay and what to do with their pets on vacation.
These are just ten examples of pet industry trends to look out for in 2021. As pet parents are projected to spend even more on their pets year-over-year, there is ample opportunity to grow in the pet industry for various pet products and services.