These are the top 7 pet industry trends for 2022 and beyond.
Over the past ten years, the U.S. pet market’s sales revenue has grown annually, rising from $50.96 billion in 2011 to a projected $123 billion in 2021.
That represents a market size rise of well over 100%.
Additionally, there is still an opportunity for expansion. Which trends will fuel this increase, we wonder?
This list will help you understand what’s coming up in the pet industry, from pet food to vitamins.
The Demand for Pet Supplements
In 2027, the pet supplement market is anticipated to reach $1 billion, according to Grand View Research’s estimate.
Dog probiotics, catfish oil, and dog vitamins are a few popular pet supplements.
But CBD might be the pet supplement sector that is expanding the quickest.
In fact, during the past ten years, searches for “CBD for dogs” have increased by 300%.
Why the spike then?
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First, various CBD products made exclusively for dogs are now available.
It seems sensible that many dog owners worry about giving their pets human-grade CBD oil.
However, businesses like Royal CBD and Gold Bee have produced CBD products designed for pets that are less strong.
Second, preliminary research from Baylor College of Medicine suggests that CBD oil can aid in the treatment of canine osteoarthritis, which affects 20% of dogs over a year.
The emergence of New Product Categories
Historically, only a few product categories made up the pet industry:
Food
Toys
Beds
Leashes
Hygiene
grooming of pets
However, we’re beginning to notice a sizable quantity of innovation in the R&D of pet products.
In particular, business people don’t only introduce new versions of things already on the market.
New product categories for pets are being developed.
Pet wipes, for instance.
Pet wipes are just damp towelettes applied to animals after using the restroom. Although it’s a new category, Amazon now offers close to 300 different pet wipe brands.
Pet oral care products are nothing new. However, new solutions are being released for owners who wish to make sure that their pet’s teeth and gums are in excellent condition (like cat toothpaste).
Another company attempting to establish a new subcategory in the pet industry is Litter-robot.
The self-cleaning litterbox from Litter-Robot is battery-operated and Wi-Fi-enabled. This device, which costs $500 a unit, also capitalizes on a trend in the pet sector that we’ll discuss next: luxury pet products.
High-End Pet Products Gain Popularity
Whatever the product, there are some pet owners who will purchase it if it makes their animals happier.
Also included are some comparatively pricey luxury goods.
Take, for instance, The Bear & The Rat, a firm that sells frozen yogurt for dogs in Whole Foods stores across the country. It faces off against Purina Frosty Paws from Nestlé.
Pretty Litter is arguably the best illustration of a luxury pet product experiencing rapid growth.
According to the pH levels of a cat’s pee, a brand of cat litter called Pretty Litter changes color.
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The company says that the device aids cat owners in identifying problems in their cats, such as worms, metabolic acidosis, or a UTI. The company’s branding primarily targets millennials and Gen Z consumers.
In addition, Pretty Litter stands out because, in contrast to virtually every other brand of cat litter on the market, their product is not sold in grocery shops or pet stores.
Instead, they only provide a monthly subscription as a sales channel for their product.
Another example of a high-end pet product that is growing is cat enclosures.
Fencing-enclosed spaces called cat enclosures are made to allow cats to spend time outside. they are decreasing the likelihood of escape or danger.
Some cat enclosures might run you upwards of $1,000. Consequently, they fit within the high-end pet product trend.
Growing Number Of Pet Food Markets
Pet Biz Marketer estimates that the sale of pet food accounts for around 3/4 of the entire pet sector.
Brands of pet foods are gaining market share thanks to specialty feeds for animals.
Additionally, entrepreneurs are developing entirely new categories of pet food in an effort to gain momentum in the market.
Right now, freeze-dried dog food is one of the specialty pet food categories with the greatest growth.
The term “freeze-dried dog food” describes dog food that has been freeze-dried to increase its shelf life.
Additionally, a lot of freeze-dried dog food brands, including Bixbi, include raw food components like organic meat and vegetables.
It is challenging to package and ship these materials in pet food. Thus, the popularity of freeze-dried pet food.
According to PetFoodIndustry.com, sales of “non-traditional pet food formats” (such as freeze-dried) are increasing more quickly than those of conventional pet food.
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Another pet food market that is expanding is raw dog food.
A poll by the University of Guelph Ontario Veterinary College found that 53% of cat owners and 66% of dog owners give their pets raw meat.
The data on search trends shows this pattern. Since 2017, searches for “raw dog food” have surged by 1100%.
Pet Owners Choose DTC in Increasing Numbers
Sales of pet items jumped 51% in March 2020 alone, partly due to the epidemic.
And by year’s end, the DTC pet industry was worth an estimated $13.5 billion.
Pet owners resort to internet stores for selection, convenience, and pricing, much like with e-commerce in general.
Chewy recorded revenue of $7.15 billion in 2021, a 48.45E% increase over the previous year.
Amazon is also attempting to capitalize on the DTC trend for pet products.
Amazon reportedly sells $3.6 billion worth of pet food alone every year.
The Pet Insurance Market Is Expanding
One of the most intriguing pet market trends for 2022 is pet insurance.
The market for pet insurance was worth $3.33 billion globally in 2018 and is projected to increase by 16.3% a year through 2028.
That is why in 2020 the AI-powered insurer Lemonade introduced its own line of pet insurance.
Healthy Paws, GoPetPlan, and the charitable ASPCA are a few pet-specific competitors in the market.
Pet owners favour natural food manufacturers
43.6% of 2,181 pet owners surveyed said their pets’ health came before their own, according to the report.
Because Animals is one company capitalizing on this trend.
mainly due to Animals’ expertise in nutritious pet treats.
concentrating particularly on elements like organic ingredients and omega-3 content that owners of dogs typically seek out in their own diet.
In the near future, they will also introduce a “cultured meat” product.
Open Farm and Lily’s Kitchen are two additional natural pet food brands that are expanding.
Final Thought
That concludes our list of significant trends affecting the pet industry.
Pet health and wellness is the common theme running across almost all of these themes.
It is obvious that “pet parents” are getting more and more worried about the health of their animals. And that they are prepared to pay money to provide the best possible health for their animal companions.
We may anticipate that the industry will expand as pet ownership rises.
