N.J. pets in need: Dec. 21, 2020
According to petpedia.com, trends in the pet industry continue to point to Americans’ love for their furry friends … and their willingness to part with big sums of money.
With more than 300 million pets in the U.S. it’s natural that expenditures for basic necessities would be large. The site notes that the U.S. pet food market is predicted to grow from $10.4 billion in 2018 to $13.3 billion in 2023. Part of this increase comes from concerns over healthy foods for pets, with a steady rise in the number of products containing nutrients such as omega-3 fatty acids and vitamins being marketed and sold.
“The pet humanization trend is having a remarkable impact on recent pet service industry growth in the U.S.,” wrote petpedia.com’s Sanela Puac, “which means that companies have begun offering new products that will enable their pets to enjoy life’s comforts in exactly the same way humans do.”
In addition, the COVID-19 pandemic has led to many new ideas for small businesses. “Numerous pet business ventures that are becoming more and more profitable these days,” wrote Puac. “Whether it’s grooming, training, pet-sitting, making organic pet treats and selling pet accessories online, the pet industry growth keeps making room for the newest clever idea.”