According to estimates, the pet-friendly industry will grow to 2.7 billion dollars by 2022, and a powerful driver in this industry is tourism.
The size of the global pet insurance market is projected to reach $11.61 billion by 2027, up from $4.785 billion in 2020.
Companion animals have a long list of advantages for people of all ages, but older adults are among those who benefit most from them. Among some of the benefits, company, physical and mental activity, and stress reduction stand out. For this same reason, the percentage of people who acquired pets during the pandemic is considerably higher compared to previous years.
The pet care industry is expected to reach $350 billion by 2027.
Cryptocurrencies, new technologies, circular economy, smart cities and pets are just some of the most profitable investment ideas New Gen has for you.
Megatrends are transformative forces whose impact is perceptible by an important segment of society for a prolonged period of time, mainly in the business and economic fields.
Technology has powered virtually every industry. Among them, veterinary medicine continues to evolve thanks to technological advances that have put the welfare of pets and animals ahead, investigating their diet, way of life and necessary care.
The well-being of pets or companion animals is nourished by many elements, including their nutrition and health. For this reason, the search for companies that specialize in improving the quality of life of companion animals continues to grow and BBVA New Gen connects you as an investor with industries of interest to you.
Pets represent a decision variable when choosing to invest in a house, in a car, in travel, in their own care or simply in leisure activities.
The so-called 'humanization of pets' keeps the pet health and wellness sector on the rise, with an estimated annual growth of around 5% in the global market for related products and services.
Technological advances have taken research into the human genome to a new level where it is claimed that the cat genome is more similar to that of humans and can make a difference by becoming the key to preventing and curing diseases.
One key to the pet care industry is that it remains stable even in times of crisis; that is, if a pet gets sick, it will be taken care of in the best possible way, regardless of the economic situation.
The pet care industry ranges from veterinary pharmaceuticals, diagnostics, product and service distributors, food manufacturers and supplies of all kinds. The industry is expected to grow from $232 billion in 2020 to $350 billion in 2027.