Did you know that your pet can make you a lot of money?
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Investing in areas with future potential is usually favorable for the investor; however, investing in the protection of what you love is even better, since it represents a benefit beyond the financial.
According to figures from Grand View Research, the global market for pet care services and products is currently growing at a rate of approximately 5% per year. According to a report by ProShares, the industry is expected to reach $350 billion by 2027, the increase can be attributed to the trend of pet humanization.
Another key to the pet care industry is that it remains stable even in periods of crisis; that is, if a pet becomes ill, it will be cared for in the best possible way, regardless of the economic situation. In this regard, it is estimated that Americans spend more than $70 billion a year on pet care.
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According to data from the American Pet Products Association (APPA), more households have pets than children, as only 33.5 million U.S. households have children, while 84.9 million have pets. The number of households with a dog or cat is expected to increase by 14% by 2030.
According to GfK figures, 56% of the world’s population has at least one pet at home. Latin America is the leading region, where 80% of Mexican and Argentinean respondents have a pet, as well as 75% of respondents from Brazil. The next countries on the list are Russia, where 73% of the population has a pet, and the U.S. with 70%.
The Asian continent, meanwhile, is where people have fewer pets. In Japan only 37% said they have a pet at home, in Hong Kong 35% and in South Korea just 31%.
On the other hand, the world leaders in trained dogs, according to Euromonitor data are: United States, Brazil, China, Russia and Japan.
Companies and investments
In the last five years, the industry’s listed companies have shown an average return of more than 140% and forecasts estimate that this will continue to grow. Behind these numbers are companies specializing in medicines, insurance, fresh and chilled food and treats for both dogs and cats.
In this sense, although there are more and more innovations in the sector, the market is basically divided into the following areas for investors: food, veterinary or animal clinic, pharmaceuticals, vaccines, grooming, accessories, hotel, daycare and training.
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