Thursday, February 22, 2024

The Channels Driving Growth in the Pet Care Market

The pet care market is growing at a rapid rate, with Fortune Business Insights reporting growth from $246.66 billion in 2023 to $368.88 billion by 2030. Clearly, we’re not alone in loving our pets, with a compound annual growth rate of 5.92% nationwide

We know that wearables, food, and toys drive that growth. We’re also more aware of the importance of animal welfare and well-being. However, not everyone knows the channels contributing to the fast-expanding market. In the United States, these distribution options are leading the way: 

The Online Market

Online shopping is convenient. So, it makes sense for the online market to be a significant channel driving growth in the pet care market. More people than ever before are pet blogging with affiliate marketing. This allows shoppers to enjoy substantial discounts that benefit their pets and their wallets. 

Alongside being well-informed through pet blogs, shoppers can also enjoy the convenience of delivery services through their local grocery stores. However, even eCommerce pet businesses are proving popular with pet owners. Many of these businesses offer subscription-based services and discounts for regular purchases beyond what you might receive from in-person stores. 

Supermarkets and Hypermarkets

Supermarkets and hypermarkets might not always be the most affordable option when you can’t take advantage of subscriptions for discounts. However, they remain among the fastest-growing channels for growth. 

Supermarkets and hypermarkets provide pet owners with an expansive variety of pet care products. Generally, they have everything from food and treats to wearables, bedding, and toys. The variety and the convenience of being able to shop for your pets and yourself simultaneously contribute to market growth. 

Pet and Specialty Shops

Approximately half of pet owners in the United States regard their pets as part of their family. With that in mind, many owners prioritize their pets’ health and wellness by buying products from pet and specialty shops. 

Pet and specialty shops generally have a broader range of pet care products than your average supermarket. In particular, these stores stock products for skin, weight, dental, and mood. They also tend to be operated by passionate and knowledgeable people. This can allow for a more enjoyable shopping experience. 

Butchers

Protein-rich diets during and post-pandemic are already contributing to butcher shop growth. This market declined initially due to supply chain disturbances during the COVID-19 pandemic. However, it regained ground with a 3.21% CAGR for the 2021-2028 period. 

In saying that, it’s not just human-grade meat contributing to growth. Many butchers have branched out into pet products to cater to pet owners adopting raw food diets. In fact, global demand for raw, fresh, and frozen dog food resulted in a CAGR of over 5% for the 2023-2033 forecast period. It’s believed that this market is growing due to mindful consumer choices, technological advancements in pet nutrition, and an overall increase in pet ownership. 

It’s clear to see we love our pets and would do anything to keep them happy and healthy. As a result, we’re contributing to significant market growth in various distribution channels across the pet care market.