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Printed: 27 March 2023 2:56 PM


23 Mar 2022 - Pet Humanisation Megatrend

By: Insync Fund Managers

Pet Humanisation Megatrend

Insync Fund Managers

March 2022

Since 1988, The APPA National Pet Owners Survey has delivered comprehensive consumer research studies about pet ownership, pet care practices and preferences in product and services consumption of America's pet owners. 

Below are some of the highlights that are particularly noteworthy -

Pet ownership is up

  • 14% brought home a new pet during the pandemic.

Spending increased

  • 35% spent more on their pets in the past year than previously.

Millennials are the largest 'pet parents'

  • and will be the largest generation by 2030.

Spending is up post pandemic, as 'pet parents' are more than ever before willing to sacrifice more of their paycheques to provide premium care and services for their pets. The $100 Bn pet industry is poised to nearly triple to $275 billion by 2030 (Morgan Stanley). An annual compound rate in excess of 14% p.a. growth.

The American Pet Products Association is a not-for-profit industry association founded in 1958 and is headquartered in Stamford, Connecticut. The APPA represents more than 1000 pet product manufacturers, importers of pet products and suppliers of products for non-pet livestock as well.

Funds operated by this manager:

Insync Global Capital Aware Fund, Insync Global Quality Equity Fund

Australian Fund Monitors Pty Ltd
A.C.N. 122 226 724
AFSL 324476
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