Pet Humanisation Megatrend
Insync Fund Managers
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
Millennials are the largest 'pet parents'
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.
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