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MAR/APR – SPRING 2024 Meow. Woof. Chirp. Peep. Squeak.

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JUL/AUG – SUMMER 2023

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SEP/OCT – FALL 2023

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SALES EXPECTED TO REACH $190 BILLION BY 2027

TThe pandemic has undoubtedly changed our lives in many ways, including how we interact with our pets. For many, pets have been a source of comfort and companionship during times of isolation and uncertainty. Consequently, the pet industry has seen a significant boost in sales over the past two years, with growth rates reaching as high as 13.7% in 2021.

However, as we enter 2023, the growth rate has slowed to 9%, largely due to inflation. Nevertheless, the industry has remained resilient and has continued to outperform other consumer markets. In fact, according to surveys conducted among pet owners, pet products and services are among the last items to be cut from household spending, second only to human medicine and healthcare. This reflects the deep commitment that Americans have to their pets and their willingness to invest in their care, despite higher prices.

Moreover, the industry has been evolving to adapt to changing consumer needs and preferences. The trend toward omnichannel and minimarket directions has been gaining momentum, while mergers and acquisitions and investment activity continue to be strong. As a result, industry analysts predict ongoing growth across all pet industry sectors through 2027, with sales expected to top $190 billion.

Several trends are expected to drive this growth. One of these is premiumization, as pet owners increasingly seek high-quality, specialty products and services. Another trend is health and wellness, with an emphasis on natural and organic products and preventative care. Sustainability is also becoming a key consideration for many consumers, with demand for eco-friendly products and packaging on the rise. Finally, digital innovation and e-commerce are transforming the industry, as consumers increasingly turn to online shopping and delivery services for their pet needs. This trend has only accelerated during the pandemic, as consumers sought to minimize their trips to physical stores.

Given these trends and the continued growth of the pet industry, now is a great time to invest in a pet franchise. The industry offers a range of opportunities, from pet grooming and daycare services to specialty retail stores and veterinary clinics. Our TOP 100 Pet Franchise companies list is a great place to start your research, with many informative articles and links to company websites. So, if you're looking for a rewarding and profitable business opportunity, consider investing in the growing and resilient pet industry.

In conclusion, while the pandemic has presented many challenges, it has also highlighted the importance of pets in our lives and the resilience of the pet industry. As consumers increasingly prioritize their pets' well-being, the industry is poised for continued growth and innovation in the years to come.