Pet Industry Trends for 2022 - OmniShop

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PET INDUSTRY TRENDS FOR

2022

Mapping data across the pet industry is notoriously di cult. Unlike fashion marketing, health and wellness, and the beauty industry, no single source of market research exists. Thankfully, by coordinating resources, we can get clear answers on a number of pressing questions, namely...

How pro table is the pet industry? How much is the pet industry worth? Is the pet industry growing or shrinking? What is lacking in the pet industry? And what challenges do pet brands face?

Globally, the pet care market has grown from $216 billion in 2020 to $232 billion in 2021. An estimated 6.1% compounded annual growth rate (CAGR), will catapult that gure to $350 billion by 2027. While North America and Western Europe are mature, they still o er possibilities for an uptick in consumer purchases relative to the growth experienced worldwide. Space exists for the development of new products and especially new channels: an advantageous lifecycle stage for emerging brands to enter and thrive.

Pet Industry Trends for 2022

How Big is the Pet Industry? Global Market Size & Growth Rate

2022

$261B

+6.1% CAGR

2027

$350B

Year-over-Year Worldwide Sales

$300B

$200B

$100B

$0B

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

Pet Industry Growth by Region

Asia Paci c Australia

Middle East and Africa Eastern Europe Western Europe Latin America North America

1.0% 1.4% 2.3%

5.0% 4.2%

5.9%

9.3%

Pet Industry Trends for 2022

1.

The Boom of the Online Pet Market

While retail stores have seen a slow increase in buying, the online pet market has nearly quadrupled since 2013.

With pet ownership rates continuing to rise, the target market for the industry as a whole will expand, allowing new penetration points.

Yes, the big-box pet stores are experiencing good fortune. But, to fear the competition is to miss the way forward.

For entrepreneurs eager to penetrate new markets, pet food and pet supplies are the second and third biggest ecommerce CPG categories across the industry. The promise of prosperity is acutely high within the natural foods, animal care, and supply sectors.

Leading Ecommerce Categories in US

In millions of USD

Vitamins Pet supplies

Pet food Skin care

Co ee Weight control Cosmetics (Facial)

$3,503.7 $3,343.5 $2,232.9 $1,907.1 $1,399.8

$5,652.7

$7,401.1

Pet Industry Trends for 2022

as customer preference for shopping for pet products on ecommerce sites is estimated to grow at 9.4% -- a sizable increase over its already 13% market share.

Sales by Purchase Channels

13% Ecommerce 36% Mass, Dollar, or Club

19% Grocery

32% Pet speciality Data from

forms -- the result is an expansion of the global pet market. No surprise, the area of opportunity for businesses looking to expand market share in the pet industry is online.

Pet Industry Trends for 2022

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