Retailers, pet care centers, grooming salons, boarding facilities, and pet insurance providers are complementing and bolstering core services with new offerings.
The report examines opportunities in this market for growth, with health and wellness-focused offerings and value propositions at the top of the list.
Viewing sugars or carbs as “the enemy” has led many people to follow diets that reduce or eschew them, including the newer paleo and keto diets.
As of 2023, overall usage rates for veterinary services among dog- or cat-owning households are at 71%.
Packaged Facts forecasts that the US cheese retail market will grow steadily, reaching $27.8 billion in 2028.
Energy drinks purport to provide functional benefits including increased energy and boosts in cognitive function/brain activity.
“Many believed in the inexorable slow death of store cards, the product has been reinvigorated by new competition and product innovation.”
Consumers also increasingly want and expect products with “better-for-you” attributes that are perceived as more nutritious or healthful.
U.S. retail sales of pet treats (including sales through brick-and-mortar stores and online retailers) reached $11 billion in 2022, according to Packaged Facts’ just-released Pet Treats and Chews in the US, 5th Edition report.
Pet health and wellness remains an ongoing concern and focus of attention among pet owners, helping to push US retail sales of pet medications to $12 billion in 2022.