The new “pet parent” phenomenon has increased demand for specialized pet products and services in recent years. These types of pet owners treat their four-legged friends as family members and they are willing to pay a premium to keep their pets safe and happy. According to the American Pet Product Association’s (APPA) National Pet Owners Survey, the average dog or cat owner spends between $200 and $300 annually on food for their pet.
How big is the Pets market opportunity?
According to IBISWorld, the number of pets in the U.S. has been increasing since 2015 and will continue to increase through 2021.
Pet food and pet supplies generate the largest proportions of pet store industry revenues.
Why do you need a Pets industry business plan?
Why you should engage PlanIt Business to write your Pets business plan?