During the pandemic, there was a strong surge in pet ownership. As people sheltered in place and worked remotely, many sought the companionship of furry friends. Although pet ownership has been increasing over the years, it rose to higher-than-expected levels during the COVID-19 lockdowns.
According to a consumer pulse survey conducted by L.E.K. Consulting, a global management consulting firm, pet ownership increased significantly in 2020 over pre-pandemic estimates. However, it is also anticipated to continue for the next three years at a higher rate than originally predicted, which is great news for the pet products industry!
9 Million More Pets in the US at End of 2020 (as Compared to 2019)
Per L.E.K., in 2020, the number of dogs and cats in the US grew by an estimated 6-7% (increasing to 149 million pets) as compared to the pre-pandemic predictions of 1-2% growth rate (or 142 million pets). As a point of comparison, total pet ownership in 2019 was calculated at 140 million pets. By the end of 2020, the number of pets in the US grew to 149 million, which represents an increase of 9 million pets in a one-year timeframe!
13 Million More Pets in the US at the End of 2021 (as Compared to 2019)
Interestingly, the original pre-pandemic estimates for 2021, also predicted a 1-2% growth rate (bringing the projected number of pets to 145 million). However, the adjusted numbers now predict a 2-4% growth rate (bringing the anticipated number of pets to 153 million), which represents an increase of 13 million pets over a two-year period!
Increased Pet Ownership Expected to Positively Impact the Pet Products Industry
The robust continued growth in pet ownership should greatly benefit the pet products industry. Pet parents will need a wide variety of pet products for their fur babies, and spending on pets is projected to continue to increase in the coming years.
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More About Natural Pet Innovations™
Natural Pet Innovations™ is a manufacturer of proprietary, natural-based, made in the USA product lines for dogs, cats, and horses. We specialize in creating turnkey private label products for our worldwide partners. We offer private label pet supplements, private label pet grooming products, private label pet specialty items, and private label pet treats. Please contact us today to learn how we can quickly and easily help you start promoting your own brand.
