Overlooked global sectors: The resilience and growth potential of pet ownership

The pet care market offers moderate but stable growth prospects, helped by a constant rise in pet ownership and increase in spending per pet.

Currently estimated to be worth over $190bn, researchers expect the global market to grow by an average of close to 5% per year between 2019 and 2025.  Growth in China: Will it outlast the pandemic and trade war? The main drivers of this growth are the rise in pet ownership and a consistent increase in spending per pet. The market also features a relatively resilient profile. In the US, for example, pet care spending continued to grow even during the 2008 Global Financial Crisis (GFC). The sector encompasses strong, defensive brands and, despite some recent mergers and acquisiti...