Millions of people host all kinds of pets in their homes, including dogs, cats, birds, reptiles and other small animals. Currently, 70% of U.S. households have a pet, which represents 90.5 million households in total.
With increasing adoption rates, these numbers should increase in the next generation. In the recent pandemic situation, where people were spending more time in their homes, they found in pets a reason to be able to be in touch, have another responsibility and mainly a companion in their homes.
Today, millennials are at the top of the list of pet owners, in part because these younger generations are growing up in households where they already live with a pet.
The booming of pet feed industry
As the number of pets is expected to continue to grow, the pet feed industry will be more valuable than ever. Future generations will have the responsibility to provide quality pet feed, including supplements, specialized diets, tailored meal plans and natural product options to help in their care and wellness.
The U.S. pet food market was worth about $30 billion. As demand for everything related to pet food grows, employment growth in this industry is projected to increase by 1.7% in 2022. Currently, it is estimated that there are about 25,000 employees related to pet food production in the United States.
Specialized products of natural origin for pets, key in the future
Processing and production make up the majority of these jobs. With the rapid changes in pet feed, including the rise of e-commerce shipments, it is likely that food packaging in warehouses will also grow.
The economic expansion of the pet feed industry will continue to grow in the long term. New competitors will appear in the market that will make this industry more fruitful, mainly based on the natural care that we can offer them, such as diets, medicines and supplements according to the times to come. Offering our pets quality products of natural origin will be one of our main requirements to take the best care of them.
At IFTA USA Inc we have a range of specialized products for pets, if you want more information contact us at marketing@iftausa.com.
Author: Felipe Mendy (veterinarian)
