Growth Does Not Appear to be a Problem for the U.S. Pet Industry

For many of us, our pets are one of our top priorities.

It’s part of the reason the U.S. pet industry just raked in $99 billion in sales for 2020. We even spend half a billion dollars nearly every year to dress up for Halloween. More than 50% of cat and dog owners gave their pets a holiday gift in 2020. Up to 69% of Millennials are opting to get their pets natural and organic products. In addition, nearly 49% of dog owners and 41% of cat owners buy premium food. In short, pets are creating big business.

Plus, according to analysts at Technavio, the fresh pet food market in the U.S. is expected to grow by $8.64 billion between 2021 and 2025. “Increasing adoption of pets in the US and the rising adoption of customized fresh pet foods will further boost market growth,” they added.

Better, the pet industry is still among the top most recession proof sectors.

In fact, according to PetCareRx, “There is no doubt that more and more people are beginning to raise pets. Spending huge amounts of money on pets is becoming increasingly common, especially in the US. Considering the fact that pet spending has grown rapidly during the three recessions goes to prove that pet care is none of the best recession-proof industries.”

Along the way, it’s helping companies, such as Freshpet Inc. (NASDAQ:FRPT), Chewy Inc. (NYSE:CHWY), PetIQ Inc. (NASDAQ:PETQ), and Petmed Express Inc. (NASDAQ:PETS).

It’s Also a Solid Catalyst for Better Choice Company (OTC:BTTR)

Better Choice Company Inc. is a growing animal health and wellness company committed to leading the industry shift toward pet products and services that help dogs and cats live healthier, happier and longer lives. In addition, the company just announce donations made in partnership with Greater Good Charities to provide support to animal shelters in Texas impacted by the devastating winter storms last week.

Following the winter storms and subsequent power outages in Texas, Better Choice and Greater Good Charities have worked together to donate meals for dogs and cats at San Antonio, Texas pet shelters in need. The donation of over 70,000 bowls of pet food will arrive this week and is a part of Better Choice Company’s philanthropic efforts to improve the well-being of pets and the people who love them.

“In times of difficulty, it’s really important for businesses to step up and help serve the needs of our communities,” said Scott Lerner, Better Choice CEO. “After hearing of the challenges that the people of Texas were facing and the succeeding difficulties for local shelters, we knew that we needed to come together and find a way to help. We are glad to have a longstanding partnership with Greater Good Charities who assisted us in finding local shelters in Texas to allow for a quick delivery of the pet food they desperately need at this time.”

Denise Bash, Director of Disaster Response at Greater Good Charities commented on where specifically these meals will be sent and how meaningful this type of support is to affected communities: “We are incredibly grateful for the generous donation of food from Better Choice to assist rescues and the public in Bandera County Texas and neighboring communities.  This critical supply of healthy food will support owed, displaced and adoptable pets who now need assistance and Meals on Wheels of Bandera County, whose pets and families are struggling due to this disaster and COVID-19." 

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