09:52 AM EST - American Aires Inc. : Announced the launch of an innovative new product targeting the growing pet care market under the name 'Lifetune Pet'. The development of this product comes as a result of significant and ongoing consumer requests and demand, showing clear and strong evidence that individuals who are interested in Aires' products are as concerned for their pets' health as they are for their own well-being and that these individuals are actively looking for a solution. Entering this vertical exposes Aires to a completely new, and as yet untapped, market for the Company. According to the American Pet Products Association, the number of households that own pets has steadily risen over the years. In 2020 there were more than 65 million households owning a dog, while households with a cat totaled more than 45 million. An increased number of pet owners, growing demand for healthier pet food options and the trend of adopting supplemental health & wellness products for pets, is fueling the total pet care market. The total value of the US pet industry has steadily grown from an estimated $97.5 billion in 2019 to $99 billion in 2020, with expectations that this trend will continue, supported by a surge in pet ownership related to working from home during COVID lockdowns. "We are very excited about the launch of our new pet product which gives Aires access to a new revenue stream and the opportunity to service the huge market of pet owners, which continues to grow steadily year-over-year and represents an unprecedented growth opportunity for American Aires," comments Dimitry Serov, CEO. American Aires Inc.
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