The market research company Euromonitor considered the pet industry as important in 2021. This is a result of a study as part of a yearly research which deals with the 10 most emerging and fast-moving trends.
According to a recently published report, the current situation brings consumers to make a so called The Great Life Refresh, which means to change your view on values, goals and personal development.
“Change will remain the dominant trend that characterizes lifestyle shifts in the short term. Activities and products that positively impact mental and physical health, such as adopting pets or having the ability to travel while working remotely, are influencing purchase decisions,” it reads.
Euromonitor regards pet adoption as one main point to keep the society’s mental wellbeing during the pandemic.
“Pet adoptions skyrocketed, and global pet care sales growth doubled from 2019 as more consumers looked for companionship.”
According to the data of Euromonitor International, there is a radical increase of global pet care sale since 2019. In 2019 the sales were at $130 billion (€114.8B), while in 2021 the sales hit the $150 billion (€132.4B) mark.