How the pet industry is providing opportunities for British based manufacturers
Even when times are tough financially, there are some areas in which people are always willing to spend. One of them is the pet industry, making it a resilient area that has shown consistent growth in recent years. With 58 million pets in the country and around £4.6bn spent on them annually, it’s an area with huge potential and it provides jobs in pet food production, manufacture, transport, technology and more.
Every pet needs food and the market for basic pet food is huge, catering to many different kinds of animal. Because some pets are fussy, there are often multiple flavours of food in demand within a single brand, and there’s a market for specialist food such as dog chews designed to protect tooth enamel. Pet medicine is another major area, covering everything from drugs to supports for injured animals, and pet housing is also in high demand, from cages for small rodents to dog kennels. Consumers also spend on bedding, grooming equipment and toys.
Alongside this market in practical items, there’s a market in luxury goods. Most pet owners like to provide occasional treats in the form of snacks, but also included in this market are luxury foods designed to provide animals with gourmet meals – or at least with what their owners like to think they’d perceive that way. Luxury clothing for pets is increasingly popular; as are manicures, dye jobs, stencilled tattoos and other forms of elaborate grooming. Many pets even have their own social media accounts and there are new online services to help them meet others in their local areas.