The pet industry is projected to grow from $320 billion today to almost $500 billion by 2030, according to a recent report from Bloomberg Intelligence. This industry is experiencing a dynamic surge fueled by a growing pet population and the premiumization of products and services—a direct result of the continued humanization of pets.
Our team of category experts has analyzed major pet industry trends and the key drivers behind this impressive growth. From innovative advancements in pet care to shifting consumer focus on quality and personalization, it’s clear that the industry is responding to a deepening bond between people and their animal companions.
Changes in Emotional Care
“The Washington Post reports that 47% of Americans feel separation anxiety when leaving their dogs, with 69% preferring remote work to stay with their pets. Some even feel so guilty that they get a pet for their pet—not for themselves, but to keep their first pet company.” – Carina Sandoval, LPK
Changes in Social Care
“The lines between human and pet lifestyles are blurred. Pets have main character energy on social media: reflecting and shaping their owners’ identities and influencing lifestyle choices.” – Meredith Post, LPK
Changes in Functional Care
Advancements in diagnostic technology and expanded veterinary capabilities through telemedicine are broadening the realm of possibilities for what can be done for our pets. As a result, pet owners are now tuning in to proactively make improvements to their pets’ lives with a more holistic and integrated approach to pet health and wellness.
“The category’s focus on functionality has intensified over the last 6 months, as brands increasingly incorporate trending human wellness ingredients into pet products.” – Kyle Schutte, LPK
Positioning Your Brand for the Future of Pet
The evolving pet landscape offers unique opportunities for brands:
- Focus on pets as partners in self-care: Brands can tap into the emotional connection between pets and owners by designing products and experiences that nurture these bonds.
- Reflect lifestyle alignment: By elevating pet products to mirror human lifestyle choices, brands can appeal to pet owners who see their pets as extensions of their own identity.
- Incorporate functional wellness trends: Observing and adopting human wellness trends can help brands stay ahead, offering innovative solutions that cater to the growing focus on holistic pet care.
As pets become more central to their owners’ lives, the brands that respond to these shifts in emotional, social, and functional care will thrive. The future of pet care is bright, with pets as more than companions—they are integral to our well-being and lifestyle.
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LPK IS THE LEADING CREATIVE CONSULTANCY.
Through deep discovery and beautiful expression, we help businesses know, grow and innovate for their ever-changing consumers and customers—driving future brand growth and cultural relevance.
Carina Sandoval is an expert in pointing brands forward, shaping evocative strategies that bridge the gap between consumer desires and business goals.
She is a sought-after resource for consumer research, insights, strategic foundations and brand identity development.
At LPK, Carina has helped BlueTriton Brands tap into consumer motivations for maximum brand resonance, and brought cultural insight and market expertise to The J.M. Smucker Co.’s coffee business, outfitting it for future consumers.
Meredith Post believes in being a force of nature. As Senior Creative Director at LPK, she helps brands unlock their ultimate value and guides teams to achieve new levels of creative excellence.
Meredith is a published author, thought leader and speaker, covering topics such as creative strategy, brand design and fostering a culture of creativity.
At LPK, she has worked with The J.M. Smucker Co. to evolve its iconic portfolio for changing consumer tastes, guided Anheuser-Busch AB InBev in modernizing legacy brands like Natural Light and Ritas, and built a digital-first skincare brand for Procter & Gamble.
Across complex categories and fast-moving industries, Kyle Schutte is focused on moving brands forward.
Kyle brings more than 15 years of deep expertise in brand transformation, new brand creation and consumer and customer strategy, namely in the categories of food + beverage, wine + spirits, and sports + outdoor.
At LPK, he has helped Gillette keep pace with fast-evolving consumer expectations, led Constellation Brands’ consumer journey work to sustain category leadership, and partnered with Acushnet on the modernization of Titleist, maker of the #1 ball in golf.
