Pets have always had their special place in society but today, their role is more important than ever before. There is also a heightened awareness of animal welfare among common people which leads to increased adoption and caretaking of furry companions.
With over 8 million pet owners in Australia, the pet industry is definitely booming. According to Pets Australia, the pet industry was estimated to be $6 billion dollars in 2009 and grew to $7 billion by 2012, now the industry is at its highest point with a worth of $12.2 Billion with continuous growth. As the industry grows, the Yummi Pet brand strives to grow with it.
The Pet Industry Now
While pet owners have treated pets like family members in the past, the statement is even more significant for the millennial generation. The new generation who has reached adulthood are more likely to spend time and money on their furry companions instead of having kids early. Much of this can be attributed to the growing awareness of animal welfare and the positive effects of animal companionship on humans.
Here are a few statistics to put things into perspective:
- More than 62% of Australian households own a pet with 38% dog owners and 29% cat owners.
- 59% of people who do not own a pet want one in the future.
- Australians spend more than $12 billion each year on pet products and services.
- Dogs are the most common pet with $7 billion spent followed by cats with $4 billion.
- There are approximately 38 million pets in Australia which is more than the Australian population.
The Future of the Pet Industry
The already booming pet industry is all set to grow in the coming years. It said that the industry is expected to grow by about 4 per cent a year. Pet products such as pet food and accessories will remain to be the most popular niche with a 13% value growth until 2020 as compared to 2015. The trend of providing premium care, specialised services and pampering for pets will also be on the rise in future years.
Growing with the Industry
As owners become more conscious of the products that come into contact with their pets, the need for high quality and healthy pet products increases. The Yummi Pet brand seeks to fill this void we currently manufacture over 90% of our Food and treats lines that guarantee health and happiness among pets.
The growing desire to give pets a better life is right in line with our philosophy – Get your pet’s Lick of Approval. Yummi Pet will continue to supply a diverse range of healthy and fun-filled products to meet the growing demands of a pet industry on the rise.