If you are a pet lover, you will surely know the Top 10 Most Famous Endangered Animals in the World and the Top 10 Best and Most Popular Dog Breeds for First Time Owners. So we know pets are companions, protectors, or best friends of people, and people usually spend more money on pets for their well-being. This reflects in the growing pet industry. So, the World’s #1 Source of Research-Based Content, The Daily Top 10, let’s find out the Top 10 World’s Best Pet Industry News and Trends in 2023.
Increasing trends in the pet industry are not just limited to food and treats. Accordingly, new pet industry trends are associated with various aspects like pet health, wellness, grooming, and accessories. Alongside the pet industry and its trends changing drastically, the pet product landscape is more diverse than ever. As a result, the needs and desires of pet owners are also changing fast. Hence it is good for our pets, and people who own businesses catering to the pet industry because the pet industry market size is expected to increase substantially over the coming years.
Pet owners are increasingly eager to provide their pets with high-quality products and services. In addition, due to consumers’ demand for specific benefits from those products, brand owners tend to expand their offers. Meanwhile, luxury brands associated with pet accessories, toys, and pet clothes are also beginning to enter this industry today. So now let’s take a detailed look at the Top 10 World Best Pet Industry News and Trends in 2023. You will also be interested to read the Top 10 LGBT News and Trends You Should Remember-in-2023.
What is the World’s Best Pet Industry News and Trend in 2023?
Since the bond between pets and their owners is strong, it increases the pressure on new pet products and services. This demand paves the way for innovations in the pet industry. Since companies try to find responses to the diverse needs and high expectations of modern pet owners. With this industrial growth, new trends like pet and owner-matching accessories, human-grade pet food, and veterinary telehealth start to emerge.
So now let’s dive into the trends that can make a great impact on the pet industry this year. But before we identify the Best Pet Industry News and Trend in 2023, it’s time to check out the rest of the trends and news in our list.
TOP 10: Launch of New Pet Technology
There’s a wave of high-technology pet products that can be seen with the growth of the pet industry this year. So, those devices can range from single-part products to pet houses with air conditioning. According to Question Pro, safety related to pets is the major aspect behind the development of pet technological devices. Pets are like part of the family for their owners and therefore, ensuring the security of their pets is an essential fact.
In addition, modern pet owners prefer to automate pet management tasks. Among them, feeding, and checking pet health care are prioritized, through certain technologies, and the global pet tech market is associated with segments like products, apps, end-user technology, etc. What is more, many companies have introduced new wearable technology that allows pet owners to monitor their pets.
TOP 9: Popularity of the Pet Grooming Market
As mentioned in Market Watch, the pet grooming product market is projected to reach multi-million USD within the period between 2023 – 2029. It does not only refer to aesthetic aspects, but it’s an important part of ensuring your pet’s health and wellness. The process involves keeping their ears and nails in check because it helps, in the long run, to make sure that your pet is out of health complications.
Moreover, the pet grooming market has a huge demand due to the increasing awareness of the health and hygiene of pets. So, here the dominance is primarily attributed to the basic hygiene of the companion animal. In addition to this, increasing sales of pet grooming products through online platforms have also influenced the growth of the pet grooming market this year.
TOP 8: Growth of the Pet-Sitting Market Size
According to Fact Mr, the rise of the aging population and also the increasing trend of having no child and being single can be identified as major reasons behind the growth of the pet-sitting market size. It has developed with the integration of technology. It enhances the use of technology by the owners and the market players making the process easy and it has helped to increase the overall market value also.
In the past, it was difficult to find pet-sitting service providers, but now it can be reached within a short period. Being involved in the pet-sitting industry doesn’t require any degree or qualifications. Therefore many small or medium enterprises also can have a considerable market share regionally. So, pet sitting can be identified as an emerging pet industry trend in 2023.
TOP 7: Demand for Natural Pet Food Brands
The pet food industry is subject to significant changes because even though the pets’ interests don’t change, the interests of the pet owners change with time. So there’s a huge demand for pet food along with the rise of pet ownership. According to Apec USA, about33% of households own a pet, around the world for this year. So this has paved the way for great pet food trends.
Alongside, more pet owners are interested in natural ingredients as mentioned in Apec USA. The natural pet food market is classified into segments such as dry organic food and wet organic food for pets. These natural foods contain organic ingredients out of chemicals and harmful fertilizers. Apart from that, the wide availability of natural pet food through distribution channels as an e-commerce aspect also tends to emerge the growth of natural pet food brands.
TOP 6: Growth of Pet Insurance Space
With the delivery of customized insurance coverage for pets, pet insurance space size exceeds. According to the Business Research Company statistics, the global pet insurance market size would grow from $6.76 billion to $7.82 billion in 2023. Advancement and awareness in pet insurance are key trends in this market.
Amidst Trupanion inc can be identified as the major player in this pet insurance market. When considering the market value of pet insurance, includes the value of related goods that are being sold out. Additionally, factors like the adoption of animals, the prevalence of diseases among animals, etc are expected to create segmental growth in the pet insurance space in 2023.
TOP 5: DTC Trend
As a personalized and holistic option suitable for any unique set of pet needs, DTC has become a major pet food brand in the market. Here, DTC defines Direct-To-Consumer it is segmented according to the supplement, the pet type, health condition, distribution channel, and geographical location. As stated in Globe News Wire, DTC has become popular due to the growing adoption of digital channels.
In recent years, the DTC pet food market has launched several products, partnerships, acquisitions, and expansions. And many key players operate the DTC pet food market, namely, Nestle, general mills, Mars, etc. In addition, many companies use DTC trends to reduce their distribution costs and improve revenues which proves DTC to be a successful model for new pet brands.
TOP 4: Emerging New Pet Accessories
As per Omnishop App stated, the global pet accessories market has been estimated to be from USD 18.25 billion to USD 30 billion by the end of 2027. It predicts substantial growth of the pet accessory market between 2023 to 2028. Technology will also be part of accessories for pets this year because more pet owners want to have collars with trackers for their pets, automatic food, water pet bowls, etc.
With the advancement of technology, there is an emergence of multiple accessories that would keep your pets busy. Alongside popular accessories related to human-grade dog food, veterinary telehealth has created a global pet market growth rate, day by day. Therefore investing in pet accessories in 2023 will help you build a path of success in the pet industry market.
TOP 3: Emerging Pet Mobile Apps
Our pets are pretty much family members, and people are willing to shell out money on high-quality apps that can help them care for and keep track of their pets. Pet mobile apps offer their owners many facilities by today. For example, we can mention the ability to track their pet’s health habits, monitor play time, connect with pet care services, etc.
While most of these apps are specific for cats and dogs, many other apps are there for all types of pets. According to Tbr Group, a pet mobile app or pet care app implies two sides of interaction; pet owners and veterinary clinics. So, it is evident that pet mobile apps have revolutionized the whole pet industry today and they would have an outstanding demand this year and future pet industry.
TOP 2: Sustainability
Pet owners consider the environmental impact of all their consumer choices concerning the climactic crisis. For example, what they feed their cats and dogs, and how those products are packaged. It is also highlighting the need for locally sourced ingredients to reduce the embodied carbon in pet food products.
According to Five Pet Food Trends, pet owners are concerned about making the right choices for both their pet’s health and for the environment in Germany, for example. Furthermore, this sustainability trend is driving product development with alternative proteins. So, pet owners want their pet diets to deliver sustainability without compromising on pet health.
TOP 1: Premiumisation
The impact of the pandemic continues to influence the way we value and interact with our pets. Why we said that is during the isolation of lockdowns and travel restrictions, pet owners became closer to their cats and dogs than ever. So, this pet companionship has accelerated the trend toward premiumization in pet food.
According to CD Foods, spendingmore time together with pets in turn is building on pet owners’ desire to ensure pets eat a high-quality diet of food that is both enjoyable and healthy. It created thistrend which is driving growth in the value of the wet food segment. Alongside, there is a focus on selecting natural, healthy foods in preference to overly processed varieties. So, Premiumisation is the World’s Best Pet Industry News and Trend in 2023.
What are the World’s Best Pet Industry News and Trends in 2023?
The Pet industry and its trends changed drastically while the pet product landscape is more diverse than ever. As a result, the needs and desires of pet owners are also changing fast. Amidst, some trends from 2022 remain on top in the following year, and some trends are predicted to be here with us until 2025.
Here is the list of the Top 10 World Best Pet Industry News and Trends in 2023:
- Emerging Pet Mobile Apps
- Emerging New Pet Accessories
- DTC Trend
- Growth of Pet Insurance Space
- Demand for Natural Pet Food Brands
- Growth of the Pet-Sitting Market Size
- The Popularity of the Pet Grooming Market
- Launch of New Pet Technology
Pets are simple creatures, and what makes them complicated is their compatibility with their owners’ lives. Overall, 2023 will be an exciting year for pet owners as there are many new and innovative products and services being emerged to keep our pets happy and healthy. While reading the World Best Pet Industry News and Trends in 2023, you can also read our most important posts, Top 10 Most Popular Fast Food Restaurants in the UK, Top 10 Best Cheese Recipes You Should Try Right Now, Top 10 Best and Influential Men on Linkedin and more. Join The Daily Top 10 to explore the World Daily by Subscribing to our Newsletter now!