The number of transactions within the Pet Industry continues to rise, growing over 17% from 2018 to 2019. The recession resistant nature of the global Pet Industry supports sustained growth trends regardless of prospective economic signals.
Sub-sectors, Pet treatment and Care, remain relevant as demand for (i) holistic and preventative wellness care, (ii) high quality and boutique brand foods, (iii) grain-free food alternatives, (iv) medications, and (v) vitamin supplements and CBD-infused/hemp-based alternative treatments are the focus of consumers. Specifically, the Veterinary Care subsector accounts for 31% percent of the Global Pet Industry, with significant roll-up opportunities to further drive growth. With consumers able to invest in high quality pet care, more preventative and electable procedures disrupt what was once a sleepy industry.
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