Today I was reading about the global investment volume on dogs and pets … The topic attracted my attention after I saw a dogs hairdresser shop in city of Stuttgart today. I know, gods are amazing animals. We had dogs during my childhood. I used to take our famous dog called chilo when i go out to the feild to look after our cattle and sheep.
Chilo, our dog did learn to help me as shepherd, he also helped in keeping other livestock/wildanimals from entering our compound .. Chilo was our soldier. Because of chilo, we were not afraid during the night even if there were lots of hayna. thieves and strangers didnt easily enter our compound. Chilo also used to play football with us … but, when there were rabies outbreak in our village, the city administration used to kill all the dogs in the town … in-front of our eyes, we did witness our chilo given poisoned meat and die … it was so sad to watch our chilo die … my major motive in this article is about the growing popularity of pets and dog market globally.
Pet Care Industry Analysis 2018 – Cost & Trends….$63 billion in 2016 in USA. If the Canada, Europe, Asia and Australia are added to this figure … the rough estimate of the economic value of pet industry globally can be 63×5=315Billion USD. … most of the following information is taken from online sources I came across … copied here to enrich my argument about the volume of global pet related industry …
Well over half of the households in the United States own a pet – almost 80 million homes! Man’s best friend might be the most iconic, but our taste in pets is both varied and dynamic. But whether it’s a dog, cat, horse, bird, fish, or lizard – pets need to eat. They need to be kept clean, and have a place to sleep. Pets need to be cared for – and with over 300 million pets in the US that makes for a booming business.
የውሻዎን ፀጉር እናስተካክላን…. Dog hairdresser/hundefriseur/
የውሻዎን ፀጉር እናስተካክላን…. Dog hairdresser/hundefriseur/ የመጀመሪያው የጀርመን
እስቱትጋርት ከተማ ቆይታችን
ከአፍሪካ/ኢትዮጵያ ወደአውሮፓ
በመጣሁ ቁጥር፣ ሁሌም የሚመጣብኝ
ጥያቄ ነው…. መቼም ስልጣኔያቸውን አድንቀን፣ ፎቶ ተነስተን
ፌስቡክ ላይ ለመለጠፍ
ብቻ አልመጣንም…. ዋናው ጉዳይ እነሱን
ማድነቅ ሳይሆን… ከእነሱ
ልምድ መውሰድና ወደእኛ
ሀገር ማምጣት ነው… እነኚህ
ህዝቦች የደረሱበት የአስተሳሰብና የቁሳቁስ ስልጣኔ
ደረጃ ለመድረስ ምን ያህል ጊዜ ይወስድብናል?
…የራሳችንንስ በጎ ጎን አቆይተን
የእነሱን ቆንጆ ነገሮች
መርጠን ለመውሰድ፣ በሁለትዮሽ
ውይይት ደግሞ…ለሀገራችን
የሚጠቅመውን አጀንዳ አስጠብቀን ለመደራደር እንዴት ማድረግ አለብን የሚሉት ሀሳቦችና የመሳሰሉት…… ሀገራችንስ ከእርዳታ ወጥታ፣ ህዝቦችዋ በራሳችን ጥረት እንዴት ወደልማት መድረስ እንችላለን? መሰረታዊው ጉዳይ ገንዘብ አይደለም….
የሀገራችን ህዝቦች ከእርስ በእርስ ግጭት ተላቀው ወደልማትና ተባብሮ ወደስልጣኔ ለመራመድ ቃል መግባት አለባቸው…. ፖለቲከኞቹ ወደነፈሰበት እየነፈሱ፣ ወደግጭት ህዝቡን እንዳያደርሱ መደረግ አለበት…. … እነሱ ለውሾቻቸው በአመት እኛ ለህፃናት ከምናወጣው ገንዘብ በላይ ይከፍላሉ…. እኛ ደግሞ ጎሮቤታችን ጋር ለመገዳደል የጦር መሳሪያ እንገዛለን …
ሀገራችን እኮ ብዙ ያልተነካ ሀብት አላት… እስቲ የውሻዎን ፀጉር እናስተካክላን የሚለውን የስራ መደብ ሀገራችን እስኪኖረን መሄድ ያለብንን የልማት ርቀት አስቡት… መቼም የጀርመን ውሾች ሀገራችን ካት ውሾች የተለየ እንክብካቤ ያስፈልጋቸዋል ብለን አላምንም.. ልዩነቱ የጀርመኖቹ ውሾች የሰለጠነ ማህበረሰብ ውስጥ መኖራቸውና ለኛ ሀገሮቹ ደግሞ ከሰው ልጆች ተርፎ ለውሾቹ የሚሆን የአስተሳሰብ እድገት ማማ ላይ አለመሆናችን ነው….
ወዳጆቼ ከአለም ያለን ርቀት እኮ እጅግ ሩቅ ነው…. ከጎሮቤት ተዋግተን ይቅርና ተስማምተንም ቢሆን ብዙ ስራ ይጠብቀናል
Picture taken in Stuttgart Germany on 25/02/2019…
But it’s not just the basic care requirements of our non-human family that is driving strong growth in the pet industry. Strong economic conditions, the demographics of our (human) population, and a growing body of medical research pointing to the health benefits of pet ownership are all contributing to continued strength. And perhaps as important as all of these is the fact that people do not just care for their pets – they pamper them.
What is the pet industry?
As of 2015, 65% of households in the US own at least one pet, and the pet industry is made up of the products and services that keep these pets alive, healthy and happy – food, toys, daycare, training, beds, cages, medical services and a lot more.
And, being honest, the pet industry in the United States is keeping pet owners happy as well. After all, no dog feels sad without the latest Juicy Couture sweater – but some some of their owners might. While pets are found in households of all economic levels, high-income households account for about 60% of the total spending.
Large corporations such as Petsmart and Petco are the most well-recognized businesses, but there are also an enormous amount of small businesses, franchises, and sole proprietorships. They are found in cities, suburbs and in the deep country. And perhaps more so than in many other industries, there are countless “off-the-books” dog walkers and pet sitters offering services to their friends, families and local networks.
What are the numbers?
According to the American Pet Products Association (APPA), revenue in the pet industry is expected to be $62.75 billion in 2016, an increase of more than 4% over 2015. The average annual growth rate since 2002 is 5.4%, and revenue has been growing steadily for well over 20 years.
According to the Bureau of Labor Statistics, above average job growth is expected for the industry – 11% growth between 2014 and 2024.
Logically, food is the largest spending segment, followed by veterinary care. Within each segment, however, there is quite a degree of variability in the type, quality and price of goods and services.
Revenue by Segment
Food
- 2015: $23.05 billion
- 2016 (estimated): $24.01 billion
Supplies/OTC Medicine
- 2015: $14.28 billion
- 2016 (estimated): $14.98 billion
Vet Care
- 2015: $15.42 billion
- 2016 (estimated): $15.92 billion
Live animal purchases
- 2015: $2.12 billion
- 2016 (estimated): $2.11 billion
Pet services: grooming & boarding
- 2015: $5.41 billion
- 2016 (estimated): $5.73 billion
Trends driving pet industry growth
There are a number of trends supporting strong growth in the industry and they show no signs of slowing down.
Humanization
Many types of pets have long been considered part of the family, but in recent years that has started to translate to actually treating pets more like people – a trend called “humanization.” Pet owners are seeking out higher quality foods, more high-end accessories and more expensive medical treatments. Largely gone are the days of “outside dogs” that just “see to themselves.”
Premiumization
Premiumization is the creation of higher end or specialty products and services to cater to these elevated requirements for our pets. Organic and natural treats and foods, high-tech medical therapies and medicines, luxury services and even spas – nothing is too good! Businesses that cater to these niche products and services are booming!
Health Benefits
Another driving force is a greater appreciation – based on scientific research – of the bond between people and their pets. According to the Human Animal Bond Research Initiative Foundation (HABRI), “People are happier and healthier in the presence of animals. Scientifically-documented benefits…include decreased blood pressure, reduced anxiety, and enhanced feelings of well-being.”
Though the results are preliminary, a HABRI study has indicated a potential $11.7 billion savings to the US healthcare system that can be tied to pet ownership.
Demographics
Current US demographic trends also favor continued industry strength based on two groups: baby boomers and millennials.
Baby boomers are launching their real kids into the wild and replacing them with pets – and they are pampering them. In almost all spending categories, spending declines once a person reaches 55 years of age – but pet spending is peaking between the ages of 55 and 64!
Millennials – people born between 1985-2010 – are probably the first generation to grow up thinking of pets more like humans than animals. They are finding their independence and have disposable income – and they are buying pets and spoiling them. Great for the industry – these folks will be loyal customers for decades.
Economics
Pet industry revenue has shown growth even during times of economic trouble, including the recent Great Recession, so it only makes sense that our current relative economic strength bodes well for continued industry strength.
What are the risks?
Competition is fierce – even with so many pets requiring so many things, there are a lot of businesses to deal with them. Large companies like Petco leverage their buying power to offer low prices, while individual people can easily offer affordable dog walking and sitting services.
What are the best opportunities?
Hands down, niche or specialty offerings. Among some of the best opportunities are stores selling foods with special ingredients or health benefits, training services and grooming services.
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