Source: U.S. Chamber of Commerce
The pet industry boomed in 2023, contributing $303 billion to the economy, a 16% increase from 2022. Key trends driving this growth include eco-friendly products, with biodegradable toys and organic food becoming popular. The “humanization” of pet products sees pets enjoying human-like care and nutrition.
Smart pet technology, such as GPS collars and automated feeders, is also on the rise, with the market expected to reach $35 billion by 2032. Mobile apps now offer telehealth, care, and training support, while pet travel options are expanding, catering to the increasing demand for pet-friendly accommodations.
Read the full story HERE: https://www.uschamber.com/co/start/business-ideas/small-business-pet-trends