No. 1 Way to Tap the Pet Economy’s 206% Boom
- By 2025, the pet care market is expected to hit $275 billion — a 206% increase since 2018.
- Millennials are driving this mega trend, with seven in 10 owning a pet and the average animal lover willing to spend over $1,000 per year on food and veterinary care.
- One great investment tool to tap this growing millennial-driven trend that’s up 19% since January.
Movie night at my house can get a little crowded…
I even end up sitting on the floor at times because, between Charlotte, Betty and my wife, there’s no room on the couch!
Charlotte and Betty are my pet pigs, and they have made themselves right at home.
And they aren’t the only ones roaming around our house.
You see, my wife and I have a big animal family. Betty — our newest addition — joins Charlotte, two dogs and a cat.
And that’s just indoors. Outside, we have emus, goats and pheasants. It’s something like a cross between a zoo and a farm, and we love it!
The reason I’m telling you all this: They play into a huge mega trend that is fueling an incredible investment opportunity
I’m talking about the millennial-driven pet economy boom.
See, millennials are known for their affinity with animals. It’s a stereotype I’m happy to embrace.
Although my wife and I take it to a new level, our entire generation is bringing the pet care industry to the forefront:
- We have more pets. The United States has the highest number of pet owners ever seen, hitting almost 53 million. That’s nearly seven in 10 of the 92 million Americans born between 1980 and 2000.
- We treat pets like kids. In fact, 82% of us believe that pet ownership helps prepare us for parenting. Animals become part of our families.
- We don’t mind spending money on our pets. The average millennial pet owner spends over $1,000 per year on things like food and veterinary care. And about 11% even said they’d be willing to pay more than $10,000 to treat a sick pet.
With that sort of dedication, you can bet that this industry is set for a huge boost!
Millennial Money Floods Into the Internet of Pet Things
Millennials are a primary reason you’ll find the pet care industry being described as a “consumer staple,” which typically refers to things like food, water and electricity.
In other words: things we can’t live without.
With millennials owning almost 40% of all pets in the United States, this industry is set to grow like never before.
Like many other new-world industries that are displacing old-world stalwarts, pet care is really transforming with technology.
A dog-walking app called Rover has over 200,000 employees and has received more than $310 million in funding from investors who see it as the wave of the future.
Rover also bought out a company called DogVacay, which has an app that lets people find someone to watch their pets while they’re away.
Rover is valued at about $1 billion, which shows the huge demand that pet service startups have.
There’s also Chewy, the Amazon of pet food and supplies, which is now a $13 billion company.
And now, there’s even an app called Fuzzy that can connect you with a local vet. The company just received $8 million in funding a few weeks ago.
So, we’re seeing huge tech-fueled disruption in the pet economy that’s clearly being geared toward how millennials prefer to do things: over the internet.
This new wave of companies is going to be the future of the industry, and they’ll have no problem getting at least one generation’s money.
25 Ways to Bank on the Booming Pet Care Industry
It’s not just the United States that’s seeing this industry grow much faster than usual. The global pet care market hit $190 billion in sales in 2018.
But by 2025, it’s expected to be all the way up to $275 billion. That’s a 206% increase in just seven years.
And I personally believe this estimate is a bit low, as it only calculates about 5.4% growth per year.
Given how quickly technology is advancing, and how much people are spending on their pets, I wouldn’t be surprised to see that number hit $350 billion by then.
To get in on this industry, I recommend adding the exchange-traded fund ProShares Pet Care ETF (PAWZ) to your portfolio. Since January, the fund’s value is up 19%.
By buying shares of this ETF, you’re investing in 25 different stocks that are related to the pet care industry.
Editor, Rapid Profit Trader