Euromonitor places pet care as top consumer trend for 2022
The market research company believes that the segment has played a critical role in 2021 and will also impact society’s behavior in the year ahead.
In a recent report, Euromonitor believes that pandemic trigged consumers to make what they call The Great Life Refresh, resulting in personal changes and a reboot of values and goals.
“Change will remain the dominant trend that characterizes lifestyle shifts in the short term. Activities and products that positively impact mental and physical health, such as adopting pets or having the ability to travel while working remotely, are influencing purchase decisions,” it reads.
The research also considers pet adoption as one of de drivers in society’s mental wellbeing during the pandemic.
“Pet adoptions skyrocketed, and global pet care sales growth doubled from 2019 as more consumers looked for companionship.”
Euromonitor International data shows that since 2019 the global pet care sales have dramatically increased. While in 2019 the retail sales for the category represented a bit more than $130 billion (€114.8B), in 2020 it was $140 billion (€123.6B), and in 2021 it passed the $150 billion (€132.4B) mark.
This study is part of a yearly research that identifies the 10 most emerging and fast-moving trends expected to gain traction in the year.