The 10 most-read stories of 2024
A look back at the stories and trends that shaped the pet industry in 2024, setting the stage for what’s ahead in 2025.
As the pet industry enters 2025, GlobalPETS reflects on the coverage that captivated readers most over the past year. From key industry milestones to insightful trend analyses, our 2024 reporting offered a look at the developments shaping the global pet sector.
Take a moment to revisit the most-read stories of the year:
2024’s most-read news piece was of leading Nordic pet retailer Musti Group acquiring Estonian-based Pet City for €18 million ($18.7M).
This strategic move granted Musti Group access to 46 retail stores, 16 veterinary clinics and 472 employees across Estonia, Latvia and Lithuania, marking its expansion into the Baltic region.
Musti Group’s CEO, David Rönnberg, described this expansion as a “natural next step for international growth.”
The GlobalPETS news report on Arthro Biotech securing a 2-year export permit under the EU TRACES certification was the year’s second most popular story.
The Indian producer of black soldier fly (BSF) ingredients for animal feed and pet food aims to increase annual production to 100,000 tons by 2030. Arthro Biotech plans to establish a 5,000-ton-per-year facility in central India as part of its expansion.
The company, that was founded in 2023, currently produces 30 tons of animal feed ingredients per month at its pilot facility in Hyderabad.
One of the biggest retailing news this year was the acquisition of Italian pet retailer Arcaplanet by German counterpart Fressnapf.
This strategic move expands Fressnapf’s presence in Italy to 560 locations and strengthens its position across Europe, with the company now operating over 2,600 stores in 14 countries.
The acquisition is also expected to boost Fressnapf’s annual revenue by more than €700 million ($728.8M), contributing to a projected gross turnover of approximately €5 billion ($5.2B).
This business performance update published in December on the American pet retailer was popular among GlobalPETS readers.
Chewy saw a 4.8% increase in Q3 FY2024 sales, reaching $2.88 billion (€2.8B), with growth driven by its autoship service, although active customer numbers slightly declined to 20.2 million.
The firm’s expansion into services like Chewy+ and new veterinary care centers highlighted its continued push to strengthen customer loyalty and increase revenue streams.
Another business earnings update that garnered reader attention was the coverrage of Petco’s reported 1.2% year-over-year increase in net revenue for Q3 2024. The company reached $1.51 billion (€1.5B), with comparable sales growing by 2%.
Despite a net loss of $16.7 million (€16M), the company saw a 3% rise in consumable sales and a 9% increase in service revenue, driven by its veterinary services.
One primary concern for pet owners this year was inflation, rising veterinary costs and pet insurance, which is reflected in this October article.
Veterinary care costs rose across the US, with Maine and Georgia experiencing a 20% increase within a year, a trend that spread to states like California.
In response, pet insurance premiums began to rise; for instance, Lemonade Pet Insurance planned a 14% hike starting in November, and Nationwide announced it would not renew 100,000 policies due to unsustainable costs.
California has enacted legislation to address these challenges, enhance transparency in pet insurance policies and expand access to affordable pet sterilization procedures.
This round-up coverage explored the significant pet industry mergers and acquisitions in October.
Notable deals included 2B Associates’ acquisition of PreMark Health Science to advance canine health products, Agria Insurance’s partnership with Quantee to strengthen its European market presence and The Vets’ merger with BetterVet to broaden mobile veterinary services across 30 US cities.
A GlobalPETS article from March 2023 continued to prove popular in 2024.
In 2023, dogs and cats remained the most popular pets in the UK, with 12 million dogs and 11 million cats, although their numbers slightly declined.
Rabbits surged in popularity, reaching 1.5 million, while other pets like indoor birds, guinea pigs, and domestic fowls saw smaller shifts, with lizards and snakes also maintaining steady numbers.
In October 2024, several prominent pet industry companies announced significant leadership changes that grabbed the attention of GlobalPETS readers.
Central Garden & Pet appointed Niko Lahanas as CEO, PetSmart named Alan Schnaid as interim CEO and Pet Food Experts brought in Greg Cyr as CEO.
Additionally, Independence Pet Holdings confirmed Kirk Haggard as CEO, while Nestlé restructured its leadership, appointing Steve Presley and Remy Ejel to oversee different geographical zones.
And finally, the tenth most-read article by GlobalPETS readers in 2024 was on Southeast Asia’s pet care market.
The region’s pet market, valued at $3.3 billion (€3.2B) in 2023, is projected to grow at a 9% compound annual growth rate from 2023 to 2028, driven by premium cat food and a surge in pet ownership.
Thailand was reported to lead this market with $1.5 billion (€1.4B) in sales, while Indonesia and the Philippines were said to be experiencing rapid growth.
Southeast Asia also witnessed a shift toward premium and healthy pet products, with e-commerce and subscription services gaining traction.
Share this story:
