Pets: niche strategy

Profitable and growing industry.

Every year pet owners continue to spend more money on their faithful companions. Expenses ranging from food, medicine, veterinary and insurance, yes, you read that right, insurance for them, the list is endless and quite profitable for an industry that is targeting the niche strategy of this sector.

According to the American Pet Products Association (APPA), the industry achieved $123.6 billion in sales by 2021. This is its second consecutive year with extraordinary results compared to the previous year, which reached 103.6 billion.

Anne Ferrante, APPA's senior VP of development and trade member relations said, "The pet industry continues to prove strong and resilient after two consecutive record years. Continued growth is expected as we look ahead to the remainder of 2022, although it is already anticipated that it may be a more moderate pace given the impact of volatile factors such as inflation, supply chain issues and global relationships."

Pets and Wall Street

There are many companies listed in the financial markets that actively participate in the development of products in this sector, but they are hardly categorized as such, and below, for information purposes, we present some of them and their market valuation.

Zoetis Inc - 76.303B

Founded in 1952 and headquartered in Parsippany, New Jersey. Discovers, develops, manufactures and markets animal health drugs, vaccines and diagnostic products in the United States and internationally.