Innovative pet tech products automate tedious pet care tasks and help support better pet health.

The global animal medicine market offers exciting growth opportunities for competitors, particularly in the late-COVID / post-COVID landscape. A recent report highlights some of the key strategies that can be adopted by companies to benefit from these market trends.

While many sectors were clobbered during the COVID-19 pandemic, the U.S. pet industry had an outstanding year, with sales growth of 9% driving total pet industry sales to $107 billion, according to the new report Pet Market Outlook, 2021-2022 by Packaged Facts, a leading market research firm and division of MarketResearch.com.

In a recent video interview, Packaged Facts Research Director David Sprinkle sat down with Senior Analyst David Lummis to discuss the top pet food industry trends in 2020 and the impact of the COVID-19 pandemic on the market.

Cannabis and cannabis-derived products are smoking hot topics in the U.S., where several states have loosened previously stringent regulations regarding the possession and use of medicinal and/or recreational marijuana.

As a result, cannabidiol (CBD) – a compound found in hemp plant oil, purported to offer myriad health benefits like anxiety relief, nausea control, cancer prevention, and inflammation reduction – is more popular than ever before. 

It may come as no surprise that the Internet is the fastest growing channel for pet products. In fact, sales of pet products sold online will easily double between 2017 and 2022, according to a report by market research firm Packaged Facts.

The $86 billion pet industry is certainly transforming alongside the rise of e-commerce, but that’s not the only trend to watch in the coming years. 

Walmart is famous for its ability to deliver “products that are so darn cheap you can’t believe it.” But there’s more to Walmart’s business strategy than low prices.

In a four-part series, the market research firm Packaged Facts examines critical aspects of Walmart’s business model and the factors that motivate consumers to shop there. This article shares key findings from these reports to help explain how Walmart has built and maintained such a strong competitive advantage in multiple industry categories.

Growth in the pet population, increasing penetration of pet insurance, pet humanization within the growing global urban population and increased awareness of animal welfare needs due to social media are helping the veterinary industry to maintain growth at 6.2% a year, according to a new market research report.

The U.S. pet industry reached $86 billion in 2017 and continues to have a strong growth trajectory, according to a comprehensive new report by Packaged Facts titled U.S. Pet Market Outlook, 2018-2019.

While sales of pet products and services rose nearly 5% last year, threats of disruption keep industry players scrambling to adjust to a rapidly shifting market landscape.

In case you haven’t already heard, Packaged Facts released a downloadable PDF that describes the top 9 pet companies in the U.S. in 2018 — including retailers, pet product companies, pet food manufacturers, and petcare companies — that have the highest estimated revenues.